Terex (NYSE:TEX) Price Target Raised to $74.00

Terex (NYSE:TEX) had its target price increased by equities research analysts at Truist Financial from $68.00 to $74.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price objective indicates a potential upside of 21.01% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. Raymond James began coverage on Terex in a research note on Friday, June 28th. They issued a “market perform” rating for the company. JPMorgan Chase & Co. increased their price objective on Terex from $59.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. UBS Group raised their target price on Terex from $62.00 to $64.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. Jefferies Financial Group lowered their target price on Terex from $68.00 to $55.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Finally, Robert W. Baird raised their price objective on Terex from $58.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $64.83.

Terex Stock Performance

TEX stock traded down $2.11 during trading on Thursday, reaching $61.15. The company had a trading volume of 99,372 shares, compared to its average volume of 831,438. The firm has a 50-day simple moving average of $57.17 and a 200-day simple moving average of $59.00. The company has a market cap of $4.12 billion, a price-to-earnings ratio of 8.28 and a beta of 1.57. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.06 and a current ratio of 2.16. Terex has a twelve month low of $43.70 and a twelve month high of $68.08.

Terex (NYSE:TEX) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.10. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Terex had a return on equity of 28.71% and a net margin of 9.55%. Terex’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.35 earnings per share. As a group, sell-side analysts expect that Terex will post 7.09 earnings per share for the current year.

Insider Activity

In related news, insider Kieran Hegarty sold 17,190 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $58.26, for a total value of $1,001,489.40. Following the completion of the sale, the insider now directly owns 200,029 shares in the company, valued at $11,653,689.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Terex news, VP Scott Posner sold 12,500 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $60.48, for a total transaction of $756,000.00. Following the completion of the sale, the vice president now directly owns 58,224 shares in the company, valued at approximately $3,521,387.52. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kieran Hegarty sold 17,190 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $58.26, for a total value of $1,001,489.40. Following the completion of the sale, the insider now owns 200,029 shares of the company’s stock, valued at $11,653,689.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,929 shares of company stock worth $1,958,307. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Terex during the 4th quarter worth $42,606,000. HM Payson & Co. bought a new stake in shares of Terex during the 1st quarter worth $24,429,000. Curated Wealth Partners LLC lifted its stake in Terex by 200.0% in the second quarter. Curated Wealth Partners LLC now owns 176,922 shares of the industrial products company’s stock worth $9,702,000 after purchasing an additional 353,844 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in Terex by 356.0% in the fourth quarter. Allianz Asset Management GmbH now owns 207,155 shares of the industrial products company’s stock worth $11,903,000 after purchasing an additional 161,729 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Terex by 42.6% during the fourth quarter. First Trust Advisors LP now owns 520,820 shares of the industrial products company’s stock valued at $29,926,000 after acquiring an additional 155,706 shares during the last quarter. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

Terex Company Profile

Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Materials Processing (MP) and Aerial Work Platforms (AWP). The MP segment designs, manufactures, services, and markets materials processing and specialty equipment, includes crushers, washing systems, screens, trommels, apron feeders, material handlers, pick and carry cranes, rough terrain cranes, tower cranes, wood processing, biomass and recycling equipment, concrete mixer trucks and concrete pavers, conveyors, and related components and replacement parts under the Terex, Powerscreen, Fuchs, EvoQuip, Canica, Cedarapids, CBI, Simplicity, Franna, Terex Ecotec, Finlay, ProAll, ZenRobotics, Terex Washing Systems, Terex MPS, Terex Jaques, Terex Advance, ProStack, Terex Bid-Well, MDS, and Terex Recycling Systems brands.