Citigroup Has Lowered Expectations for Terex (NYSE:TEX) Stock Price

Terex (NYSE:TEX - Get Free Report) had its price objective reduced by Citigroup from $57.00 to $48.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the industrial products company's stock. Citigroup's target price would suggest a potential upside of 4.78% from the company's current price.

TEX has been the subject of several other research reports. Robert W. Baird dropped their price objective on Terex from $65.00 to $55.00 and set a "neutral" rating for the company in a research note on Thursday, October 31st. The Goldman Sachs Group reduced their target price on Terex from $72.00 to $62.00 and set a "neutral" rating on the stock in a research note on Friday, September 20th. JPMorgan Chase & Co. cut their price objective on Terex from $59.00 to $52.00 and set a "neutral" rating for the company in a report on Tuesday. Finally, Truist Financial decreased their price objective on Terex from $65.00 to $58.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Terex has an average rating of "Hold" and an average price target of $56.67.

Terex Stock Performance

NYSE:TEX traded up $0.92 on Tuesday, hitting $45.81. The company's stock had a trading volume of 761,763 shares, compared to its average volume of 668,620. The stock has a fifty day moving average of $50.12 and a two-hundred day moving average of $53.13. Terex has a one year low of $43.50 and a one year high of $68.08. The firm has a market capitalization of $3.06 billion, a P/E ratio of 6.69, a price-to-earnings-growth ratio of 4.00 and a beta of 1.55. The company has a current ratio of 2.39, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32.

Terex (NYSE:TEX - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.15. Terex had a return on equity of 24.92% and a net margin of 9.08%. The business had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same period in the previous year, the company posted $1.75 earnings per share. The firm's revenue for the quarter was down 6.0% compared to the same quarter last year. Research analysts predict that Terex will post 6.07 earnings per share for the current year.

Insider Buying and Selling at Terex

In other news, CEO Simon Meester sold 9,877 shares of the firm'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 value of $505,109.78. Following the completion of the transaction, the chief executive officer now owns 127,858 shares in the company, valued at $6,538,658.12. This trade represents a 7.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David A. Sachs purchased 20,000 shares of the company's stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average price of $49.75 per share, for a total transaction of $995,000.00. Following the completion of the transaction, the director now directly owns 137,500 shares of the company's stock, valued at $6,840,625. This represents a 17.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Terex

Several institutional investors and hedge funds have recently added to or reduced their stakes in TEX. Chartwell Investment Partners LLC purchased a new stake in Terex during the 3rd quarter valued at about $559,000. Edgestream Partners L.P. lifted its stake in shares of Terex by 181.6% in the second quarter. Edgestream Partners L.P. now owns 68,898 shares of the industrial products company's stock worth $3,778,000 after buying an additional 44,432 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Terex during the third quarter valued at approximately $615,000. AQR Capital Management LLC raised its holdings in Terex by 18.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,837,563 shares of the industrial products company's stock worth $99,045,000 after acquiring an additional 285,750 shares during the last quarter. Finally, Barclays PLC lifted its position in Terex by 40.2% in the 3rd quarter. Barclays PLC now owns 129,250 shares of the industrial products company's stock valued at $6,838,000 after acquiring an additional 37,072 shares in the last quarter. Hedge funds and other institutional investors 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.