Terex (NYSE:TEX) Price Target Cut to $62.00 by Analysts at JPMorgan Chase & Co.

Terex (NYSE:TEX) had its price target lowered by JPMorgan Chase & Co. from $65.00 to $62.00 in a report published on Monday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the industrial products company’s stock.

TEX has been the subject of a number of other reports. Evercore ISI cut their price target on Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Jefferies Financial Group cut their target price on shares of Terex from $68.00 to $55.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. The Goldman Sachs Group decreased their price target on shares of Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, September 20th. Citigroup cut their price objective on shares of Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a research report on Monday, September 23rd. Finally, Raymond James initiated coverage on 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 given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Terex has an average rating of “Hold” and a consensus price target of $60.30.

Terex Price Performance

NYSE TEX opened at $56.35 on Monday. The company has a market cap of $3.79 billion, a P/E ratio of 7.46, a P/E/G ratio of 4.59 and a beta of 1.53. Terex has a 1 year low of $43.70 and a 1 year high of $68.08. The company has a current ratio of 2.21, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36. The company has a fifty day simple moving average of $53.40 and a 200 day simple moving average of $56.91.

Terex (NYSE:TEX) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.10. Terex had a return on equity of 27.89% and a net margin of 9.55%. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the business posted $2.35 earnings per share. The firm’s revenue was down 1.5% compared to the same quarter last year. On average, sell-side analysts predict that Terex will post 5.91 EPS for the current year.

Terex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.21%. The ex-dividend date is Friday, November 8th. Terex’s dividend payout ratio is 9.01%.

Insider Buying and Selling at Terex

In other news, Director Andra Rush purchased 2,205 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average cost of $54.36 per share, with a total value of $119,863.80. Following the acquisition, the director now directly owns 21,983 shares of the company’s stock, valued at approximately $1,194,995.88. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Terex

A number of hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position in shares of Terex by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,812,383 shares of the industrial products company’s stock worth $154,224,000 after purchasing an additional 109,885 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Terex by 18.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,837,563 shares of the industrial products company’s stock worth $99,045,000 after buying an additional 285,750 shares in the last quarter. Greenhaven Associates Inc. boosted its position in Terex by 1.6% in the 2nd quarter. Greenhaven Associates Inc. now owns 1,499,671 shares of the industrial products company’s stock valued at $82,242,000 after buying an additional 23,371 shares during the last quarter. American Century Companies Inc. boosted its position in Terex by 25.6% in the 2nd quarter. American Century Companies Inc. now owns 1,322,729 shares of the industrial products company’s stock valued at $72,538,000 after buying an additional 269,777 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Terex by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 790,118 shares of the industrial products company’s stock valued at $43,330,000 after buying an additional 26,377 shares during the period. Institutional investors own 92.88% of the company’s stock.

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.