Terex (NYSE:TEX) Price Target Cut to $58.00 by Analysts at Truist Financial

Terex (NYSE:TEX) had its price target cut by analysts at Truist Financial from $65.00 to $58.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price objective would suggest a potential upside of 28.69% from the stock’s previous close.

A number of other analysts have also commented on TEX. JPMorgan Chase & Co. cut their price objective on shares of Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Citigroup reduced their price objective on shares of Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a research note on Monday, September 23rd. The Goldman Sachs Group decreased their price objective on Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Finally, Robert W. Baird dropped their target price on Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $58.78.

Terex Price Performance

TEX stock opened at $45.07 on Thursday. The stock has a market cap of $3.01 billion, a PE ratio of 6.58, a price-to-earnings-growth ratio of 4.00 and a beta of 1.53. The stock has a 50-day moving average price of $53.10 and a two-hundred day moving average price of $54.28. Terex has a 1 year low of $44.60 and a 1 year high of $68.08. The company has a current ratio of 2.39, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32.

Terex (NYSE:TEX) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.15. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.16 billion. Terex had a return on equity of 24.92% and a net margin of 9.08%. Terex’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period last year, the company earned $1.75 earnings per share. Equities analysts forecast that Terex will post 6.07 EPS for the current fiscal year.

Insider Transactions at Terex

In related news, Director David A. Sachs bought 20,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was bought at an average price of $49.75 per share, for a total transaction of $995,000.00. Following the purchase, the director now owns 137,500 shares in the company, valued at $6,840,625. This represents a 17.02 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Simon Meester sold 9,877 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $51.14, for a total transaction of $505,109.78. Following the completion of the transaction, the chief executive officer now owns 127,858 shares in the company, valued at approximately $6,538,658.12. This trade represents a 7.17 % decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Terex

Several hedge funds have recently added to or reduced their stakes in TEX. Franklin Resources Inc. grew its holdings in Terex by 1.0% in the 3rd quarter. Franklin Resources Inc. now owns 81,450 shares of the industrial products company’s stock valued at $4,512,000 after buying an additional 795 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Terex in the third quarter valued at about $40,000. Sanctuary Advisors LLC grew its stake in shares of Terex by 7.2% in the third quarter. Sanctuary Advisors LLC now owns 10,610 shares of the industrial products company’s stock valued at $571,000 after acquiring an additional 717 shares in the last quarter. Virtu Financial LLC acquired a new stake in Terex in the 3rd quarter worth about $704,000. Finally, Invst LLC bought a new stake in Terex in the 3rd quarter valued at about $206,000. 92.88% of the stock is owned by institutional investors and hedge funds.

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.