Terex (NYSE:TEX) PT Lowered to $68.00

Terex (NYSE:TEX) had its price target decreased by stock analysts at Truist Financial from $73.00 to $68.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target indicates a potential upside of 25.46% from the company’s current price.

Several other brokerages have also commented on TEX. UBS Group increased their price target on shares of Terex from $62.00 to $64.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. JPMorgan Chase & Co. lowered shares of Terex from an “overweight” rating to a “neutral” rating and set a $63.00 price target on the stock. in a research note on Monday, March 18th. Citigroup assumed coverage on shares of Terex in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $60.00 price objective for the company. Finally, Raymond James initiated coverage on Terex in a research report on Friday, June 28th. They set a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $64.67.

Terex Trading Up 1.5 %

Shares of NYSE:TEX opened at $54.20 on Tuesday. Terex has a 52 week low of $43.70 and a 52 week high of $65.89. The company’s 50 day moving average is $57.62 and its two-hundred day moving average is $58.78. The company has a market cap of $3.65 billion, a PE ratio of 7.18 and a beta of 1.57. The company has a current ratio of 2.16, a quick ratio of 1.06 and a debt-to-equity ratio of 0.42.

Terex (NYSE:TEX) last issued its earnings results on Thursday, April 25th. The industrial products company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.23. Terex had a net margin of 9.87% and a return on equity of 30.53%. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.23 billion. Equities analysts predict that Terex will post 7.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Stephen Johnston sold 3,239 shares of Terex stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $62.00, for a total value of $200,818.00. Following the sale, the chief accounting officer now owns 14,606 shares of the company’s stock, valued at $905,572. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP Scott Posner sold 12,500 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $60.48, for a total transaction of $756,000.00. Following the transaction, the vice president now owns 58,224 shares of the company’s stock, valued at $3,521,387.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Stephen Johnston sold 3,239 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $62.00, for a total value of $200,818.00. Following the completion of the sale, the chief accounting officer now directly owns 14,606 shares of the company’s stock, valued at approximately $905,572. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,929 shares of company stock worth $1,958,307. 1.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Terex

Institutional investors and hedge funds have recently made changes to their positions in the stock. SummerHaven Investment Management LLC raised its position in Terex by 1.6% during the fourth quarter. SummerHaven Investment Management LLC now owns 11,692 shares of the industrial products company’s stock valued at $672,000 after buying an additional 188 shares during the period. Greenwich Wealth Management LLC lifted its position in shares of Terex by 0.3% in the fourth quarter. Greenwich Wealth Management LLC now owns 61,670 shares of the industrial products company’s stock worth $3,544,000 after purchasing an additional 209 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in shares of Terex by 4.6% during the fourth quarter. QRG Capital Management Inc. now owns 5,332 shares of the industrial products company’s stock worth $306,000 after purchasing an additional 234 shares during the period. FCG Investment Co grew its position in Terex by 4.7% during the first quarter. FCG Investment Co now owns 6,314 shares of the industrial products company’s stock valued at $407,000 after purchasing an additional 285 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in Terex by 179.0% in the 4th quarter. Blue Trust Inc. now owns 466 shares of the industrial products company’s stock valued at $27,000 after buying an additional 299 shares during the period. 92.88% of the stock is 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.