Terex (NYSE:TEX) Now Covered by Raymond James

Research analysts at Raymond James initiated coverage on shares of Terex (NYSE:TEX) in a note issued to investors on Friday, MarketBeat.com reports. The firm set a “market perform” rating on the industrial products company’s stock.

Other research analysts have also recently issued research reports about the stock. Truist Financial assumed coverage on shares of Terex in a research report on Thursday, March 14th. They set a “buy” rating and a $73.00 price objective on the stock. UBS Group boosted their price objective on shares of Terex from $62.00 to $64.00 and gave the company a “neutral” rating in a research report on Tuesday, May 21st. JPMorgan Chase & Co. cut shares of Terex from an “overweight” rating to a “neutral” rating and set a $63.00 price target on the stock. in a report on Monday, March 18th. Finally, Citigroup initiated coverage on shares of Terex in a report on Wednesday. They issued a “neutral” rating and a $60.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $65.08.

Terex Stock Performance

Shares of TEX stock opened at $54.84 on Friday. The company has a 50 day moving average price of $58.05 and a 200-day moving average price of $58.83. Terex has a 52 week low of $43.70 and a 52 week high of $65.89. The firm has a market capitalization of $3.69 billion, a PE ratio of 7.26 and a beta of 1.61. The company has a quick ratio of 1.06, a current ratio of 2.16 and a debt-to-equity ratio of 0.42.

Terex (NYSE:TEX) last announced its earnings results on Thursday, April 25th. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.23. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.23 billion. Terex had a net margin of 9.87% and a return on equity of 30.53%. As a group, equities research analysts expect that Terex will post 7.09 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Kieran Hegarty sold 17,190 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $58.26, for a total transaction of $1,001,489.40. Following the sale, the insider now owns 200,029 shares of the company’s stock, valued at approximately $11,653,689.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Kieran Hegarty sold 17,190 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $58.26, for a total transaction of $1,001,489.40. Following the transaction, the insider now owns 200,029 shares in the company, valued at approximately $11,653,689.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Stephen Johnston sold 3,239 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $62.00, for a total value of $200,818.00. Following the transaction, the chief accounting officer now owns 14,606 shares in the company, valued at approximately $905,572. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,929 shares of company stock worth $1,958,307. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC raised its holdings in shares of Terex by 1.6% during the 4th quarter. SummerHaven Investment Management LLC now owns 11,692 shares of the industrial products company’s stock worth $672,000 after acquiring an additional 188 shares during the period. Greenwich Wealth Management LLC raised its holdings in shares of Terex by 0.3% during the 4th quarter. Greenwich Wealth Management LLC now owns 61,670 shares of the industrial products company’s stock worth $3,544,000 after acquiring an additional 209 shares during the period. QRG Capital Management Inc. raised its holdings in shares of Terex by 4.6% during the 4th quarter. QRG Capital Management Inc. now owns 5,332 shares of the industrial products company’s stock worth $306,000 after acquiring an additional 234 shares during the period. Kestra Advisory Services LLC raised its holdings in shares of Terex by 3.4% during the 3rd quarter. Kestra Advisory Services LLC now owns 7,736 shares of the industrial products company’s stock worth $446,000 after acquiring an additional 254 shares during the period. Finally, FCG Investment Co raised its holdings in shares of Terex by 4.7% during the 1st quarter. FCG Investment Co now owns 6,314 shares of the industrial products company’s stock worth $407,000 after acquiring an additional 285 shares during the period. Hedge funds and other institutional investors 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.