Citigroup Lowers Terex (NYSE:TEX) Price Target to $36.00

Terex (NYSE:TEX - Get Free Report) had its price target reduced by analysts at Citigroup from $45.00 to $36.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the industrial products company's stock. Citigroup's target price indicates a potential upside of 3.01% from the stock's previous close.

A number of other brokerages have also recently issued reports on TEX. Barclays dropped their target price on shares of Terex from $60.00 to $52.00 and set an "equal weight" rating for the company in a research report on Monday, February 10th. UBS Group lowered shares of Terex from a "neutral" rating to a "sell" rating and dropped their price objective for the stock from $49.00 to $32.00 in a report on Monday, April 7th. JPMorgan Chase & Co. reduced their target price on Terex from $51.00 to $48.00 and set a "neutral" rating on the stock in a report on Tuesday, March 18th. Truist Financial dropped their price target on Terex from $58.00 to $47.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Finally, The Goldman Sachs Group reduced their price objective on Terex from $60.00 to $52.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $48.44.

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Terex Price Performance

TEX traded up $0.77 during midday trading on Tuesday, reaching $34.95. 872,593 shares of the company's stock were exchanged, compared to its average volume of 904,753. The company has a quick ratio of 1.09, a current ratio of 2.16 and a debt-to-equity ratio of 1.41. The business has a 50-day simple moving average of $40.44 and a two-hundred day simple moving average of $47.12. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 7.05, a price-to-earnings-growth ratio of 4.53 and a beta of 1.40. Terex has a one year low of $31.53 and a one year high of $68.08.

Terex (NYSE:TEX - Get Free Report) last posted its earnings results on Thursday, February 6th. The industrial products company reported $0.77 EPS for the quarter, topping 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 quarter in the prior year, the firm posted $1.88 earnings per share. As a group, research analysts predict that Terex will post 4.83 EPS for the current year.

Insider Activity at Terex

In other news, Director Andra Rush acquired 1,325 shares of Terex stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average price of $36.96 per share, with a total value of $48,972.00. Following the purchase, the director now directly owns 23,308 shares of the company's stock, valued at $861,463.68. The trade was a 6.03 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Terex

Several hedge funds have recently bought and sold shares of TEX. E. Ohman J or Asset Management AB grew its position in Terex by 66.4% in the first quarter. E. Ohman J or Asset Management AB now owns 61,727 shares of the industrial products company's stock valued at $2,332,000 after purchasing an additional 24,626 shares in the last quarter. Cascade Investment Advisors Inc. increased its holdings in shares of Terex by 4.8% during the first quarter. Cascade Investment Advisors Inc. now owns 24,255 shares of the industrial products company's stock worth $916,000 after purchasing an additional 1,105 shares during the period. GAMMA Investing LLC lifted its position in Terex by 6,144.2% during the first quarter. GAMMA Investing LLC now owns 49,454 shares of the industrial products company's stock worth $1,868,000 after purchasing an additional 48,662 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Terex during the 4th quarter worth approximately $59,179,000. Finally, Mackenzie Financial Corp grew its position in 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 acquiring an additional 5,497 shares during the last quarter. 92.88% of the stock is currently owned by institutional investors and hedge funds.

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.