JPMorgan Chase & Co. Cuts Terex (NYSE:TEX) Price Target to $48.00

Terex (NYSE:TEX) had its price target reduced by JPMorgan Chase & Co. from $51.00 to $48.00 in a research note released on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the industrial products company’s stock.

TEX has been the subject of several other reports. Barclays decreased their target price on shares of Terex from $60.00 to $52.00 and set an “equal weight” rating for the company in a report on Monday, February 10th. Evercore ISI decreased their target price on shares of Terex from $63.00 to $59.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. StockNews.com cut shares of Terex from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Truist Financial decreased their target price on shares of Terex from $65.00 to $58.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, Citigroup decreased their target price on shares of Terex from $48.00 to $45.00 and set a “neutral” rating for the company in a report on Monday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $54.22.

Terex Trading Down 1.4 %

Shares of NYSE TEX opened at $39.07 on Tuesday. Terex has a 1 year low of $36.15 and a 1 year high of $68.08. The stock has a market cap of $2.59 billion, a P/E ratio of 7.88, a price-to-earnings-growth ratio of 4.53 and a beta of 1.56. The firm has a 50-day moving average of $44.19 and a 200 day moving average of $49.05. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.16 and a quick ratio of 1.09.

Terex (NYSE:TEX) last issued its quarterly earnings results on Thursday, February 6th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. Terex had a net margin of 6.54% and a return on equity of 21.99%. During the same quarter in the previous year, the company posted $1.88 earnings per share. As a group, sell-side analysts expect that Terex will post 4.83 EPS for the current fiscal year.

Terex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Friday, March 7th were issued a dividend of $0.17 per share. The ex-dividend date was Friday, March 7th. This represents a $0.68 annualized dividend and a dividend yield of 1.74%. Terex’s payout ratio is 13.71%.

Insider Activity at Terex

In other Terex news, Director Andra Rush bought 1,325 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average cost of $36.96 per share, for a total transaction of $48,972.00. Following the completion of the transaction, the director now owns 23,308 shares of the company’s stock, valued at $861,463.68. This represents a 6.03 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is currently owned by company insiders.

Institutional Trading of Terex

Several large investors have recently added to or reduced their stakes in TEX. Neo Ivy Capital Management bought a new stake in Terex during the fourth quarter valued at approximately $29,000. Jones Financial Companies Lllp bought a new position in shares of Terex in the fourth quarter worth approximately $31,000. Smartleaf Asset Management LLC boosted its position in shares of Terex by 46.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 704 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 222 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Terex in the third quarter worth approximately $40,000. Finally, Truvestments Capital LLC bought a new position in shares of Terex in the third quarter worth approximately $41,000. 92.88% of the stock is currently 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.