Terex (NYSE:TEX) Price Target Cut to $63.00

Terex (NYSE:TEX) had its price objective decreased by research analysts at Truist Financial from $74.00 to $63.00 in a report released on Friday, Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price objective points to a potential upside of 21.48% from the company’s current price.

Other analysts also recently issued reports about the stock. The Goldman Sachs Group reduced their target price on shares of Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday. Evercore ISI cut their price objective 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. JPMorgan Chase & Co. lifted their target price on shares of Terex from $59.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Jefferies Financial Group cut their price target on Terex from $68.00 to $55.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Finally, Raymond James initiated coverage on Terex in a research note on Friday, June 28th. They set a “market perform” rating for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $61.20.

Terex Price Performance

TEX stock opened at $51.86 on Friday. The firm has a 50-day moving average of $55.96 and a 200 day moving average of $57.83. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.21 and a quick ratio of 1.07. The company has a market cap of $3.47 billion, a P/E ratio of 6.87, a PEG ratio of 3.61 and a beta of 1.53. Terex has a 1 year low of $43.70 and a 1 year high of $68.08.

Terex (NYSE:TEX) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.10. Terex had a return on equity of 27.89% and a net margin of 9.55%. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the company earned $2.35 EPS. The business’s revenue was down 1.5% compared to the same quarter last year. On average, sell-side analysts forecast that Terex will post 7.21 EPS for the current year.

Insiders Place Their Bets

In related news, Director Andra Rush purchased 2,205 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were purchased at an average price of $54.36 per share, with a total value of $119,863.80. Following the acquisition, the director now directly owns 21,983 shares in the company, valued at approximately $1,194,995.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Terex

Several hedge funds and other institutional investors have recently modified their holdings of TEX. Sanctuary Advisors LLC purchased a new stake in Terex during the second quarter valued at $590,000. New Century Financial Group LLC purchased a new stake in shares of Terex during the 2nd quarter valued at about $275,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Terex by 15.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,928 shares of the industrial products company’s stock worth $161,000 after purchasing an additional 397 shares during the period. Creative Planning boosted its holdings in shares of Terex by 18.5% in the second quarter. Creative Planning now owns 17,334 shares of the industrial products company’s stock worth $951,000 after buying an additional 2,708 shares during the last quarter. Finally, Dorsey Wright & Associates increased its holdings 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 last quarter. 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.