Truist Financial Cuts Terex (NYSE:TEX) Price Target to $63.00

Terex (NYSE:TEX) had its price objective reduced by Truist Financial from $74.00 to $63.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Other equities analysts have also recently issued research reports about the stock. Robert W. Baird lifted their target price on shares of Terex from $58.00 to $67.00 and gave the stock a neutral rating in a research report on Monday, July 22nd. The Goldman Sachs Group cut 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. Citigroup initiated coverage on shares of Terex in a research report on Wednesday, June 26th. They set a neutral rating and a $60.00 target price for the company. Raymond James initiated coverage on shares of Terex in a research report on Friday, June 28th. They issued a market perform rating for the company. Finally, Jefferies Financial Group cut their price objective on shares of Terex from $68.00 to $55.00 and set a hold rating for the company in a research report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $61.20.

Terex Stock Down 3.7 %

Shares of NYSE TEX opened at $51.86 on Friday. The company has a quick ratio of 1.07, a current ratio of 2.21 and a debt-to-equity ratio of 0.36. Terex has a 52 week low of $43.70 and a 52 week high of $68.08. The firm has a 50-day moving average price of $55.96 and a 200 day moving average price of $57.84. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 6.87, a price-to-earnings-growth ratio of 3.61 and a beta of 1.53.

Terex (NYSE:TEX) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.16 EPS for the quarter, beating the consensus estimate of $2.06 by $0.10. Terex had a net margin of 9.55% and a return on equity of 27.89%. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the business earned $2.35 earnings per share. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities research analysts anticipate that Terex will post 7.21 EPS for the current fiscal year.

Terex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, August 9th were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.68 dividend on an annualized basis and a yield of 1.31%. Terex’s payout ratio is 9.01%.

Insider Activity at Terex

In related news, Director Andra Rush bought 2,205 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average cost of $54.36 per share, for a total transaction of $119,863.80. Following the completion of the acquisition, the director now owns 21,983 shares in the company, valued at $1,194,995.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Terex

Several institutional investors have recently bought and sold shares of the business. Sanctuary Advisors LLC purchased a new stake in Terex during the second quarter worth approximately $590,000. New Century Financial Group LLC acquired a new position in shares of Terex during the second quarter worth $275,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Terex by 15.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,928 shares of the industrial products company’s stock worth $161,000 after purchasing an additional 397 shares in the last quarter. Creative Planning lifted its position in shares of Terex by 18.5% during the second quarter. Creative Planning now owns 17,334 shares of the industrial products company’s stock worth $951,000 after purchasing an additional 2,708 shares in the last quarter. Finally, Dorsey Wright & Associates lifted its position in shares of Terex by 0.3% during the second quarter. Dorsey Wright & Associates now owns 61,309 shares of the industrial products company’s stock worth $3,362,000 after purchasing an additional 186 shares in the last quarter. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

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.