Truist Financial Lowers Terex (NYSE:TEX) Price Target to $58.00

Terex (NYSE:TEX) had its target price dropped by equities researchers at Truist Financial from $65.00 to $58.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target would suggest a potential upside of 28.69% from the company’s previous close.

TEX has been the topic of several other research reports. Robert W. Baird reduced their target price on shares of Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. JPMorgan Chase & Co. reduced their price target on shares of Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. The Goldman Sachs Group cut their target price on shares of Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Finally, Citigroup reduced their target price on Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $58.78.

Terex Stock Performance

NYSE:TEX opened at $45.07 on Thursday. The firm has a market capitalization of $3.01 billion, a PE ratio of 6.58, a price-to-earnings-growth ratio of 4.00 and a beta of 1.53. The company has a quick ratio of 1.16, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. Terex has a 12-month low of $44.60 and a 12-month high of $68.08. The firm has a 50-day moving average price of $53.10 and a 200 day moving average price of $54.28.

Terex (NYSE:TEX) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.15. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Terex had a return on equity of 24.92% and a net margin of 9.08%. Terex’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.75 EPS. Research analysts anticipate that Terex will post 6.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Simon Meester sold 9,877 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $51.14, for a total value of $505,109.78. Following the transaction, the chief executive officer now owns 127,858 shares of the company’s stock, valued at $6,538,658.12. This represents a 7.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David A. Sachs purchased 10,000 shares of Terex stock in a transaction dated Wednesday, December 11th. The stock was bought at an average price of $51.30 per share, for a total transaction of $513,000.00. Following the completion of the transaction, the director now directly owns 107,500 shares in the company, valued at $5,514,750. The trade was a 10.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Terex

Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in shares of Terex by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,812,383 shares of the industrial products company’s stock valued at $154,224,000 after acquiring an additional 109,885 shares during the period. AQR Capital Management LLC increased its stake in Terex by 18.4% in the second quarter. AQR Capital Management LLC now owns 1,837,563 shares of the industrial products company’s stock valued at $99,045,000 after purchasing an additional 285,750 shares in the last quarter. Geode Capital Management LLC increased its stake in Terex by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,596,070 shares of the industrial products company’s stock valued at $84,463,000 after purchasing an additional 8,624 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Terex by 25.6% during the second quarter. American Century Companies Inc. now owns 1,322,729 shares of the industrial products company’s stock worth $72,538,000 after purchasing an additional 269,777 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Terex by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 790,118 shares of the industrial products company’s stock worth $43,330,000 after acquiring an additional 26,377 shares in the last quarter. 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.