Robert W. Baird Has Lowered Expectations for Terex (NYSE:TEX) Stock Price

Terex (NYSE:TEX) had its price objective lowered by Robert W. Baird from $65.00 to $55.00 in a research note published on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

TEX has been the subject of a number of other reports. JPMorgan Chase & Co. reduced their price objective 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. Citigroup decreased their price objective on Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a research note on Monday, September 23rd. Evercore ISI dropped their price objective on Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Jefferies Financial Group reduced their target price on Terex from $68.00 to $55.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Finally, Truist Financial lowered their price target on shares of Terex from $63.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $59.22.

Terex Stock Performance

Shares of TEX opened at $51.41 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.07. The firm has a market cap of $3.43 billion, a PE ratio of 7.51, a PEG ratio of 4.28 and a beta of 1.53. Terex has a 1 year low of $46.94 and a 1 year high of $68.08. The stock’s fifty day moving average price is $53.29 and its two-hundred day moving average price is $56.09.

Terex (NYSE:TEX) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.27 by $0.19. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.16 billion. Terex had a net margin of 9.08% and a return on equity of 24.92%. The company’s revenue was down 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.75 earnings per share. On average, equities research analysts forecast that Terex will post 5.92 EPS for the current year.

Terex Announces Dividend

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

Institutional Investors Weigh In On Terex

Several hedge funds have recently bought and sold shares of the stock. Greenwich Wealth Management LLC increased its holdings in shares of Terex by 0.3% in the 3rd quarter. Greenwich Wealth Management LLC now owns 62,371 shares of the industrial products company’s stock worth $3,300,000 after buying an additional 181 shares during the last quarter. Dorsey Wright & Associates grew its position in Terex by 0.3% in the second quarter. Dorsey Wright & Associates now owns 61,309 shares of the industrial products company’s stock worth $3,362,000 after acquiring an additional 186 shares in the last quarter. Blue Trust Inc. raised its position in Terex by 57.5% during the second quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 187 shares in the last quarter. FCG Investment Co lifted its stake in Terex by 3.5% during the second quarter. FCG Investment Co now owns 6,534 shares of the industrial products company’s stock worth $358,000 after purchasing an additional 220 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in shares of Terex by 4.0% in the 3rd quarter. US Bancorp DE now owns 5,837 shares of the industrial products company’s stock worth $309,000 after purchasing an additional 227 shares in the last quarter. 92.88% of the stock is currently owned by institutional investors.

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.