Terex (NYSE:TEX) Price Target Cut to $58.00 by Analysts at Truist Financial

Terex (NYSE:TEX) had its target price cut by research analysts at Truist Financial from $65.00 to $58.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price objective would indicate a potential upside of 27.39% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Citigroup decreased their price objective on shares of Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a research note on Monday, September 23rd. JPMorgan Chase & Co. decreased their price target on Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Robert W. Baird cut their price objective on Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group reduced their price objective on Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $58.78.

Terex Price Performance

Shares of TEX stock traded down $0.25 during trading hours on Thursday, hitting $45.53. The company had a trading volume of 165,491 shares, compared to its average volume of 804,577. Terex has a 12 month low of $45.22 and a 12 month high of $68.08. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.16 and a current ratio of 2.39. The firm’s fifty day moving average is $53.26 and its 200 day moving average is $54.34. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 6.65, a PEG ratio of 4.00 and a beta of 1.53.

Terex (NYSE:TEX) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.15. Terex had a return on equity of 24.92% and a net margin of 9.08%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the company posted $1.75 earnings per share. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. On average, sell-side analysts predict that Terex will post 6.07 EPS for the current fiscal year.

Insider Activity

In related news, Director David A. Sachs purchased 20,000 shares of Terex stock in a transaction dated Friday, December 13th. The shares were acquired at an average cost of $49.75 per share, for a total transaction of $995,000.00. Following the transaction, the director now directly owns 137,500 shares of the company’s stock, valued at approximately $6,840,625. This trade represents a 17.02 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Simon Meester sold 9,877 shares of Terex stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $51.14, for a total value of $505,109.78. Following the sale, the chief executive officer now directly owns 127,858 shares of the company’s stock, valued at approximately $6,538,658.12. This trade represents a 7.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

Institutional Trading of Terex

A number of hedge funds have recently modified their holdings of the company. Chartwell Investment Partners LLC bought a new position in Terex during the third quarter worth about $559,000. Edgestream Partners L.P. lifted its holdings in shares of Terex by 181.6% during the 2nd quarter. Edgestream Partners L.P. now owns 68,898 shares of the industrial products company’s stock valued at $3,778,000 after purchasing an additional 44,432 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Terex during the 3rd quarter valued at about $615,000. AQR Capital Management LLC grew its position in shares of Terex by 18.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,837,563 shares of the industrial products company’s stock valued at $99,045,000 after purchasing an additional 285,750 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in Terex during the 3rd quarter worth approximately $4,283,000. 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.