JPMorgan Chase & Co. Issues Pessimistic Forecast for Terex (NYSE:TEX) Stock Price

Terex (NYSE:TEX) had its price objective trimmed by JPMorgan Chase & Co. from $51.00 to $48.00 in a report published on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the industrial products company’s stock.

A number of other equities analysts have also weighed in on TEX. Barclays dropped their target price on shares of Terex from $60.00 to $52.00 and set an “equal weight” rating for the company in a research report on Monday, February 10th. Truist Financial decreased their price target on shares of Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Citigroup decreased their price target on shares of Terex from $48.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday. StockNews.com downgraded shares of Terex from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Finally, Evercore ISI decreased their price target on shares of Terex from $63.00 to $59.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Terex presently has a consensus rating of “Hold” and an average price target of $54.22.

Terex Price Performance

Shares of NYSE:TEX opened at $39.07 on Tuesday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.09 and a current ratio of 2.16. The firm has a fifty day moving average price of $44.19 and a 200 day moving average price of $49.05. Terex has a fifty-two week low of $36.15 and a fifty-two week high of $68.08. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 7.88, a P/E/G ratio of 4.53 and a beta of 1.56.

Terex (NYSE:TEX) last issued its earnings results on Thursday, February 6th. The industrial products company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. Terex had a net margin of 6.54% and a return on equity of 21.99%. During the same quarter last year, the business earned $1.88 earnings per share. As a group, sell-side analysts expect that Terex will post 4.83 earnings per share for the current fiscal year.

Terex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Friday, March 7th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend was Friday, March 7th. Terex’s payout ratio is presently 13.71%.

Insider Transactions at Terex

In related news, Director Andra Rush purchased 1,325 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average cost of $36.96 per share, for a total transaction of $48,972.00. Following the completion of the acquisition, the director now owns 23,308 shares in the company, valued at approximately $861,463.68. This trade represents a 6.03 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TEX. Cascade Investment Advisors Inc. bought a new position in Terex during the 4th quarter worth about $1,070,000. GSA Capital Partners LLP bought a new position in Terex during the 3rd quarter worth about $615,000. Barclays PLC grew its holdings in Terex by 40.2% during the 3rd quarter. Barclays PLC now owns 129,250 shares of the industrial products company’s stock worth $6,838,000 after acquiring an additional 37,072 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Terex during the 3rd quarter worth about $4,283,000. Finally, Citigroup Inc. grew its holdings in Terex by 65.6% during the 3rd quarter. Citigroup Inc. now owns 70,443 shares of the industrial products company’s stock worth $3,727,000 after acquiring an additional 27,896 shares in the last quarter. 92.88% of the stock is currently owned by institutional investors.

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.