Truist Financial Cuts Terex (NYSE:TEX) Price Target to $68.00

Terex (NYSE:TEXFree Report) had its target price cut by Truist Financial from $73.00 to $68.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Several other research firms have also recently weighed in on TEX. Raymond James started coverage on shares of Terex in a research report on Friday, June 28th. They set a market perform rating on the stock. JPMorgan Chase & Co. cut Terex from an overweight rating to a neutral rating and set a $63.00 price objective for the company. in a report on Monday, March 18th. UBS Group raised their price objective on Terex from $62.00 to $64.00 and gave the company a neutral rating in a report on Tuesday, May 21st. Finally, Citigroup initiated coverage on Terex in a research note on Wednesday, June 26th. They issued a neutral rating and a $60.00 target price for the company. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and an average target price of $64.67.

Get Our Latest Stock Analysis on TEX

Terex Price Performance

NYSE:TEX opened at $54.20 on Tuesday. Terex has a 52-week low of $43.70 and a 52-week high of $65.89. The stock has a fifty day moving average of $57.51 and a 200 day moving average of $58.75. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.06 and a current ratio of 2.16. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of 7.18 and a beta of 1.57.

Terex (NYSE:TEXGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.37 by $0.23. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.23 billion. Terex had a return on equity of 30.53% and a net margin of 9.87%. On average, research analysts expect that Terex will post 7.11 EPS for the current fiscal year.

Terex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were given a dividend of $0.17 per share. The ex-dividend date was Thursday, June 6th. This represents a $0.68 annualized dividend and a yield of 1.25%. Terex’s payout ratio is currently 9.01%.

Insider Buying and Selling at Terex

In other news, VP Scott Posner sold 12,500 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $60.48, for a total transaction of $756,000.00. Following the completion of the transaction, the vice president now directly owns 58,224 shares of the company’s stock, valued at $3,521,387.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Scott Posner sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $60.48, for a total transaction of $756,000.00. Following the transaction, the vice president now directly owns 58,224 shares of the company’s stock, valued at $3,521,387.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Stephen Johnston sold 3,239 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $62.00, for a total value of $200,818.00. Following the completion of the sale, the chief accounting officer now directly owns 14,606 shares of the company’s stock, valued at approximately $905,572. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,929 shares of company stock worth $1,958,307. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Terex

A number of large investors have recently modified their holdings of TEX. Blue Trust Inc. lifted its holdings in Terex by 179.0% in the fourth quarter. Blue Trust Inc. now owns 466 shares of the industrial products company’s stock worth $27,000 after buying an additional 299 shares during the period. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Terex in the 4th quarter valued at approximately $29,000. FinTrust Capital Advisors LLC boosted its position in shares of Terex by 202.2% during the first quarter. FinTrust Capital Advisors LLC now owns 695 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 465 shares in the last quarter. OLD Point Trust & Financial Services N A purchased a new stake in Terex in the fourth quarter worth $61,000. Finally, Principal Securities Inc. bought a new position in Terex in the fourth quarter worth $85,000. Institutional investors own 92.88% of the company’s stock.

About Terex

(Get Free Report)

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

Analyst Recommendations for Terex (NYSE:TEX)

Receive News & Ratings for Terex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Terex and related companies with MarketBeat.com's FREE daily email newsletter.