Terex (NYSE:TEX) Price Target Cut to $62.00

Terex (NYSE:TEX) had its price target cut by analysts at JPMorgan Chase & Co. from $65.00 to $62.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 11.25% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. Robert W. Baird increased their target price on shares of Terex from $63.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Evercore ISI dropped their price objective on shares of Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Truist Financial dropped their price objective on shares of Terex from $63.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Raymond James began coverage on shares of Terex in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Finally, The Goldman Sachs Group dropped their price objective on shares of Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. 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. According to data from MarketBeat, Terex presently has an average rating of “Hold” and an average target price of $60.30.

Terex Trading Up 0.6 %

NYSE TEX opened at $55.73 on Monday. Terex has a 12 month low of $43.70 and a 12 month high of $68.08. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.21 and a quick ratio of 1.07. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 7.38, a price-to-earnings-growth ratio of 4.43 and a beta of 1.53. The company’s fifty day moving average price is $53.32 and its two-hundred day moving average price is $56.92.

Terex (NYSE:TEX) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.10. The company had revenue of $1.38 billion for 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 firm’s revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.35 earnings per share. As a group, research analysts predict that Terex will post 5.88 earnings per share for the current fiscal year.

Insider Transactions at Terex

In other Terex news, Director Andra Rush acquired 2,205 shares of the stock in a transaction dated Friday, August 2nd. The shares were bought at an average price of $54.36 per share, with a total value 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. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TEX. V Square Quantitative Management LLC purchased a new position in shares of Terex in the fourth quarter worth approximately $399,000. Quadrature Capital Ltd purchased a new position in Terex during the fourth quarter valued at approximately $319,000. Westend Capital Management LLC purchased a new position in Terex during the first quarter valued at approximately $203,000. Range Financial Group LLC grew its position in Terex by 6.5% during the first quarter. Range Financial Group LLC now owns 13,690 shares of the industrial products company’s stock valued at $882,000 after purchasing an additional 837 shares in the last quarter. Finally, Hennessy Advisors Inc. grew its position in Terex by 43.9% during the first quarter. Hennessy Advisors Inc. now owns 77,700 shares of the industrial products company’s stock valued at $5,004,000 after purchasing an additional 23,700 shares in the last quarter. 92.88% of the stock is owned by hedge funds and other 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.