Terex (NYSE:TEX) Shares Down 3.1% After Analyst Downgrade

Terex Co. (NYSE:TEX - Get Free Report)'s share price was down 3.1% during mid-day trading on Monday after The Goldman Sachs Group lowered their price target on the stock from $60.00 to $52.00. The Goldman Sachs Group currently has a neutral rating on the stock. Terex traded as low as $39.65 and last traded at $39.05. Approximately 53,976 shares changed hands during trading, a decline of 93% from the average daily volume of 822,304 shares. The stock had previously closed at $40.31.

Other research analysts have also recently issued research reports about the stock. Evercore ISI cut their target price on shares of Terex from $63.00 to $59.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. StockNews.com downgraded Terex from a "hold" rating to a "sell" rating in a research report on Friday, February 7th. Barclays decreased their target price on Terex from $60.00 to $52.00 and set an "equal weight" rating on the stock in a report on Monday, February 10th. JPMorgan Chase & Co. reduced their price target on shares of Terex from $51.00 to $48.00 and set a "neutral" rating on the stock in a research report on Tuesday. Finally, Citigroup lowered their price objective on shares of Terex from $48.00 to $45.00 and set a "neutral" rating for the company in a research report on Monday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $54.22.

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Insider Buying and Selling at Terex

In related news, Director Andra Rush bought 1,325 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $36.96 per share, with a total value of $48,972.00. Following the completion of the purchase, the director now owns 23,308 shares of the company's stock, valued at $861,463.68. This represents a 6.03 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On Terex

Institutional investors have recently modified their holdings of the stock. Advisors Asset Management Inc. boosted its stake in Terex by 8.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 57,056 shares of the industrial products company's stock worth $3,019,000 after acquiring an additional 4,633 shares during the last quarter. Moran Wealth Management LLC boosted its position in shares of Terex by 2.7% during the third quarter. Moran Wealth Management LLC now owns 45,339 shares of the industrial products company's stock worth $2,399,000 after purchasing an additional 1,209 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of Terex by 487.9% in the 3rd quarter. Intech Investment Management LLC now owns 28,037 shares of the industrial products company's stock valued at $1,483,000 after buying an additional 23,268 shares during the period. Landscape Capital Management L.L.C. bought a new stake in shares of Terex in the 3rd quarter valued at $457,000. Finally, Foundry Partners LLC acquired a new stake in Terex during the 3rd quarter worth $3,881,000. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Terex Trading Up 0.1 %

The company has a fifty day simple moving average of $44.19 and a two-hundred day simple moving average of $49.05. The stock has a market capitalization of $2.60 billion, a P/E ratio of 7.88, a price-to-earnings-growth ratio of 4.53 and a beta of 1.56. The company has a quick ratio of 1.09, a current ratio of 2.16 and a debt-to-equity ratio of 1.41.

Terex (NYSE:TEX - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, beating 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 earnings per share. On average, sell-side analysts expect that Terex Co. will post 4.83 earnings per share for the current year.

Terex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, March 7th were given a $0.17 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.68 annualized dividend and a yield of 1.74%. Terex's dividend payout ratio is currently 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.