JPMorgan Chase & Co. Cuts Terex (NYSE:TEX) Price Target to $52.00

Terex (NYSE:TEX) had its price objective reduced by JPMorgan Chase & Co. from $59.00 to $52.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 15.81% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Citigroup lowered 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. The Goldman Sachs Group decreased their price target on Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Robert W. Baird reduced their target price on Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Finally, Truist Financial reduced their target price on Terex from $65.00 to $58.00 and set a “buy” rating for the company 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 given a buy rating to the company. According to data from MarketBeat, Terex currently has an average rating of “Hold” and an average price target of $57.67.

Terex Trading Up 0.0 %

Shares of NYSE TEX traded up $0.01 during mid-day trading on Tuesday, hitting $44.90. 185,139 shares of the company traded hands, compared to its average volume of 594,609. 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 has a 1 year low of $43.50 and a 1 year high of $68.08. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 6.55, a PEG ratio of 4.00 and a beta of 1.55. The business has a 50 day moving average of $50.12 and a two-hundred day moving average of $53.13.

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

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Chartwell Investment Partners LLC purchased a new position in Terex during the third quarter valued at approximately $559,000. Edgestream Partners L.P. boosted its position in Terex by 181.6% during the second quarter. Edgestream Partners L.P. now owns 68,898 shares of the industrial products company’s stock valued at $3,778,000 after purchasing an additional 44,432 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Terex in the third quarter valued at about $615,000. AQR Capital Management LLC raised its holdings in Terex by 18.4% in the second quarter. AQR Capital Management LLC now owns 1,837,563 shares of the industrial products company’s stock worth $99,045,000 after purchasing an additional 285,750 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of Terex by 40.2% during the third quarter. Barclays PLC now owns 129,250 shares of the industrial products company’s stock valued at $6,838,000 after buying an additional 37,072 shares during 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.