Terex (NYSE:TEX) Given New $62.00 Price Target at The Goldman Sachs Group

Terex (NYSE:TEX) had its price objective reduced by research analysts at The Goldman Sachs Group from $72.00 to $62.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 15.18% from the company’s previous close.

A number of other analysts also recently issued reports on the stock. Jefferies Financial Group lowered their price objective on shares of Terex from $68.00 to $55.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Citigroup began coverage on shares of Terex in a research report on Wednesday, June 26th. They set a “neutral” rating and a $60.00 price target on the stock. Evercore ISI reduced their price objective on shares of Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Raymond James assumed coverage on Terex in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. Finally, Truist Financial increased their price target on Terex from $68.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $62.30.

Terex Price Performance

Shares of TEX stock opened at $53.83 on Friday. The company has a quick ratio of 1.07, a current ratio of 2.21 and a debt-to-equity ratio of 0.36. Terex has a 12-month low of $43.70 and a 12-month high of $68.08. The firm has a fifty day moving average of $56.02 and a 200-day moving average of $57.89. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 7.13, a price-to-earnings-growth ratio of 3.61 and a beta of 1.53.

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

Insider Activity

In other news, Director Andra Rush purchased 2,205 shares of Terex stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average cost of $54.36 per share, for a total transaction of $119,863.80. Following the purchase, the director now directly owns 21,983 shares of the company’s stock, valued at approximately $1,194,995.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Blue Trust Inc. grew its holdings in shares of Terex by 57.5% during the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 187 shares in the last quarter. FinTrust Capital Advisors LLC grew its holdings 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 purchasing an additional 465 shares during the last quarter. OLD Point Trust & Financial Services N A acquired a new position in Terex during the 4th quarter worth approximately $61,000. International Assets Investment Management LLC bought a new position in Terex in the 2nd quarter valued at approximately $109,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in Terex in the second quarter valued at approximately $111,000. 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.