Citigroup Cuts Terex (NYSE:TEX) Price Target to $57.00

Terex (NYSE:TEX) had its price objective reduced by Citigroup from $60.00 to $57.00 in a research report sent to investors on Monday, Benzinga reports. Citigroup currently has a neutral rating on the industrial products company’s stock.

Several other equities analysts have also recently weighed in on the stock. The Goldman Sachs Group decreased their target price on shares of Terex from $72.00 to $62.00 and set a neutral rating for the company in a research note on Friday, September 20th. JPMorgan Chase & Co. boosted their price objective on shares of Terex from $59.00 to $65.00 and gave the stock a neutral rating in a research note on Tuesday, July 23rd. Raymond James began coverage on shares of Terex in a research note on Friday, June 28th. They issued a market perform rating for the company. Truist Financial reduced their price target on Terex from $74.00 to $63.00 and set a buy rating for the company in a report on Friday, September 20th. Finally, Robert W. Baird upped their price objective on Terex from $58.00 to $67.00 and gave the company a neutral rating in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Terex currently has a consensus rating of Hold and a consensus target price of $60.90.

Terex Price Performance

Shares of TEX opened at $52.08 on Monday. The company has a 50 day moving average of $55.49 and a 200-day moving average of $57.67. The company has a quick ratio of 1.07, a current ratio of 2.21 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $3.48 billion, a P/E ratio of 6.90, a P/E/G ratio of 4.44 and a beta of 1.53. Terex has a twelve month low of $43.70 and a twelve month high of $68.08.

Terex (NYSE:TEX) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.16 EPS for the quarter, topping the consensus estimate of $2.06 by $0.10. Terex had a net margin of 9.55% and a return on equity of 27.89%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the firm posted $2.35 EPS. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, equities research analysts forecast that Terex will post 5.88 EPS for the current fiscal year.

Terex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, August 9th were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.68 annualized dividend and a yield of 1.31%. Terex’s dividend payout ratio (DPR) is presently 9.01%.

Insider Buying and Selling at Terex

In other Terex news, Director Andra Rush bought 2,205 shares of Terex stock in a transaction dated Friday, August 2nd. The stock was bought at an average price of $54.36 per share, with a total value of $119,863.80. Following the completion of the transaction, the director now owns 21,983 shares in the company, valued at approximately $1,194,995.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.90% of the company’s stock.

Institutional Trading of Terex

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank bought a new position in shares of Terex during the fourth quarter worth approximately $42,606,000. HM Payson & Co. bought a new position in Terex during the 1st quarter worth $24,429,000. Curated Wealth Partners LLC raised its holdings in Terex by 200.0% in the 2nd quarter. Curated Wealth Partners LLC now owns 176,922 shares of the industrial products company’s stock valued at $9,702,000 after acquiring an additional 353,844 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of 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 valued at $99,045,000 after acquiring an additional 285,750 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of Terex by 25.6% during 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 acquiring an additional 269,777 shares during the period. Institutional investors and hedge funds 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.