The Goldman Sachs Group Lowers Terex (NYSE:TEX) Price Target to $62.00

Terex (NYSE:TEX) had its target price cut by analysts at The Goldman Sachs Group from $72.00 to $62.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 19.55% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Evercore ISI decreased their price objective on Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Robert W. Baird boosted their price target on Terex from $58.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. boosted their price target on Terex from $59.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Citigroup began coverage on Terex in a report on Wednesday, June 26th. They set a “neutral” rating and a $60.00 price target on the stock. Finally, Truist Financial boosted their price target on Terex from $68.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $61.20.

Terex Stock Down 3.7 %

TEX opened at $51.86 on Friday. The company has a market cap of $3.47 billion, a P/E ratio of 6.87, a P/E/G ratio of 3.61 and a beta of 1.53. The business’s 50-day moving average price is $55.96 and its 200-day moving average price is $57.83. The company has a current ratio of 2.21, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36. Terex has a 12 month low of $43.70 and a 12 month high of $68.08.

Terex (NYSE:TEX) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.16 EPS for the quarter, topping the consensus estimate of $2.06 by $0.10. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.43 billion. Terex had a return on equity of 27.89% and a net margin of 9.55%. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.35 earnings per share. On average, equities analysts expect that Terex will post 7.21 EPS for the current year.

Insider Buying and Selling at Terex

In other news, Director Andra Rush acquired 2,205 shares of the business’s stock in a transaction 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 transaction, the director now owns 21,983 shares in the company, valued at approximately $1,194,995.88. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.90% of the company’s stock.

Institutional Trading of Terex

Hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. boosted its position in shares of Terex by 57.5% in the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 187 shares in the last quarter. FinTrust Capital Advisors LLC boosted its position in shares of Terex by 202.2% in the 1st quarter. FinTrust Capital Advisors LLC now owns 695 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 465 shares in the last quarter. OLD Point Trust & Financial Services N A bought a new stake in shares of Terex in the 4th quarter worth approximately $61,000. International Assets Investment Management LLC bought a new stake in shares of Terex in the 2nd quarter worth approximately $109,000. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Terex in the 2nd quarter worth approximately $111,000. 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.