Terex (NYSE:TEX) Stock Price Down 3.1% After Analyst Downgrade

Terex Co. (NYSE:TEX)’s stock price traded down 3.1% during mid-day trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $51.00 to $48.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Terex traded as low as $39.65 and last traded at $39.05. 53,976 shares traded hands during trading, a decline of 93% from the average session volume of 822,304 shares. The stock had previously closed at $40.31.

Other analysts have also issued research reports about the company. Evercore ISI lowered their price target on Terex from $63.00 to $59.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Truist Financial lowered their price target on Terex from $65.00 to $58.00 and set a “buy” rating for the company in a report on Thursday, December 19th. StockNews.com lowered Terex from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Barclays lowered their price target on Terex from $60.00 to $52.00 and set an “equal weight” rating for the company in a report on Monday, February 10th. Finally, Citigroup lowered their price target on Terex from $48.00 to $45.00 and set a “neutral” rating for the company in a report on Monday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Terex currently has a consensus rating of “Hold” and a consensus price target of $55.33.

Insider Transactions at Terex

In other Terex news, Director Andra Rush purchased 1,325 shares of Terex stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $36.96 per share, with a total value of $48,972.00. Following the completion of the transaction, the director now owns 23,308 shares in the company, valued at approximately $861,463.68. This trade represents a 6.03 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Terex

A number of large investors have recently made changes to their positions in TEX. State of New Jersey Common Pension Fund D increased its position in shares of Terex by 10.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 35,207 shares of the industrial products company’s stock valued at $1,863,000 after acquiring an additional 3,223 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Terex in the 3rd quarter valued at $615,000. Lingohr Asset Management GmbH increased its position in shares of Terex by 2.0% in the 3rd quarter. Lingohr Asset Management GmbH now owns 11,516 shares of the industrial products company’s stock valued at $607,000 after acquiring an additional 230 shares during the period. Advisors Asset Management Inc. increased its position in shares of Terex by 8.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 57,056 shares of the industrial products company’s stock valued at $3,019,000 after acquiring an additional 4,633 shares during the period. Finally, Moran Wealth Management LLC increased its position in shares of Terex by 2.7% in the 3rd quarter. Moran Wealth Management LLC now owns 45,339 shares of the industrial products company’s stock valued at $2,399,000 after acquiring an additional 1,209 shares during the period. 92.88% of the stock is owned by institutional investors and hedge funds.

Terex Stock Performance

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 firm has a 50-day moving average of $44.41 and a 200-day moving average of $49.18. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of 8.00, a P/E/G ratio of 4.53 and a beta of 1.56.

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

Terex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.71%. Terex’s payout ratio is currently 13.71%.

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.