Terex (NYSE:TEX) Rating Increased to Outperform at Robert W. Baird

Terex (NYSE:TEX) was upgraded by Robert W. Baird from a “neutral” rating to an “outperform” rating in a research note issued on Tuesday, Marketbeat.com reports. The firm presently has a $66.00 price target on the industrial products company’s stock, up from their previous price target of $48.00. Robert W. Baird’s target price points to a potential upside of 40.94% from the company’s previous close.

Several other research firms also recently commented on TEX. UBS Group downgraded Terex from a “neutral” rating to a “sell” rating and dropped their target price for the company from $49.00 to $32.00 in a research report on Monday, April 7th. Citigroup dropped their target price on Terex from $45.00 to $36.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. increased their target price on Terex from $38.00 to $43.00 and gave the company a “neutral” rating in a research report on Monday, May 5th. Truist Financial increased their target price on Terex from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Finally, StockNews.com downgraded Terex from a “hold” rating to a “sell” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Terex has a consensus rating of “Hold” and a consensus price target of $47.50.

Terex Price Performance

Terex stock opened at $46.83 on Tuesday. 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 company has a market capitalization of $3.10 billion, a PE ratio of 9.44, a P/E/G ratio of 4.53 and a beta of 1.52. Terex has a 12 month low of $31.53 and a 12 month high of $68.08. The stock has a 50-day moving average price of $37.85 and a two-hundred day moving average price of $44.67.

Terex (NYSE:TEX) last posted its earnings results on Friday, May 2nd. The industrial products company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.57 by $0.26. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.26 billion. Terex had a return on equity of 21.99% and a net margin of 6.54%. The business’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period last year, the company earned $1.60 earnings per share. Analysts expect that Terex will post 4.83 EPS for the current year.

Insiders Place Their Bets

In other Terex news, Director Andra Rush bought 1,325 shares of the stock in a transaction on Tuesday, March 4th. The stock was acquired at an average cost of $36.96 per share, for a total transaction of $48,972.00. Following the completion of the acquisition, the director now owns 23,308 shares in the company, valued at $861,463.68. This trade represents a 6.03% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Joshua Gross sold 5,389 shares of Terex stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $40.75, for a total value of $219,601.75. Following the completion of the sale, the insider now owns 38,755 shares of the company’s stock, valued at approximately $1,579,266.25. The trade was a 12.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Terex

Hedge funds have recently added to or reduced their stakes in the company. Cascade Investment Advisors Inc. acquired a new stake in Terex in the fourth quarter valued at approximately $1,070,000. Norges Bank acquired a new stake in Terex in the fourth quarter valued at approximately $35,001,000. KLP Kapitalforvaltning AS acquired a new stake in Terex in the fourth quarter valued at approximately $610,000. Barclays PLC grew its stake in Terex by 40.2% in the third quarter. Barclays PLC now owns 129,250 shares of the industrial products company’s stock valued at $6,838,000 after acquiring an additional 37,072 shares during the period. Finally, J2 Capital Management Inc acquired a new stake in Terex in the fourth quarter valued at approximately $353,000. Institutional investors and hedge funds 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.