Terex Co. (NYSE:TEX) Receives Average Recommendation of “Hold” from Brokerages

Shares of Terex Co. (NYSE:TEX) have been assigned a consensus recommendation of “Hold” from the ten analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $58.78.

TEX has been the topic of a number of recent research reports. Citigroup lowered their price target on shares of Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a research report on Monday, September 23rd. The Goldman Sachs Group lowered their target price on shares of Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. Robert W. Baird cut their price target on Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. JPMorgan Chase & Co. lowered their price objective on Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Finally, Truist Financial cut their target price on Terex from $65.00 to $58.00 and set a “buy” rating for the company in a research report on Thursday, December 19th.

Terex Trading Up 2.8 %

Shares of TEX stock opened at $45.75 on Wednesday. Terex has a 12-month low of $44.04 and a 12-month high of $68.08. The firm has a 50 day moving average price of $51.05 and a two-hundred day moving average price of $53.49. The company has a quick ratio of 1.16, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $3.06 billion, a PE ratio of 6.68, a price-to-earnings-growth ratio of 4.00 and a beta of 1.53.

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

Terex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, November 8th were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.68 annualized dividend and a dividend yield of 1.49%. Terex’s payout ratio is 9.93%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Terex

Several large investors have recently bought and sold shares of the company. Chartwell Investment Partners LLC bought a new position in Terex in the 3rd quarter valued at approximately $559,000. Edgestream Partners L.P. raised its stake in shares of Terex by 181.6% during the second quarter. Edgestream Partners L.P. now owns 68,898 shares of the industrial products company’s stock valued at $3,778,000 after acquiring an additional 44,432 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Terex during the third quarter worth $615,000. AQR Capital Management LLC increased its holdings 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 during the period. Finally, Barclays PLC increased its holdings in Terex by 40.2% in the third quarter. Barclays PLC now owns 129,250 shares of the industrial products company’s stock valued at $6,838,000 after purchasing an additional 37,072 shares during the period. 92.88% of the stock is currently owned by institutional investors.

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.