Truist Financial Forecasts Strong Price Appreciation for Terex (NYSE:TEX) Stock

Terex (NYSE:TEX) had its price objective hoisted by Truist Financial from $62.00 to $65.00 in a research note published on Monday, Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. cut their price target on shares of Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Robert W. Baird decreased their price target on Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Citigroup dropped their price objective on Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a research note on Monday, September 23rd. Evercore ISI reduced their target price on shares of Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Finally, The Goldman Sachs Group dropped their target price on shares of Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $59.56.

Terex Stock Performance

NYSE:TEX traded up $0.14 during mid-day trading on Monday, hitting $51.36. 20,919 shares of the company’s stock traded hands, compared to its average volume of 820,169. The company has a current ratio of 2.39, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32. The firm has a 50 day moving average of $53.29 and a two-hundred day moving average of $56.02. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 7.55, a price-to-earnings-growth ratio of 4.25 and a beta of 1.53. Terex has a 12 month low of $46.94 and a 12 month high of $68.08.

Terex (NYSE:TEX) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.15. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.16 billion. Terex had a net margin of 9.08% and a return on equity of 24.92%. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.75 EPS. On average, equities analysts forecast that Terex will post 5.92 earnings per share for the current fiscal year.

Terex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.32%. The ex-dividend date is Friday, November 8th. Terex’s payout ratio is 9.93%.

Institutional Investors Weigh In On Terex

Hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP bought a new position in Terex during the third quarter worth about $615,000. Entropy Technologies LP lifted its stake in Terex by 69.6% in the third quarter. Entropy Technologies LP now owns 17,553 shares of the industrial products company’s stock valued at $929,000 after buying an additional 7,204 shares in the last quarter. Chartwell Investment Partners LLC acquired a new position in shares of Terex in the third quarter valued at approximately $559,000. State of New Jersey Common Pension Fund D increased its position in shares of Terex by 10.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 35,207 shares of the industrial products company’s stock worth $1,863,000 after acquiring an additional 3,223 shares in the last quarter. Finally, Covestor Ltd lifted its position in Terex by 19.9% in the 3rd quarter. Covestor Ltd now owns 2,237 shares of the industrial products company’s stock valued at $119,000 after acquiring an additional 372 shares in the last quarter. 92.88% of the stock is currently 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.