Citigroup Cuts Terex (NYSE:TEX) Price Target to $45.00

Terex (NYSE:TEX) had its price objective lowered by Citigroup from $48.00 to $45.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. dropped their price objective on shares of Terex from $59.00 to $52.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. StockNews.com lowered Terex from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Barclays decreased their price target on shares of Terex from $60.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Monday, February 10th. Truist Financial reduced their target price on Terex from $65.00 to $58.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, Evercore ISI lowered their price target on Terex from $63.00 to $59.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Terex has a consensus rating of “Hold” and a consensus target price of $54.22.

Terex Price Performance

Shares of NYSE:TEX opened at $39.60 on Monday. Terex has a twelve month low of $36.15 and a twelve month high of $68.08. The company has a current ratio of 2.16, a quick ratio of 1.09 and a debt-to-equity ratio of 1.41. The company has a market cap of $2.63 billion, a PE ratio of 7.98, a price-to-earnings-growth ratio of 4.53 and a beta of 1.56. The company’s 50 day moving average is $44.31 and its 200 day moving average is $49.12.

Terex (NYSE:TEX) last posted its earnings results on Thursday, February 6th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. Terex had a net margin of 6.54% and a return on equity of 21.99%. During the same quarter in the prior year, the firm earned $1.88 earnings per share. On average, sell-side analysts forecast that Terex will post 4.83 EPS for the current year.

Terex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.72%. The ex-dividend date was Friday, March 7th. Terex’s payout ratio is currently 13.71%.

Insider Transactions at Terex

In other Terex news, Director Andra Rush acquired 1,325 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $36.96 per share, for a total transaction of $48,972.00. Following the completion of the acquisition, the director now owns 23,308 shares of the company’s stock, valued at approximately $861,463.68. The trade was a 6.03 % increase in their position. The purchase 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 Investors Weigh In On Terex

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TEX. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Terex during the 4th quarter worth about $59,179,000. Mackenzie Financial Corp increased its position in shares of Terex by 124.9% during the fourth quarter. Mackenzie Financial Corp now owns 9,897 shares of the industrial products company’s stock valued at $457,000 after acquiring an additional 5,497 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Terex in the 4th quarter valued at approximately $29,000. Vise Technologies Inc. lifted its holdings in shares of Terex by 11.1% in the 4th quarter. Vise Technologies Inc. now owns 5,373 shares of the industrial products company’s stock worth $248,000 after acquiring an additional 538 shares during the last quarter. Finally, CSS LLC IL boosted its position in shares of Terex by 49.5% during the 4th quarter. CSS LLC IL now owns 27,077 shares of the industrial products company’s stock worth $1,251,000 after purchasing an additional 8,970 shares during the period. Hedge funds and other institutional investors own 92.88% of the company’s stock.

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.