Citigroup Cuts Terex (NYSE:TEX) Price Target to $48.00

Terex (NYSE:TEX) had its price objective cut by investment analysts at Citigroup from $57.00 to $48.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. Citigroup’s price target indicates a potential upside of 5.73% from the company’s previous close.

TEX has been the subject of a number of other research reports. JPMorgan Chase & Co. dropped their price objective on Terex from $59.00 to $52.00 and set a “neutral” rating for the company in a research report on Tuesday. The Goldman Sachs Group reduced their price target on shares of Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Robert W. Baird lowered their price objective on shares of Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Finally, Truist Financial cut their target price on shares of Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Terex currently has an average rating of “Hold” and a consensus price target of $56.67.

Terex Stock Performance

Shares of Terex stock traded up $0.51 during trading on Tuesday, reaching $45.40. The company’s stock had a trading volume of 359,675 shares, compared to its average volume of 615,534. Terex has a 52 week low of $43.50 and a 52 week high of $68.08. The business’s 50-day moving average price is $50.12 and its 200-day moving average price is $53.13. The firm has a market cap of $3.03 billion, a PE ratio of 6.63, a P/E/G ratio of 4.00 and a beta of 1.55. The company has a quick ratio of 1.16, a current ratio of 2.39 and a debt-to-equity ratio of 0.32.

Terex (NYSE:TEX) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.15. Terex had a return on equity of 24.92% and a net margin of 9.08%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the firm earned $1.75 earnings per share. Terex’s revenue for the quarter was down 6.0% compared to the same quarter last year. Equities analysts forecast that Terex will post 6.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Simon Meester sold 9,877 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $51.14, for a total value of $505,109.78. Following the transaction, the chief executive officer now directly owns 127,858 shares of the company’s stock, valued at $6,538,658.12. The trade was a 7.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David A. Sachs purchased 20,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were acquired at an average price of $49.75 per share, for a total transaction of $995,000.00. Following the completion of the acquisition, the director now directly owns 137,500 shares in the company, valued at approximately $6,840,625. This represents a 17.02 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Terex

Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in Terex by 83.3% during the 3rd quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 335 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Terex during the third quarter valued at approximately $40,000. Truvestments Capital LLC bought a new stake in Terex during the third quarter worth $41,000. Blue Trust Inc. raised its position in Terex by 89.3% in the 3rd quarter. Blue Trust Inc. now owns 969 shares of the industrial products company’s stock valued at $53,000 after buying an additional 457 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Terex by 74.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company’s stock valued at $62,000 after acquiring an additional 504 shares in the last quarter. Institutional investors own 92.88% of the company’s stock.

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.