Terex (NYSE:TEX) Given New $47.00 Price Target at Truist Financial

Terex (NYSE:TEX) had its price objective cut by equities research analysts at Truist Financial from $58.00 to $47.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s target price would indicate a potential upside of 41.81% from the stock’s current price.

A number of other research analysts have also issued reports on TEX. UBS Group lowered shares of Terex from a “neutral” rating to a “sell” rating and lowered their target price for the company from $49.00 to $32.00 in a research note on Monday. The Goldman Sachs Group decreased their target price on shares of Terex from $60.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Barclays dropped their price objective on Terex from $60.00 to $52.00 and set an “equal weight” rating for the company in a research note on Monday, February 10th. Evercore ISI decreased their price target on Terex from $63.00 to $59.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Terex from $51.00 to $48.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Terex presently has a consensus rating of “Hold” and an average price target of $49.44.

Terex Trading Up 1.5 %

Shares of Terex stock traded up $0.50 during trading hours on Tuesday, reaching $33.14. The stock had a trading volume of 242,909 shares, compared to its average volume of 886,455. Terex has a 1 year low of $31.61 and a 1 year high of $68.08. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 6.69, a P/E/G ratio of 4.53 and a beta of 1.40. The company has a current ratio of 2.16, a quick ratio of 1.09 and a debt-to-equity ratio of 1.41. The firm has a 50 day simple moving average of $42.00 and a two-hundred day simple moving average of $47.80.

Terex (NYSE:TEX) last posted its quarterly earnings data 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 return on equity of 21.99% and a net margin of 6.54%. During the same quarter in the prior year, the firm posted $1.88 EPS. As a group, equities research analysts anticipate that Terex will post 4.83 earnings per share for the current year.

Insider Buying and Selling at Terex

In other news, Director Andra Rush acquired 1,325 shares of Terex stock in a transaction on Tuesday, March 4th. The stock was acquired at an average cost of $36.96 per share, with a total value of $48,972.00. Following the completion of the acquisition, the director now owns 23,308 shares in the company, valued at approximately $861,463.68. This trade represents a 6.03 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.90% of the company’s stock.

Institutional Trading of Terex

Several institutional investors and hedge funds have recently modified their holdings of TEX. Neo Ivy Capital Management purchased a new stake in shares of Terex during the fourth quarter valued at approximately $29,000. Jones Financial Companies Lllp purchased a new position in shares of Terex during the fourth quarter valued at approximately $31,000. Smartleaf Asset Management LLC grew its stake in shares of Terex by 46.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 704 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 222 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Terex during the third quarter valued at approximately $40,000. Finally, VisionPoint Advisory Group LLC bought a new stake in Terex in the 4th quarter worth about $51,000. Hedge funds and other institutional investors own 92.88% of the company’s stock.

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.