Barclays Cuts Terex (NYSE:TEX) Price Target to $52.00

Terex (NYSE:TEX) had its price objective cut by Barclays from $60.00 to $52.00 in a report published on Monday,Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

A number of other analysts have also recently issued reports on the stock. Robert W. Baird reduced their target price on shares of Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Truist Financial decreased their price objective 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. JPMorgan Chase & Co. reduced their price target on Terex from $59.00 to $52.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Citigroup dropped their price objective on shares of Terex from $57.00 to $48.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Finally, StockNews.com downgraded Terex from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $56.11.

Terex Price Performance

TEX opened at $44.80 on Monday. The firm has a market capitalization of $2.99 billion, a P/E ratio of 9.03, a PEG ratio of 4.53 and a beta of 1.54. The stock has a fifty day moving average of $47.07 and a 200-day moving average of $51.60. The company has a quick ratio of 1.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.41. Terex has a 12-month low of $43.23 and a 12-month high of $68.08.

Terex (NYSE:TEX) last announced its quarterly earnings data on Thursday, February 6th. The industrial products company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. Terex had a return on equity of 21.99% and a net margin of 6.54%. During the same quarter last year, the firm posted $1.88 earnings per share. Equities analysts forecast that Terex will post 5.03 EPS for the current fiscal year.

Terex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Friday, March 7th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, March 7th. This represents a $0.68 annualized dividend and a yield of 1.52%. Terex’s dividend payout ratio (DPR) is 13.71%.

Insiders Place Their Bets

In other Terex news, 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 transaction, the chief executive officer now directly owns 127,858 shares in the company, valued at approximately $6,538,658.12. This represents a 7.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David A. Sachs purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were acquired at an average cost of $51.30 per share, with a total value of $513,000.00. Following the completion of the purchase, the director now owns 107,500 shares of the company’s stock, valued at $5,514,750. The trade was a 10.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Terex

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Greenwich Wealth Management LLC increased its stake in shares of Terex by 0.3% in the 3rd quarter. Greenwich Wealth Management LLC now owns 62,371 shares of the industrial products company’s stock valued at $3,300,000 after acquiring an additional 181 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Terex by 46.1% during 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 in the last quarter. US Bancorp DE increased its position in shares of Terex by 4.0% in the 3rd quarter. US Bancorp DE now owns 5,837 shares of the industrial products company’s stock valued at $309,000 after buying an additional 227 shares in the last quarter. Lingohr Asset Management GmbH raised its stake in Terex by 2.0% during the 3rd quarter. Lingohr Asset Management GmbH now owns 11,516 shares of the industrial products company’s stock worth $607,000 after buying an additional 230 shares during the period. Finally, Verdence Capital Advisors LLC lifted its holdings in Terex by 4.4% during the third quarter. Verdence Capital Advisors LLC now owns 5,575 shares of the industrial products company’s stock worth $295,000 after acquiring an additional 233 shares in the last quarter. Institutional investors own 92.88% of the company’s stock.

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.