JPMorgan Chase & Co. Issues Pessimistic Forecast for Terex (NYSE:TEX) Stock Price

Terex (NYSE:TEX - Free Report) had its price target trimmed by JPMorgan Chase & Co. from $59.00 to $52.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the industrial products company's stock.

TEX has been the topic of several other research reports. Citigroup cut their price target on Terex from $60.00 to $57.00 and set a "neutral" rating on the stock in a report on Monday, September 23rd. The Goldman Sachs Group decreased their price objective on Terex from $72.00 to $62.00 and set a "neutral" rating on the stock in a report on Friday, September 20th. Truist Financial cut their price objective on Terex from $65.00 to $58.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Finally, Robert W. Baird cut their target price on shares of Terex from $65.00 to $55.00 and set a "neutral" rating for the company in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $56.67.

Terex Stock Up 2.0 %

NYSE TEX traded up $0.92 during trading on Tuesday, hitting $45.81. 761,763 shares of the company traded hands, compared to its average volume of 668,620. The company has a market capitalization of $3.06 billion, a P/E ratio of 6.69, a PEG ratio of 4.00 and a beta of 1.55. Terex has a 12 month low of $43.50 and a 12 month high of $68.08. The company has a current ratio of 2.39, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32. The business has a fifty day simple moving average of $50.12 and a 200 day simple moving average of $53.13.

Terex (NYSE:TEX - Get Free Report) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.31 by $0.15. Terex had a net margin of 9.08% and a return on equity of 24.92%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the business earned $1.75 earnings per share. Terex's quarterly revenue was down 6.0% on a year-over-year basis. As a group, sell-side analysts predict that Terex will post 6.07 EPS for the current year.

Insider Activity at Terex

In related news, Director David A. Sachs acquired 20,000 shares of the business's stock in a transaction dated 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 acquisition, the director now directly owns 137,500 shares in the company, valued at $6,840,625. The trade was a 17.02 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Simon Meester sold 9,877 shares of the business'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 transaction, the chief executive officer now owns 127,858 shares of the company's stock, valued at $6,538,658.12. This represents a 7.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Terex

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Greenwich Wealth Management LLC increased its position in shares of Terex by 0.3% during the third quarter. Greenwich Wealth Management LLC now owns 62,371 shares of the industrial products company's stock worth $3,300,000 after purchasing an additional 181 shares in the last quarter. Dorsey Wright & Associates increased its position in Terex by 0.3% during the second quarter. Dorsey Wright & Associates now owns 61,309 shares of the industrial products company's stock worth $3,362,000 after buying an additional 186 shares in the last quarter. US Bancorp DE raised its holdings in Terex by 4.0% in the 3rd quarter. US Bancorp DE now owns 5,837 shares of the industrial products company's stock valued at $309,000 after acquiring an additional 227 shares during the last quarter. Lingohr Asset Management GmbH lifted its holdings in shares of Terex by 2.0% during the 3rd quarter. Lingohr Asset Management GmbH now owns 11,516 shares of the industrial products company's stock worth $607,000 after acquiring an additional 230 shares during the period. Finally, Verdence Capital Advisors LLC boosted its holdings in Terex by 4.4% in the third quarter. Verdence Capital Advisors LLC now owns 5,575 shares of the industrial products company's stock valued at $295,000 after acquiring an additional 233 shares during 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.