Stock analysts at Truist Financial started coverage on shares of Terex (NYSE:TEX – Get Free Report) in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $73.00 price target on the industrial products company’s stock. Truist Financial’s target price would indicate a potential upside of 23.67% from the company’s current price.
A number of other brokerages have also commented on TEX. Bank of America reissued an “underperform” rating and set a $57.00 price target on shares of Terex in a research note on Friday, January 19th. Jefferies Financial Group lowered Terex from a “buy” rating to a “hold” rating and dropped their price target for the company from $73.00 to $63.00 in a research note on Wednesday, December 20th. Evercore ISI lowered their price objective on Terex from $65.00 to $63.00 and set an “outperform” rating for the company in a research note on Tuesday, February 20th. The Goldman Sachs Group raised their price objective on Terex from $52.00 to $59.00 and gave the company a “neutral” rating in a research note on Tuesday, February 13th. Finally, Citigroup raised their price objective on Terex from $54.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Terex has a consensus rating of “Hold” and a consensus target price of $64.21.
View Our Latest Research Report on TEX
Terex Stock Performance
NYSE TEX opened at $59.03 on Thursday. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of 7.74, a price-to-earnings-growth ratio of 0.58 and a beta of 1.62. The company has a quick ratio of 0.95, a current ratio of 2.01 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average price of $58.10 and a 200-day moving average price of $55.36. Terex has a twelve month low of $41.89 and a twelve month high of $65.64.
Terex (NYSE:TEX – Get Free Report) last released its quarterly earnings data on Friday, February 9th. The industrial products company reported $1.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.41. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.23 billion. Terex had a return on equity of 32.89% and a net margin of 10.06%. The business’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.34 earnings per share. As a group, equities research analysts predict that Terex will post 6.93 EPS for the current fiscal year.
Insiders Place Their Bets
In other Terex news, insider Kieran Hegarty sold 18,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $56.80, for a total transaction of $1,022,400.00. Following the transaction, the insider now directly owns 198,619 shares in the company, valued at approximately $11,281,559.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO John L. Garrison, Jr. sold 45,000 shares of Terex stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $59.00, for a total value of $2,655,000.00. Following the transaction, the chief executive officer now directly owns 492,121 shares in the company, valued at approximately $29,035,139. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kieran Hegarty sold 18,000 shares of Terex stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $56.80, for a total value of $1,022,400.00. Following the completion of the transaction, the insider now owns 198,619 shares in the company, valued at $11,281,559.20. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in TEX. Macquarie Group Ltd. acquired a new stake in shares of Terex in the 1st quarter worth $61,361,000. Norges Bank acquired a new stake in shares of Terex in the 4th quarter worth $42,606,000. Greenhaven Associates Inc. boosted its position in shares of Terex by 101.5% in the 4th quarter. Greenhaven Associates Inc. now owns 1,456,700 shares of the industrial products company’s stock worth $83,702,000 after purchasing an additional 733,690 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of Terex in the 3rd quarter worth $36,672,000. Finally, Renaissance Technologies LLC boosted its position in shares of Terex by 110.8% in the 1st quarter. Renaissance Technologies LLC now owns 833,600 shares of the industrial products company’s stock worth $29,726,000 after purchasing an additional 438,200 shares in the last quarter. 93.39% 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.
Further Reading
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Source: defenseworld.net
