Truist Financial Lowers Terex (NYSE:TEX) Price Target to $63.00

Terex (NYSE:TEX) had its target price trimmed by Truist Financial from $74.00 to $63.00 in a research note published on Friday, Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

TEX has been the topic of a number of other research reports. Raymond James started coverage on Terex in a report on Friday, June 28th. They issued a market perform rating on the stock. The Goldman Sachs Group lowered their price target on Terex from $72.00 to $62.00 and set a neutral rating on the stock in a report on Friday. Jefferies Financial Group lowered their target price on Terex from $68.00 to $55.00 and set a hold rating on the stock in a report on Thursday, July 11th. Evercore ISI lowered their target price on Terex from $67.00 to $59.00 and set an outperform rating on the stock in a report on Monday, August 19th. Finally, Citigroup began coverage on Terex in a report on Wednesday, June 26th. They set a neutral rating and a $60.00 target price on the stock. One research 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, the company presently has an average rating of Hold and an average price target of $60.90.

Terex Stock Up 1.2 %

TEX opened at $52.48 on Friday. The company has a market cap of $3.53 billion, a PE ratio of 6.95, a P/E/G ratio of 3.61 and a beta of 1.53. The business has a 50 day moving average price of $55.89 and a two-hundred day moving average price of $57.79. Terex has a 52 week low of $43.70 and a 52 week high of $68.08. The company has a quick ratio of 1.07, a current ratio of 2.21 and a debt-to-equity ratio of 0.36.

Terex (NYSE:TEX) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.10. The business had revenue of $1.38 billion during 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 revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.35 EPS. As a group, research analysts anticipate that Terex will post 7.21 EPS for the current year.

Terex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, August 9th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Friday, August 9th. Terex’s dividend payout ratio (DPR) is 9.01%.

Insider Transactions at Terex

In other Terex news, Director Andra Rush acquired 2,205 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were acquired at an average price of $54.36 per share, for a total transaction of $119,863.80. Following the completion of the acquisition, the director now directly owns 21,983 shares of the company’s stock, valued at $1,194,995.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Clearbridge Investments LLC raised its position in shares of Terex by 2.6% in the 1st quarter. Clearbridge Investments LLC now owns 351,153 shares of the industrial products company’s stock worth $22,614,000 after buying an additional 8,908 shares during the period. TCW Group Inc. purchased a new position in shares of Terex in the 2nd quarter worth $566,000. Russell Investments Group Ltd. raised its position in shares of Terex by 11.5% in the 1st quarter. Russell Investments Group Ltd. now owns 316,692 shares of the industrial products company’s stock worth $20,395,000 after buying an additional 32,630 shares during the period. DekaBank Deutsche Girozentrale raised its position in shares of Terex by 26.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 106,849 shares of the industrial products company’s stock worth $6,809,000 after buying an additional 22,291 shares during the period. Finally, Connectus Wealth LLC purchased a new position in Terex in the fourth quarter valued at about $1,872,000. 92.88% of the stock is owned by hedge funds and other 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.