Terex (NYSE:TEX) Stock Price Down 3.1% After Analyst Downgrade

Terex Co. (NYSE:TEX) fell 3.1% on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $51.00 to $48.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Terex traded as low as $39.65 and last traded at $39.05. 53,976 shares were traded during trading, a decline of 93% from the average session volume of 822,304 shares. The stock had previously closed at $40.31.

A number of other equities research analysts have also recently commented on the company. Citigroup dropped their target price on Terex from $48.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday. Evercore ISI dropped their target price on Terex from $63.00 to $59.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Barclays dropped their target price 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. StockNews.com cut Terex from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Finally, Truist Financial dropped their target price on Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Terex has an average rating of “Hold” and a consensus target price of $55.33.

Insider Buying and Selling

In related news, Director Andra Rush bought 1,325 shares of the stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $36.96 per share, for a total transaction of $48,972.00. Following the acquisition, the director now directly owns 23,308 shares in the company, valued at approximately $861,463.68. This trade represents a 6.03 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Neo Ivy Capital Management acquired a new position in shares of Terex during the 4th quarter worth approximately $29,000. Jones Financial Companies Lllp acquired a new position in shares of Terex during the 4th quarter worth approximately $31,000. Smartleaf Asset Management LLC raised its position in shares of Terex by 46.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 704 shares of the industrial products company’s stock valued at $32,000 after buying an additional 222 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Terex during the 3rd quarter valued at approximately $40,000. Finally, Truvestments Capital LLC purchased a new stake in shares of Terex during the 3rd quarter valued at approximately $41,000. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Terex Trading Up 0.1 %

The stock has a market cap of $2.63 billion, a PE ratio of 8.00, a price-to-earnings-growth ratio of 4.53 and a beta of 1.56. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.09 and a current ratio of 2.16. The company’s 50-day moving average price is $44.41 and its 200 day moving average price is $49.18.

Terex (NYSE:TEX) last released its quarterly earnings results on Thursday, February 6th. The industrial products company reported $0.77 EPS for the quarter, beating 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 last year, the firm posted $1.88 EPS. On average, sell-side analysts forecast that Terex Co. will post 4.83 EPS for the current fiscal year.

Terex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Friday, March 7th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Friday, March 7th. Terex’s payout ratio is presently 13.71%.

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.