Terex (NYSE:TEX) Price Target Lowered to $52.00 at The Goldman Sachs Group

Terex (NYSE:TEX) had its price target cut by The Goldman Sachs Group from $60.00 to $52.00 in a report released on Wednesday,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

TEX has been the topic of several other research reports. Truist Financial lowered their price objective on shares of Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. JPMorgan Chase & Co. lowered their price target on Terex from $51.00 to $48.00 and set a “neutral” rating on the stock in a research report on Tuesday. Citigroup cut their price objective on Terex from $48.00 to $45.00 and set a “neutral” rating for the company in a report on Monday. Barclays reduced their price objective on Terex from $60.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Monday, February 10th. Finally, StockNews.com downgraded Terex from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $54.22.

Terex Stock Down 0.1 %

TEX opened at $39.60 on Wednesday. The firm has a market capitalization of $2.63 billion, a P/E ratio of 7.98, a price-to-earnings-growth ratio of 4.53 and a beta of 1.56. Terex has a one year low of $36.15 and a one year high of $68.08. The company has a fifty day moving average price of $44.31 and a 200-day moving average price of $49.12. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.16 and a quick ratio of 1.09.

Terex (NYSE:TEX) last released its quarterly earnings results on Thursday, February 6th. The industrial products company reported $0.77 earnings per share 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 in the previous year, the company posted $1.88 EPS. Equities research analysts expect that Terex will post 4.83 earnings per share for the current fiscal year.

Terex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, March 7th were issued a dividend of $0.17 per share. The ex-dividend date was Friday, March 7th. This represents a $0.68 dividend on an annualized basis and a yield of 1.72%. Terex’s dividend payout ratio is currently 13.71%.

Insider Buying and Selling at Terex

In other Terex news, Director Andra Rush purchased 1,325 shares of the stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $36.96 per share, with a total value of $48,972.00. Following the transaction, the director now directly owns 23,308 shares of the company’s stock, valued at approximately $861,463.68. This trade represents a 6.03 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Terex

Several hedge funds have recently made changes to their positions in TEX. Advisors Asset Management Inc. increased its position 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 valued at $3,019,000 after purchasing an additional 4,633 shares during the period. Moran Wealth Management LLC boosted its stake in shares of Terex by 2.7% during the 3rd quarter. Moran Wealth Management LLC now owns 45,339 shares of the industrial products company’s stock valued at $2,399,000 after purchasing an additional 1,209 shares in the last quarter. Intech Investment Management LLC increased its position in shares of Terex by 487.9% during the third 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 position in Terex in the third quarter worth about $457,000. Finally, Foundry Partners LLC purchased a new stake in Terex in the third quarter worth about $3,881,000. 92.88% of the stock is owned by hedge funds and other institutional investors.

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.