Truist Financial Trims Terex (NYSE:TEX) Target Price to $68.00

Terex (NYSE:TEX) had its price target dropped by stock analysts at Truist Financial from $73.00 to $68.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target would suggest a potential upside of 25.46% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Citigroup began coverage on Terex in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $60.00 target price for the company. JPMorgan Chase & Co. cut Terex from an “overweight” rating to a “neutral” rating and set a $63.00 price target on the stock. in a report on Monday, March 18th. UBS Group lifted their price objective on Terex from $62.00 to $64.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 21st. Finally, Raymond James started coverage on shares of Terex in a research report on Friday, June 28th. They set a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $64.67.

Terex Stock Up 1.5 %

Shares of NYSE TEX opened at $54.20 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 2.16 and a debt-to-equity ratio of 0.42. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 7.18 and a beta of 1.57. Terex has a 12-month low of $43.70 and a 12-month high of $65.89. The firm’s 50-day simple moving average is $57.62 and its 200 day simple moving average is $58.78.

Terex (NYSE:TEX) last announced its earnings results on Thursday, April 25th. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.23. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.23 billion. Terex had a net margin of 9.87% and a return on equity of 30.53%. On average, research analysts expect that Terex will post 7.11 earnings per share for the current fiscal year.

Insider Transactions at Terex

In related news, insider Kieran Hegarty sold 17,190 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $58.26, for a total value of $1,001,489.40. Following the completion of the sale, the insider now owns 200,029 shares in the company, valued at approximately $11,653,689.54. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, 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 transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kieran Hegarty sold 17,190 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $58.26, for a total transaction of $1,001,489.40. Following the transaction, the insider now directly owns 200,029 shares of the company’s stock, valued at $11,653,689.54. The disclosure for this sale can be found here. Insiders have sold a total of 32,929 shares of company stock valued at $1,958,307 over the last three months. 1.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Terex

Large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its holdings in shares of Terex by 3.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,675,548 shares of the industrial products company’s stock valued at $153,742,000 after purchasing an additional 78,362 shares during the last quarter. Greenhaven Associates Inc. raised its holdings in Terex by 101.5% in the 4th quarter. Greenhaven Associates Inc. now owns 1,456,700 shares of the industrial products company’s stock valued at $83,702,000 after acquiring an additional 733,690 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Terex by 4.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 921,985 shares of the industrial products company’s stock worth $52,977,000 after acquiring an additional 42,364 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Terex by 2.5% during the fourth quarter. Victory Capital Management Inc. now owns 803,906 shares of the industrial products company’s stock worth $46,192,000 after acquiring an additional 19,925 shares during the period. Finally, Norges Bank acquired a new position in shares of Terex in the fourth quarter valued at approximately $42,606,000. 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.