Terex (NYSE:TEX) Price Target Cut to $45.00 by Analysts at Citigroup

Terex (NYSE:TEX) had its price target decreased by Citigroup from $48.00 to $45.00 in a research report sent to investors on Monday,Benzinga reports. Citigroup currently has a neutral rating on the industrial products company’s stock.

Several other research analysts have also recently commented on the company. JPMorgan Chase & Co. lowered their target price on Terex from $59.00 to $52.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Truist Financial cut their target price on shares of Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Evercore ISI decreased their price target on shares of Terex from $63.00 to $59.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Barclays dropped their price objective on shares of Terex from $60.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Monday, February 10th. Finally, StockNews.com cut shares of Terex from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, eight 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 a consensus target price of $54.22.

Terex Stock Down 0.1 %

Shares of TEX opened at $39.60 on Monday. The company’s 50-day simple moving average is $44.31 and its 200-day simple moving average is $49.12. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.09 and a current ratio of 2.16. Terex has a 1 year low of $36.15 and a 1 year high of $68.08. The stock has a market capitalization of $2.63 billion, a PE ratio of 7.98, a P/E/G ratio of 4.53 and a beta of 1.56.

Terex (NYSE:TEX) last released its earnings results on Thursday, February 6th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. Terex had a net margin of 6.54% and a return on equity of 21.99%. During the same quarter last year, the firm posted $1.88 EPS. Analysts forecast that Terex will post 4.83 earnings per share for the current fiscal year.

Terex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.68 annualized dividend and a yield of 1.72%. Terex’s dividend payout ratio is presently 13.71%.

Insiders Place Their Bets

In other Terex news, Director Andra Rush bought 1,325 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $36.96 per share, with a total value of $48,972.00. Following the acquisition, the director now directly owns 23,308 shares of the company’s stock, valued at $861,463.68. The trade was a 6.03 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cascade Investment Advisors Inc. acquired a new stake in shares of Terex during the fourth quarter worth about $1,070,000. GSA Capital Partners LLP acquired a new stake in Terex during the 3rd quarter worth approximately $615,000. Barclays PLC grew its stake in shares of Terex by 40.2% in the 3rd 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 last quarter. Point72 Asset Management L.P. acquired a new position in shares of Terex in the third quarter valued at approximately $4,283,000. Finally, Citigroup Inc. raised its stake in shares of Terex by 65.6% during the third quarter. Citigroup Inc. now owns 70,443 shares of the industrial products company’s stock worth $3,727,000 after purchasing an additional 27,896 shares during the last quarter. 92.88% of the stock is owned by hedge funds and other 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.