Citigroup Cuts Terex (NYSE:TEX) Price Target to $57.00

Terex (NYSE:TEX) had its target price decreased by stock analysts at Citigroup from $60.00 to $57.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. Citigroup’s price target points to a potential upside of 10.87% from the stock’s current price.

A number of other brokerages also recently issued reports on TEX. Raymond James started coverage on Terex in a research report on Friday, June 28th. They set a “market perform” rating for the company. Truist Financial dropped their price target on shares of Terex from $74.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday. Jefferies Financial Group reduced their price objective on shares of Terex from $68.00 to $55.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. JPMorgan Chase & Co. lifted their target price on shares of Terex from $59.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Finally, Evercore ISI lowered their target price 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. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Terex has an average rating of “Hold” and a consensus target price of $60.90.

Terex Price Performance

Shares of NYSE:TEX traded down $0.45 during trading on Monday, hitting $51.41. 174,033 shares of the company were exchanged, compared to its average volume of 829,299. The company has a quick ratio of 1.07, a current ratio of 2.21 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $3.44 billion, a P/E ratio of 6.82, a price-to-earnings-growth ratio of 3.61 and a beta of 1.53. Terex has a 1-year low of $43.70 and a 1-year high of $68.08. The business’s 50 day moving average is $55.96 and its 200-day moving average is $57.84.

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

Insider Buying and Selling at Terex

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Norges Bank bought a new position in shares of Terex in the fourth quarter valued at approximately $42,606,000. HM Payson & Co. purchased a new position in Terex during the 1st quarter worth $24,429,000. Curated Wealth Partners LLC grew its stake in shares of Terex by 200.0% in the 2nd quarter. Curated Wealth Partners LLC now owns 176,922 shares of the industrial products company’s stock worth $9,702,000 after acquiring an additional 353,844 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Terex by 18.4% in the second quarter. AQR Capital Management LLC now owns 1,837,563 shares of the industrial products company’s stock valued at $99,045,000 after purchasing an additional 285,750 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in Terex by 25.6% during the second quarter. American Century Companies Inc. now owns 1,322,729 shares of the industrial products company’s stock worth $72,538,000 after purchasing an additional 269,777 shares during the last quarter. 92.88% of the stock is owned by 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.