Terex (NYSE:TEX) Price Target Cut to $62.00

Terex (NYSE:TEX - Free Report) had its target price decreased by Truist Financial from $63.00 to $62.00 in a research note issued to investors on Wednesday, Benzinga reports. Truist Financial currently has a buy rating on the industrial products company's stock.

TEX has been the subject of several other reports. JPMorgan Chase & Co. lifted their target price 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. Robert W. Baird raised their price objective on Terex from $58.00 to $67.00 and gave the stock a neutral rating in a report on Monday, July 22nd. Jefferies Financial Group dropped their target price on Terex from $68.00 to $55.00 and set a hold rating for the company in a research note on Thursday, July 11th. Citigroup lowered their price target on Terex from $60.00 to $57.00 and set a neutral rating for the company in a report on Monday, September 23rd. Finally, The Goldman Sachs Group lowered their price target on Terex from $72.00 to $62.00 and set a neutral rating for the company in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $60.60.

Terex Price Performance

Shares of TEX traded up $0.50 during mid-day trading on Wednesday, reaching $53.51. 825,836 shares of the company's stock were exchanged, compared to its average volume of 832,309. Terex has a 52-week low of $43.70 and a 52-week high of $68.08. 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 company has a 50-day simple moving average of $53.57 and a two-hundred day simple moving average of $57.24. The company has a market cap of $3.58 billion, a price-to-earnings ratio of 7.12, a PEG ratio of 4.29 and a beta of 1.53.

Terex (NYSE:TEX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.10. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.43 billion. Terex had a return on equity of 27.89% and a net margin of 9.55%. The business's revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.35 earnings per share. On average, sell-side analysts predict that Terex will post 5.88 EPS for the current fiscal year.

Terex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, August 9th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.68 annualized dividend and a yield of 1.27%. Terex's dividend payout ratio is currently 9.01%.

Insider Transactions at Terex

In other Terex news, Director Andra Rush bought 2,205 shares of Terex stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average price of $54.36 per share, for a total transaction of $119,863.80. Following the acquisition, the director now owns 21,983 shares of the company's stock, valued at $1,194,995.88. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On Terex

A number of institutional investors and hedge funds have recently bought and sold shares of TEX. Blue Trust Inc. lifted its position in shares of Terex by 57.5% during the second quarter. Blue Trust Inc. now owns 512 shares of the industrial products company's stock worth $28,000 after purchasing an additional 187 shares in the last quarter. FinTrust Capital Advisors LLC lifted its holdings in Terex by 202.2% in the 1st quarter. FinTrust Capital Advisors LLC now owns 695 shares of the industrial products company's stock worth $45,000 after buying an additional 465 shares in the last quarter. GAMMA Investing LLC boosted its position in Terex by 83.3% in the 3rd quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company's stock valued at $39,000 after buying an additional 335 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Terex during the second quarter valued at about $109,000. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of Terex during the second quarter worth about $111,000. Hedge funds and other institutional investors own 92.88% of the company's stock.

About Terex

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.