Truist Financial Cuts Terex (NYSE:TEX) Price Target to $62.00

Terex (NYSE:TEX) had its target price reduced by Truist Financial from $63.00 to $62.00 in a research report report published on Wednesday, Benzinga reports. Truist Financial currently has a buy rating on the industrial products company’s stock.

Several other equities analysts also recently commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Terex from $59.00 to $65.00 and gave the stock a neutral rating in a research note on Tuesday, July 23rd. Citigroup dropped their price target on shares of Terex from $60.00 to $57.00 and set a neutral rating for the company in a research note on Monday, September 23rd. Raymond James started coverage on shares of Terex in a research report on Friday, June 28th. They set a market perform rating for the company. Jefferies Financial Group decreased their price objective on shares of Terex from $68.00 to $55.00 and set a hold rating for the company in a research report on Thursday, July 11th. Finally, Evercore ISI decreased their price objective on shares of Terex from $67.00 to $59.00 and set an outperform rating for the company in a research report on Monday, August 19th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $60.60.

Terex Stock Up 4.5 %

Terex stock opened at $55.48 on Wednesday. Terex has a fifty-two week low of $43.70 and a fifty-two week high of $68.08. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.07 and a current ratio of 2.21. The firm has a 50 day moving average price of $53.29 and a 200 day moving average price of $57.14. The company has a market capitalization of $3.71 billion, a PE ratio of 7.61, a price-to-earnings-growth ratio of 4.46 and a beta of 1.53.

Terex (NYSE:TEX) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.10. Terex had a net margin of 9.55% and a return on equity of 27.89%. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the firm earned $2.35 EPS. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. Research analysts expect that Terex will post 5.88 earnings per share for the current year.

Terex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, August 9th were issued a $0.17 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.23%. Terex’s payout ratio is 9.33%.

Insider Activity

In other Terex news, Director Andra Rush bought 2,205 shares of Terex stock in a transaction dated Friday, August 2nd. The stock was acquired at an average cost of $54.36 per share, with a total value of $119,863.80. Following the completion of the acquisition, the director now owns 21,983 shares of the company’s stock, valued at approximately $1,194,995.88. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Dorsey Wright & Associates increased its stake in shares of Terex by 0.3% during the second quarter. Dorsey Wright & Associates now owns 61,309 shares of the industrial products company’s stock worth $3,362,000 after acquiring an additional 186 shares during the period. Blue Trust Inc. increased its stake in shares of Terex by 57.5% during the second quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 187 shares during the period. FCG Investment Co increased its stake in shares of Terex by 3.5% during the second quarter. FCG Investment Co now owns 6,534 shares of the industrial products company’s stock worth $358,000 after acquiring an additional 220 shares during the period. QRG Capital Management Inc. increased its stake in shares of Terex by 4.4% during the first quarter. QRG Capital Management Inc. now owns 5,566 shares of the industrial products company’s stock worth $358,000 after acquiring an additional 234 shares during the period. Finally, SummerHaven Investment Management LLC increased its stake in shares of Terex by 2.2% during the second quarter. SummerHaven Investment Management LLC now owns 12,114 shares of the industrial products company’s stock worth $664,000 after acquiring an additional 258 shares during the period. 92.88% of the stock is currently owned by institutional investors and hedge funds.

About Terex

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.