Evercore ISI Cuts Terex (NYSE:TEX) Price Target to $59.00

Terex (NYSE:TEX) had its price objective lowered by Evercore ISI from $63.00 to $59.00 in a research note released on Wednesday,Benzinga reports. Evercore ISI currently has an outperform rating on the industrial products company’s stock.

Other research analysts have also recently issued reports about the stock. Citigroup reduced their price objective on shares of Terex from $57.00 to $48.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Truist Financial dropped their target price on shares of Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. JPMorgan Chase & Co. dropped their target price on shares of Terex from $59.00 to $52.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Barclays lowered their price target on shares of Terex from $60.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Monday, February 10th. Finally, StockNews.com lowered shares of Terex from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Terex presently has a consensus rating of “Hold” and a consensus target price of $56.11.

Terex Stock Performance

Shares of Terex stock opened at $43.21 on Wednesday. Terex has a fifty-two week low of $43.01 and a fifty-two week high of $68.08. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.16 and a quick ratio of 1.09. The firm has a market capitalization of $2.87 billion, a P/E ratio of 8.71, a P/E/G ratio of 4.70 and a beta of 1.54. The company’s 50 day moving average price is $46.26 and its two-hundred day moving average price is $50.95.

Terex (NYSE:TEX) last released its quarterly 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 net margin of 6.54% and a return on equity of 21.99%. During the same quarter in the prior year, the company earned $1.88 earnings per share. On average, equities analysts forecast that Terex will post 4.83 earnings per share for the current fiscal year.

Terex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Friday, March 7th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, March 7th. This represents a $0.68 annualized dividend and a yield of 1.57%. Terex’s dividend payout ratio (DPR) is 13.71%.

Insider Activity at Terex

In other Terex news, Director David A. Sachs purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were bought at an average price of $51.30 per share, with a total value of $513,000.00. Following the completion of the purchase, the director now directly owns 107,500 shares in the company, valued at $5,514,750. This trade represents a 10.26 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Simon Meester sold 9,877 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $51.14, for a total transaction of $505,109.78. Following the sale, the chief executive officer now directly owns 127,858 shares in the company, valued at approximately $6,538,658.12. The trade was a 7.17 % decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Terex

Several hedge funds and other institutional investors have recently made changes to their positions in TEX. Cascade Investment Advisors Inc. bought a new position in shares of Terex in the fourth quarter worth about $1,070,000. Chartwell Investment Partners LLC bought a new position in Terex during the 3rd quarter worth about $559,000. GSA Capital Partners LLP purchased a new stake in shares of Terex during the third quarter valued at about $615,000. 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. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Terex during the third quarter valued at about $4,283,000. Hedge funds and other 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.