Terex (NYSE:TEX) Stock Price Down 3.1% on Analyst Downgrade

Terex Co. (NYSE:TEX) shares fell 3.1% during mid-day trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $51.00 to $48.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Terex traded as low as $39.65 and last traded at $39.05. 53,976 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 822,304 shares. The stock had previously closed at $40.31.

A number of other analysts have also issued reports on the company. Truist Financial reduced their target price on Terex from $65.00 to $58.00 and set a “buy” rating for the company in a report on Thursday, December 19th. StockNews.com downgraded shares of Terex from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Citigroup dropped their price target on shares of Terex from $48.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday. Evercore ISI dropped their price target on shares of Terex from $63.00 to $59.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Finally, Barclays dropped 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 note on Monday, February 10th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $55.33.

Insiders Place Their Bets

In other Terex news, Director Andra Rush bought 1,325 shares of the stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of $36.96 per share, with a total value of $48,972.00. Following the completion of the transaction, the director now directly owns 23,308 shares of the company’s stock, valued at $861,463.68. This represents a 6.03 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Terex

Hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Terex in the fourth quarter valued at about $59,179,000. Mackenzie Financial Corp grew its position in shares of Terex by 124.9% in the fourth quarter. Mackenzie Financial Corp now owns 9,897 shares of the industrial products company’s stock valued at $457,000 after purchasing an additional 5,497 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Terex in the fourth quarter valued at about $29,000. Vise Technologies Inc. grew its position in shares of Terex by 11.1% in the fourth quarter. Vise Technologies Inc. now owns 5,373 shares of the industrial products company’s stock valued at $248,000 after purchasing an additional 538 shares during the last quarter. Finally, CSS LLC IL grew its position in shares of Terex by 49.5% in the fourth quarter. CSS LLC IL now owns 27,077 shares of the industrial products company’s stock valued at $1,251,000 after purchasing an additional 8,970 shares during the last quarter. 92.88% of the stock is owned by institutional investors and hedge funds.

Terex Trading Up 0.1 %

The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of 8.00, a P/E/G ratio of 4.53 and a beta of 1.56. The company has a 50-day moving average price of $44.41 and a 200-day moving average price of $49.18. The company has a quick ratio of 1.09, a current ratio of 2.16 and a debt-to-equity ratio of 1.41.

Terex (NYSE:TEX) last issued 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 return on equity of 21.99% and a net margin of 6.54%. During the same period in the prior year, the company earned $1.88 EPS. Research analysts predict that Terex Co. will post 4.83 EPS for the current fiscal year.

Terex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Friday, March 7th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Friday, March 7th. Terex’s payout ratio is presently 13.71%.

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.