Terex (NYSE:TEX) Price Target Cut to $58.00 by Analysts at Truist Financial

Terex (NYSE:TEX - Get Free Report) had its price objective decreased by analysts at Truist Financial from $65.00 to $58.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the industrial products company's stock. Truist Financial's price objective indicates a potential upside of 28.32% from the stock's previous close.

Several other research firms have also recently issued reports on TEX. Robert W. Baird lowered their target price on shares of Terex from $65.00 to $55.00 and set a "neutral" rating on the stock in a research note on Thursday, October 31st. JPMorgan Chase & Co. lowered their price objective on Terex from $65.00 to $62.00 and set a "neutral" rating on the stock in a research report on Monday, October 14th. Citigroup reduced their target price on Terex from $60.00 to $57.00 and set a "neutral" rating for the company in a research 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 on the stock in a report on Friday, September 20th. One analyst has 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 MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $58.78.

Terex Stock Performance

Shares of Terex stock traded down $0.58 during trading hours on Thursday, reaching $45.20. The company had a trading volume of 840,546 shares, compared to its average volume of 807,568. The firm has a market cap of $3.02 billion, a PE ratio of 6.60, a price-to-earnings-growth ratio of 4.00 and a beta of 1.53. Terex has a one year low of $44.92 and a one year high of $68.08. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.16. The business has a fifty day simple moving average of $53.10 and a 200 day simple moving average of $54.28.

Terex (NYSE:TEX - Get Free Report) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $1.46 EPS for the quarter, topping 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 the consensus estimate of $1.16 billion. During the same quarter last year, the company earned $1.75 EPS. The firm's revenue was down 6.0% compared to the same quarter last year. On average, analysts anticipate that Terex will post 6.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Simon Meester sold 9,877 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now owns 127,858 shares of the company's stock, valued at approximately $6,538,658.12. The trade was a 7.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David A. Sachs bought 10,000 shares of the company's stock in a transaction that occurred on Wednesday, December 11th. The shares were bought at an average price of $51.30 per share, with a total value of $513,000.00. Following the completion of the acquisition, the director now directly owns 107,500 shares in the company, valued at $5,514,750. This trade represents a 10.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TEX. Greenwich Wealth Management LLC grew its holdings in Terex by 0.3% in the 3rd quarter. Greenwich Wealth Management LLC now owns 62,371 shares of the industrial products company's stock worth $3,300,000 after acquiring an additional 181 shares during the last quarter. Dorsey Wright & Associates grew its stake in shares of Terex by 0.3% in the second quarter. Dorsey Wright & Associates now owns 61,309 shares of the industrial products company's stock worth $3,362,000 after purchasing an additional 186 shares during the last quarter. Blue Trust Inc. increased its holdings in Terex by 57.5% during the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 187 shares during the period. US Bancorp DE raised its position in Terex by 4.0% during the 3rd quarter. US Bancorp DE now owns 5,837 shares of the industrial products company's stock valued at $309,000 after purchasing an additional 227 shares during the last quarter. Finally, Lingohr Asset Management GmbH lifted its holdings in Terex by 2.0% in the 3rd quarter. Lingohr Asset Management GmbH now owns 11,516 shares of the industrial products company's stock worth $607,000 after buying an additional 230 shares during the period. 92.88% of the stock is owned by hedge funds and other institutional investors.

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.