Analysts Set Terex Co. (NYSE:TEX) Price Target at $59.56

Terex Co. (NYSE:TEX) has received an average recommendation of “Hold” from the ten ratings firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $59.56.

A number of analysts have recently commented on the company. JPMorgan Chase & Co. dropped their price target on Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Truist Financial increased their price objective on shares of Terex from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, November 4th. The Goldman Sachs Group dropped their target price on shares of Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Robert W. Baird reduced their price target on shares of Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Finally, Evercore ISI lowered their price objective on Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TEX. Geode Capital Management LLC lifted its stake in shares of Terex by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,596,070 shares of the industrial products company’s stock worth $84,463,000 after purchasing an additional 8,624 shares during the period. Vestcor Inc bought a new position in Terex in the third quarter worth approximately $497,000. Barclays PLC boosted its stake in shares of Terex by 40.2% during the 3rd quarter. Barclays PLC now owns 129,250 shares of the industrial products company’s stock worth $6,838,000 after acquiring an additional 37,072 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Terex during the 3rd quarter valued at $1,281,000. Finally, Orion Portfolio Solutions LLC purchased a new stake in shares of Terex in the 3rd quarter worth $217,000. Institutional investors own 92.88% of the company’s stock.

Terex Price Performance

Shares of TEX stock opened at $51.98 on Tuesday. The business’s fifty day moving average is $53.23 and its 200 day moving average is $55.64. The company has a quick ratio of 1.16, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 7.59, a PEG ratio of 4.17 and a beta of 1.53. Terex has a twelve month low of $48.11 and a twelve month high of $68.08.

Terex (NYSE:TEX) last released its earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.15. Terex had a net margin of 9.08% and a return on equity of 24.92%. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the firm earned $1.75 EPS. The company’s revenue was down 6.0% compared to the same quarter last year. Research analysts expect that Terex will post 6.07 EPS for the current fiscal year.

Terex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 8th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.31%. Terex’s dividend payout ratio (DPR) is currently 9.93%.

Terex Company Profile

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.