Terex (NYSE:TEX) Price Target Increased to $74.00 by Analysts at Truist Financial

Terex (NYSE:TEX) had its target price hoisted by Truist Financial from $68.00 to $74.00 in a report published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

A number of other brokerages have also weighed in on TEX. JPMorgan Chase & Co. raised their price objective on Terex from $59.00 to $65.00 and gave the company a neutral rating in a research report on Tuesday, July 23rd. Raymond James started coverage on Terex in a research report on Friday, June 28th. They issued a market perform rating for the company. Robert W. Baird lifted their price target on Terex from $58.00 to $67.00 and gave the stock a neutral rating in a research report on Monday, July 22nd. UBS Group lifted their price target on Terex from $62.00 to $64.00 and gave the stock a neutral rating in a research report on Tuesday, May 21st. Finally, Citigroup started coverage on Terex in a research report on Wednesday, June 26th. They issued a neutral rating and a $60.00 price target for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and an average price target of $63.70.

Terex Stock Performance

Terex stock traded down $0.87 during trading on Thursday, reaching $53.52. The company had a trading volume of 975,361 shares, compared to its average volume of 845,281. Terex has a 52 week low of $43.70 and a 52 week high of $68.08. The firm’s 50-day simple moving average is $57.00 and its 200 day simple moving average is $59.02. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of 7.20, a price-to-earnings-growth ratio of 3.68 and a beta of 1.57. The company has a current ratio of 2.21, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36.

Terex (NYSE:TEX) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.10. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Terex had a return on equity of 27.89% and a net margin of 9.55%. Terex’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the firm earned $2.35 EPS. Sell-side analysts forecast that Terex will post 7.25 earnings per share for the current fiscal year.

Terex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, August 9th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Friday, August 9th. Terex’s dividend payout ratio (DPR) is presently 9.01%.

Insider Buying and Selling at Terex

In other Terex news, CAO Stephen Johnston sold 3,239 shares of the company’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 sale, the chief accounting officer now directly owns 14,606 shares of the company’s stock, valued at $905,572. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Terex news, CAO Stephen Johnston sold 3,239 shares of the company’s 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 completion of the transaction, the chief accounting officer now owns 14,606 shares in the company, valued at $905,572. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Scott Posner sold 12,500 shares of the company’s 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 transaction, the vice president now owns 58,224 shares of the company’s stock, valued at approximately $3,521,387.52. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Blue Trust Inc. raised its position in shares of Terex by 179.0% during the 4th quarter. Blue Trust Inc. now owns 466 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 299 shares during the last quarter. FinTrust Capital Advisors LLC grew its stake in Terex by 202.2% during the 1st quarter. FinTrust Capital Advisors LLC now owns 695 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 465 shares in the last quarter. OLD Point Trust & Financial Services N A purchased a new stake in Terex during the 4th quarter valued at about $61,000. Principal Securities Inc. purchased a new stake in Terex during the 4th quarter valued at about $85,000. Finally, International Assets Investment Management LLC purchased a new stake in Terex during the 2nd quarter valued at about $109,000. Institutional investors and hedge funds own 92.88% of the company’s stock.

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.