The Goldman Sachs Group Lowers Terex (NYSE:TEX) Price Target to $62.00

Terex (NYSE:TEX) had its target price decreased by stock analysts at The Goldman Sachs Group from $72.00 to $62.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 19.55% from the stock’s current price.

TEX has been the subject of a number of other reports. Truist Financial increased their price target on Terex from $68.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Citigroup assumed coverage on Terex in a research report on Wednesday, June 26th. They set a “neutral” rating and a $60.00 price target for the company. JPMorgan Chase & Co. increased their price target on Terex from $59.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Robert W. Baird increased their price target on Terex from $58.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Finally, Jefferies Financial Group decreased their price target on Terex from $68.00 to $55.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $61.20.

Terex Stock Performance

Shares of Terex stock opened at $51.86 on Friday. The company has a market cap of $3.47 billion, a PE ratio of 6.87, a price-to-earnings-growth ratio of 3.61 and a beta of 1.53. Terex has a 52 week low of $43.70 and a 52 week high of $68.08. The business has a 50 day moving average price of $55.96 and a 200-day moving average price of $57.83. The company has a quick ratio of 1.07, a current ratio of 2.21 and a debt-to-equity ratio of 0.36.

Terex (NYSE:TEX) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.16 EPS for the quarter, topping the consensus estimate of $2.06 by $0.10. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.43 billion. Terex had a return on equity of 27.89% and a net margin of 9.55%. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.35 earnings per share. Equities analysts anticipate that Terex will post 7.21 earnings per share for the current fiscal year.

Insider Transactions at Terex

In related news, Director Andra Rush purchased 2,205 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was purchased 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 directly owns 21,983 shares of the company’s stock, valued at $1,194,995.88. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Terex

A number of large investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC bought a new position in shares of Terex in the second quarter worth $590,000. New Century Financial Group LLC bought a new stake in Terex during the second quarter valued at $275,000. Northwestern Mutual Wealth Management Co. boosted its stake in Terex by 15.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,928 shares of the industrial products company’s stock valued at $161,000 after buying an additional 397 shares during the period. Creative Planning boosted its stake in Terex by 18.5% during the second quarter. Creative Planning now owns 17,334 shares of the industrial products company’s stock valued at $951,000 after buying an additional 2,708 shares during the period. Finally, Dorsey Wright & Associates boosted its stake in Terex by 0.3% during the second quarter. Dorsey Wright & Associates now owns 61,309 shares of the industrial products company’s stock valued at $3,362,000 after buying an additional 186 shares during the period. 92.88% of the stock is owned by institutional investors.

Terex Company Profile

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.