Terex (NYSE:TEX) Price Target Cut to $48.00 by Analysts at Citigroup

Terex (NYSE:TEX) had its target price cut by Citigroup from $57.00 to $48.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

Several other equities research analysts also recently weighed in on TEX. JPMorgan Chase & Co. reduced their price target on Terex from $59.00 to $52.00 and set a “neutral” rating on the stock in a report on Tuesday. Robert W. Baird reduced their target price on Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Truist Financial lowered their target price on shares of Terex from $65.00 to $58.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group reduced their price target on shares of Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. One investment 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 company has a consensus rating of “Hold” and a consensus target price of $56.67.

Terex Stock Up 2.0 %

NYSE TEX opened at $45.81 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. Terex has a 52 week low of $43.50 and a 52 week high of $68.08. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 6.69, a PEG ratio of 4.00 and a beta of 1.55. The company has a fifty day moving average of $50.12 and a two-hundred day moving average of $53.13.

Terex (NYSE:TEX) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.15. Terex had a net margin of 9.08% and a return on equity of 24.92%. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the company earned $1.75 EPS. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. On average, analysts predict that Terex will post 6.07 earnings per share for the current year.

Insider Activity at Terex

In other Terex news, Director David A. Sachs purchased 20,000 shares of Terex stock in a transaction dated Friday, December 13th. The stock was acquired at an average price of $49.75 per share, for a total transaction of $995,000.00. Following the acquisition, the director now owns 137,500 shares in the company, valued at $6,840,625. This trade represents a 17.02 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Simon Meester sold 9,877 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $51.14, for a total transaction of $505,109.78. Following the completion of the sale, the chief executive officer now directly owns 127,858 shares of the company’s stock, valued at $6,538,658.12. The trade was 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 Investors Weigh In On Terex

Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of Terex by 83.3% during the 3rd quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 335 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Terex during the 3rd quarter valued at about $40,000. Truvestments Capital LLC purchased a new stake in Terex in the third quarter valued at about $41,000. Blue Trust Inc. boosted its holdings in Terex by 89.3% in the third quarter. Blue Trust Inc. now owns 969 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 457 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of Terex by 74.6% during the third quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 504 shares during the last quarter. 92.88% of the stock is currently 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.