Terex (NYSE:TEX) Price Target Raised to $50.00 at Truist Financial

Terex (NYSE:TEX) had its target price increased by Truist Financial from $47.00 to $50.00 in a research report released on Monday morning,Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

A number of other brokerages have also recently commented on TEX. Evercore ISI dropped their price target on Terex from $63.00 to $59.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Barclays dropped their price objective on shares of Terex from $60.00 to $52.00 and set an “equal weight” rating on the stock in a report on Monday, February 10th. Morgan Stanley reduced their target price on shares of Terex from $43.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. upped their price target on shares of Terex from $38.00 to $43.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Citigroup reduced their price objective on shares of Terex from $45.00 to $36.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $46.40.

Terex Price Performance

TEX opened at $40.49 on Monday. Terex has a fifty-two week low of $31.53 and a fifty-two week high of $68.08. The firm has a 50-day moving average of $37.44 and a 200 day moving average of $45.07. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.09 and a current ratio of 2.16. The firm has a market cap of $2.68 billion, a P/E ratio of 8.16, a PEG ratio of 4.53 and a beta of 1.52.

Terex (NYSE:TEX) last released its earnings results on Friday, May 2nd. The industrial products company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.26. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.26 billion. Terex had a net margin of 6.54% and a return on equity of 21.99%. The company’s revenue was down 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.60 EPS. On average, research analysts expect that Terex will post 4.83 EPS for the current year.

Terex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, March 7th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Friday, March 7th. Terex’s dividend payout ratio is 18.53%.

Insiders Place Their Bets

In related news, Director Andra Rush purchased 1,325 shares of the firm’s stock in a transaction dated 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 acquisition, the director now directly owns 23,308 shares of the company’s stock, valued at approximately $861,463.68. This represents a 6.03 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Neo Ivy Capital Management purchased a new position in shares of Terex in the 4th quarter worth about $29,000. Jones Financial Companies Lllp bought a new stake in Terex in the 4th quarter worth approximately $31,000. Smartleaf Asset Management LLC lifted its position in Terex by 46.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 704 shares of the industrial products company’s stock worth $32,000 after buying an additional 222 shares during the last quarter. UMB Bank n.a. boosted its stake in Terex by 83.0% in the first quarter. UMB Bank n.a. now owns 732 shares of the industrial products company’s stock worth $28,000 after buying an additional 332 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in Terex during the third quarter valued at approximately $40,000. 92.88% of the stock is currently 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.