Terex (NYSE:TEX) Hits New 12-Month Low After Analyst Downgrade

Terex Co. (NYSE:TEX - Get Free Report)'s stock price reached a new 52-week low on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $48.00 to $38.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Terex traded as low as $31.53 and last traded at $32.30, with a volume of 9274 shares. The stock had previously closed at $32.21.

Several other equities analysts have also issued reports on the stock. Truist Financial cut their price objective on shares of Terex from $58.00 to $47.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Barclays reduced their price target on Terex from $60.00 to $52.00 and set an "equal weight" rating for the company in a research report on Monday, February 10th. Evercore ISI dropped their price objective on Terex from $63.00 to $59.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 19th. The Goldman Sachs Group reduced their target price on shares of Terex from $60.00 to $52.00 and set a "neutral" rating for the company in a report on Wednesday, March 19th. Finally, UBS Group cut shares of Terex from a "neutral" rating to a "sell" rating and lowered their price target for the company from $49.00 to $32.00 in a report on Monday, April 7th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Terex presently has an average rating of "Hold" and a consensus target price of $47.33.

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Insiders Place Their Bets

In other news, Director Andra Rush acquired 1,325 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $36.96 per share, with a total value of $48,972.00. Following the completion of the acquisition, the director now owns 23,308 shares of the company's stock, valued at approximately $861,463.68. This trade represents a 6.03 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Terex

Institutional investors and hedge funds have recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its stake in Terex by 46.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 704 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 222 shares during the period. Envestnet Asset Management Inc. lifted its position in Terex by 0.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 36,671 shares of the industrial products company's stock valued at $1,695,000 after purchasing an additional 237 shares during the period. Blue Trust Inc. boosted its holdings in Terex by 26.8% in the fourth quarter. Blue Trust Inc. now owns 1,229 shares of the industrial products company's stock valued at $57,000 after purchasing an additional 260 shares during the last quarter. Barnett & Company Inc. grew its position in Terex by 4.3% during the 4th quarter. Barnett & Company Inc. now owns 7,300 shares of the industrial products company's stock worth $337,000 after purchasing an additional 300 shares during the period. Finally, New York State Teachers Retirement System raised its stake in shares of Terex by 0.4% during the 4th quarter. New York State Teachers Retirement System now owns 83,035 shares of the industrial products company's stock valued at $3,838,000 after buying an additional 320 shares during the last quarter. Institutional investors and hedge funds own 92.88% of the company's stock.

Terex Trading Up 0.3 %

The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 7.07, a PEG ratio of 4.53 and a beta of 1.40. The company has a fifty day moving average price of $40.44 and a 200-day moving average price of $47.08. The company has a current ratio of 2.16, a quick ratio of 1.09 and a debt-to-equity ratio of 1.41.

Terex (NYSE:TEX - Get Free Report) last released its quarterly earnings data 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 period last year, the firm posted $1.88 EPS. As a group, research analysts expect that Terex Co. will post 4.83 EPS for the current year.

Terex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, March 7th were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.68 annualized dividend and a dividend yield of 1.94%. Terex's dividend payout ratio is presently 13.71%.

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.