Raymond James Initiates Coverage on Terex (NYSE:TEX)

Raymond James started coverage on shares of Terex (NYSE:TEX) in a report issued on Friday, Benzinga reports. The brokerage set a “market perform” rating on the industrial products company’s stock.

Several other brokerages have also recently commented on TEX. Truist Financial began coverage on Terex in a report on Thursday, March 14th. They set a “buy” rating and a $73.00 target price on the stock. JPMorgan Chase & Co. cut shares of Terex from an “overweight” rating to a “neutral” rating and set a $63.00 target price for the company. in a report on Monday, March 18th. UBS Group raised their price objective on shares of Terex from $62.00 to $64.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. Finally, Citigroup started coverage on Terex in a research report on Wednesday. They issued a “neutral” rating and a $60.00 target price for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $65.08.

Terex Stock Performance

Shares of NYSE TEX opened at $53.15 on Friday. Terex has a 12-month low of $43.70 and a 12-month high of $65.89. The company has a current ratio of 2.16, a quick ratio of 1.06 and a debt-to-equity ratio of 0.42. The company has a market cap of $3.58 billion, a PE ratio of 7.04 and a beta of 1.61. The stock has a 50 day simple moving average of $58.16 and a 200-day simple moving average of $58.75.

Terex (NYSE:TEX) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.23. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Terex had a return on equity of 30.53% and a net margin of 9.87%. On average, equities research analysts forecast that Terex will post 7.09 EPS for the current year.

Insider Activity at Terex

In other news, VP Scott Posner sold 12,500 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $60.48, for a total value of $756,000.00. Following the completion of the transaction, the vice president now directly owns 58,224 shares of the company’s stock, valued at approximately $3,521,387.52. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, VP Scott Posner sold 12,500 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $60.48, for a total transaction of $756,000.00. Following the completion of the sale, the vice president now owns 58,224 shares in the company, valued at approximately $3,521,387.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kieran Hegarty sold 17,190 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $58.26, for a total transaction of $1,001,489.40. Following the sale, the insider now directly owns 200,029 shares in the company, valued at $11,653,689.54. The disclosure for this sale can be found here. Insiders have sold a total of 32,929 shares of company stock valued at $1,958,307 over the last quarter. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TEX. Blue Trust Inc. lifted its stake in shares of Terex by 179.0% during the fourth quarter. Blue Trust Inc. now owns 466 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 299 shares during the period. McGlone Suttner Wealth Management Inc. acquired a new stake in Terex during the 4th quarter worth $29,000. FinTrust Capital Advisors LLC raised its position in shares of Terex by 202.2% during the 1st quarter. FinTrust Capital Advisors LLC now owns 695 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 465 shares during the last quarter. OLD Point Trust & Financial Services N A acquired a new position in shares of Terex in the 4th quarter valued at $61,000. Finally, Principal Securities Inc. bought a new position in shares of Terex in the 4th quarter worth $85,000. Institutional investors own 92.88% of the company’s stock.

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.