Terex (NYSE:TEX) Price Target Cut to $63.00 by Analysts at Truist Financial

Terex (NYSE:TEX) had its price target cut by Truist Financial from $74.00 to $63.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price objective would suggest a potential upside of 19.86% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Raymond James initiated coverage on shares of Terex in a research report on Friday, June 28th. They set a “market perform” rating for the company. The Goldman Sachs Group lowered their price objective on Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research report on Friday. Jefferies Financial Group cut their target price on Terex from $68.00 to $55.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Citigroup began coverage on Terex in a report on Wednesday, June 26th. They issued a “neutral” rating and a $60.00 price target for the company. Finally, Robert W. Baird raised their price objective on shares of Terex from $58.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $61.20.

Terex Stock Down 2.4 %

TEX traded down $1.27 on Friday, hitting $52.56. 403,900 shares of the company were exchanged, compared to its average volume of 825,540. The firm has a 50-day moving average price of $56.01 and a two-hundred day moving average price of $57.86. The company has a current ratio of 2.21, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36. Terex has a twelve month low of $43.70 and a twelve month high of $68.08. The company has a market cap of $3.52 billion, a price-to-earnings ratio of 6.96, a price-to-earnings-growth ratio of 3.61 and a beta of 1.53.

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

Insider Activity

In other Terex news, Director Andra Rush purchased 2,205 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average price of $54.36 per share, for a total transaction of $119,863.80. Following the purchase, the director now directly owns 21,983 shares in the company, valued at $1,194,995.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Terex

Institutional investors have recently modified their holdings of the company. Clearbridge Investments LLC boosted its position in Terex by 2.6% during the first quarter. Clearbridge Investments LLC now owns 351,153 shares of the industrial products company’s stock worth $22,614,000 after acquiring an additional 8,908 shares during the last quarter. TCW Group Inc. purchased a new stake in shares of Terex in the second quarter valued at $566,000. Russell Investments Group Ltd. increased its stake in Terex by 11.5% in the first quarter. Russell Investments Group Ltd. now owns 316,692 shares of the industrial products company’s stock valued at $20,395,000 after purchasing an additional 32,630 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in Terex by 26.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 106,849 shares of the industrial products company’s stock worth $6,809,000 after buying an additional 22,291 shares during the period. Finally, Connectus Wealth LLC acquired a new stake in Terex in the 4th quarter worth about $1,872,000. Institutional investors and hedge funds own 92.88% of the company’s stock.

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.