JPMorgan Chase & Co. Issues Pessimistic Forecast for Terex (NYSE:TEX) Stock Price

Terex (NYSE:TEX) had its target price decreased by equities researchers at JPMorgan Chase & Co. from $59.00 to $52.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 10.78% from the stock’s previous close.

Several other research firms have also commented on TEX. Truist Financial cut their price objective on Terex from $65.00 to $58.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Citigroup dropped their price target on Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a research report on Monday, September 23rd. Robert W. Baird decreased their price objective on Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Finally, The Goldman Sachs Group dropped their target price on shares of Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Terex currently has an average rating of “Hold” and a consensus price target of $56.67.

Terex Trading Up 2.4 %

Shares of TEX stock opened at $46.94 on Tuesday. Terex has a 1-year low of $43.50 and a 1-year high of $68.08. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 6.85, a PEG ratio of 4.00 and a beta of 1.55. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.16. The stock has a 50 day simple moving average of $49.99 and a 200-day simple moving average of $53.07.

Terex (NYSE:TEX) last posted its quarterly earnings data 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. Terex had a net margin of 9.08% and a return on equity of 24.92%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the firm posted $1.75 earnings per share. The company’s revenue was down 6.0% compared to the same quarter last year. On average, equities research analysts expect that Terex will post 6.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other Terex news, CEO Simon Meester sold 9,877 shares of Terex 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 sale, the chief executive officer now owns 127,858 shares in the company, valued at $6,538,658.12. The trade was a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David A. Sachs purchased 20,000 shares of the stock in a transaction dated Friday, December 13th. The shares were acquired at an average price of $49.75 per share, with a total value of $995,000.00. Following the completion of the acquisition, the director now owns 137,500 shares in the company, valued at approximately $6,840,625. This trade represents a 17.02 % increase in their position. The disclosure for this purchase can be found here. 1.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. increased its position in shares of Terex by 10.5% during the second quarter. Envestnet Asset Management Inc. now owns 100,408 shares of the industrial products company’s stock valued at $5,506,000 after acquiring an additional 9,530 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in 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 purchasing an additional 109,885 shares during the last quarter. Edgestream Partners L.P. raised its position in Terex by 181.6% in 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 purchasing an additional 44,432 shares during the period. Hsbc Holdings PLC raised its position in Terex by 177.4% in the second quarter. Hsbc Holdings PLC now owns 14,670 shares of the industrial products company’s stock valued at $799,000 after purchasing an additional 9,382 shares during the period. Finally, Kendall Capital Management boosted its position in shares of Terex by 47.6% during the second quarter. Kendall Capital Management now owns 8,305 shares of the industrial products company’s stock worth $455,000 after buying an additional 2,680 shares during the period. Institutional investors and hedge funds 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.