Terex (NYSE:TEX) Sets New 52-Week Low on Analyst Downgrade

Terex Co. (NYSE:TEX) hit a new 52-week low during trading on Wednesday after Citigroup lowered their price target on the stock from $45.00 to $36.00. Citigroup currently has a neutral rating on the stock. Terex traded as low as $31.53 and last traded at $32.30, with a volume of 9274 shares. The stock had previously closed at $32.21.

Other analysts have also recently issued reports about the stock. Evercore ISI lowered 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. UBS Group downgraded Terex from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $49.00 to $32.00 in a research report on Monday. Truist Financial reduced their target price on Terex from $58.00 to $47.00 and set a “buy” rating on the stock in a research report on Tuesday. StockNews.com cut Terex from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Terex from $51.00 to $48.00 and set a “neutral” rating on the stock in a report on Tuesday, March 18th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Terex presently has a consensus rating of “Hold” and an average target price of $48.44.

Insiders Place Their Bets

In other Terex news, Director Andra Rush purchased 1,325 shares of Terex stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of $36.96 per share, with a total value of $48,972.00. Following the completion of the transaction, the director now directly owns 23,308 shares in the company, valued at approximately $861,463.68. This represents a 6.03 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Terex

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cascade Investment Advisors Inc. purchased a new position in Terex in the fourth quarter valued at about $1,070,000. Norges Bank acquired a new stake in shares of Terex in the fourth quarter valued at about $35,001,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Terex during the 4th quarter valued at about $610,000. Barclays PLC lifted its position in 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 in the last quarter. Finally, J2 Capital Management Inc purchased a new position in Terex in the 4th quarter worth approximately $353,000. Institutional investors and hedge funds own 92.88% of the company’s stock.

Terex Price Performance

The company’s 50-day simple moving average is $40.69 and its 200-day simple moving average is $47.23. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.16 and a quick ratio of 1.09. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 6.88, a P/E/G ratio of 4.53 and a beta of 1.40.

Terex (NYSE:TEX) last released its quarterly earnings results on Thursday, February 6th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.01. Terex had a net margin of 6.54% and a return on equity of 21.99%. During the same quarter in the prior year, the business posted $1.88 EPS. On average, equities research analysts anticipate that Terex Co. will post 4.83 EPS for the current year.

Terex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, March 7th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Friday, March 7th. Terex’s dividend payout ratio is currently 13.71%.

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.