Truist Financial Issues Positive Forecast for Terex (NYSE:TEX) Stock Price

Terex (NYSE:TEX) had its price target increased by Truist Financial from $62.00 to $65.00 in a research report released on Monday morning, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. dropped their price objective on shares of Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Robert W. Baird lowered their target price on Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Citigroup decreased their price target on Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. Evercore ISI dropped their target price on shares of Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Finally, Jefferies Financial Group lowered their price objective on shares of Terex from $68.00 to $55.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Terex presently has an average rating of “Hold” and an average price target of $59.56.

Terex Trading Up 0.3 %

Terex stock traded up $0.14 during midday trading on Monday, reaching $51.36. The stock had a trading volume of 20,919 shares, compared to its average volume of 820,169. The stock’s 50-day simple moving average is $53.29 and its 200 day simple moving average is $56.02. Terex has a twelve month low of $46.94 and a twelve 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 stock has a market capitalization of $3.43 billion, a PE ratio of 7.55, a price-to-earnings-growth ratio of 4.25 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 for the quarter, beating the consensus estimate of $1.31 by $0.15. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.16 billion. Terex had a return on equity of 24.92% and a net margin of 9.08%. The company’s revenue was down 6.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.75 EPS. Analysts expect that Terex will post 5.92 EPS for the current year.

Terex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, November 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.32%. Terex’s dividend payout ratio is currently 9.93%.

Institutional Trading of Terex

A number of hedge funds have recently modified their holdings of the business. Clearbridge Investments LLC grew its stake in Terex by 2.6% during the 1st quarter. Clearbridge Investments LLC now owns 351,153 shares of the industrial products company’s stock valued at $22,614,000 after acquiring an additional 8,908 shares in the last quarter. TCW Group Inc. bought a new stake in Terex in the second quarter worth approximately $566,000. Russell Investments Group Ltd. raised its holdings in shares of Terex by 11.5% during the 1st quarter. Russell Investments Group Ltd. now owns 316,692 shares of the industrial products company’s stock valued at $20,395,000 after purchasing an additional 32,630 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of Terex by 26.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 106,849 shares of the industrial products company’s stock valued at $6,809,000 after purchasing an additional 22,291 shares during the last quarter. Finally, Edgestream Partners L.P. increased its position in Terex by 181.6% during the second quarter. Edgestream Partners L.P. now owns 68,898 shares of the industrial products company’s stock worth $3,778,000 after buying an additional 44,432 shares during the last quarter. Hedge funds and other institutional investors 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.