Terex (NYSE:TEX) Price Target Increased to $74.00 by Analysts at Truist Financial

Terex (NYSE:TEX) had its price target increased by Truist Financial from $68.00 to $74.00 in a research report sent to investors on Thursday, Benzinga reports. Truist Financial currently has a buy rating on the industrial products company’s stock.

Several other research firms also recently weighed in on TEX. Robert W. Baird boosted their target price on Terex from $58.00 to $67.00 and gave the company a neutral rating in a research report on Monday, July 22nd. UBS Group boosted their target price on Terex from $62.00 to $64.00 and gave the company a neutral rating in a research report on Tuesday, May 21st. Jefferies Financial Group cut their target price on Terex from $68.00 to $55.00 and set a hold rating on the stock in a research report on Thursday, July 11th. Raymond James began coverage on Terex in a research report on Friday, June 28th. They set a market perform rating on the stock. Finally, Citigroup began coverage on Terex in a report on Wednesday, June 26th. They set a neutral rating and a $60.00 price objective for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Terex presently has a consensus rating of Hold and a consensus target price of $63.70.

Terex Price Performance

TEX traded down $0.87 on Thursday, hitting $53.52. 975,361 shares of the company’s stock traded hands, compared to its average volume of 845,281. The company’s 50 day simple moving average is $57.00 and its 200-day simple moving average is $59.02. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 7.20, a P/E/G ratio of 3.68 and a beta of 1.57. Terex has a one year low of $43.70 and a one year high of $68.08. The company has a current ratio of 2.21, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36.

Terex (NYSE:TEX) last released its quarterly earnings data 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. Terex had a return on equity of 27.89% and a net margin of 9.55%. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the company posted $2.35 EPS. The company’s revenue was down 1.5% compared to the same quarter last year. As a group, research analysts anticipate that Terex will post 7.25 EPS for the current year.

Terex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, August 9th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.27%. The ex-dividend date is Friday, August 9th. Terex’s dividend payout ratio is presently 9.01%.

Insiders Place Their Bets

In other news, VP Scott Posner sold 12,500 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $60.48, for a total value of $756,000.00. Following the completion of the transaction, the vice president now directly owns 58,224 shares in the company, valued at $3,521,387.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Terex news, CAO Stephen Johnston sold 3,239 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $62.00, for a total transaction of $200,818.00. Following the sale, the chief accounting officer now directly owns 14,606 shares of the company’s stock, valued at approximately $905,572. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Scott Posner sold 12,500 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $60.48, for a total value of $756,000.00. Following the sale, the vice president now directly owns 58,224 shares in the company, valued at $3,521,387.52. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Terex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers boosted its stake in shares of Terex by 6.6% during the 2nd quarter. Rhumbline Advisers now owns 237,693 shares of the industrial products company’s stock worth $13,035,000 after acquiring an additional 14,657 shares in the last quarter. Versor Investments LP acquired a new stake in Terex in the 2nd quarter worth about $406,000. Waterfront Wealth Inc. boosted its holdings in Terex by 19.5% in the 2nd quarter. Waterfront Wealth Inc. now owns 26,799 shares of the industrial products company’s stock worth $1,470,000 after buying an additional 4,377 shares during the last quarter. AM Squared Ltd boosted its holdings in Terex by 64.3% in the 2nd quarter. AM Squared Ltd now owns 2,300 shares of the industrial products company’s stock worth $126,000 after buying an additional 900 shares during the last quarter. Finally, nVerses Capital LLC acquired a new stake in Terex in the 2nd quarter worth about $208,000. 92.88% of the stock is owned by institutional investors and hedge funds.

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.