JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Terex (NYSE:TEX) Stock

Terex (NYSE:TEX) had its target price raised by equities research analysts at JPMorgan Chase & Co. from $43.00 to $50.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 3.42% from the stock’s current price.

Several other research firms have also recently commented on TEX. Truist Financial boosted their price target on Terex from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Robert W. Baird raised shares of Terex from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $48.00 to $66.00 in a research report on Tuesday, May 13th. Barclays cut their price target on shares of Terex from $60.00 to $52.00 and set an “equal weight” rating on the stock in a report on Monday, February 10th. Citigroup dropped their target price on shares of Terex from $45.00 to $36.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Finally, The Goldman Sachs Group upgraded shares of Terex from a “neutral” rating to a “buy” rating and upped their target price for the company from $45.00 to $60.00 in a research note on Tuesday, May 27th. Eight analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $50.90.

Terex Stock Up 0.8%

Shares of NYSE:TEX opened at $48.35 on Tuesday. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 9.75, a price-to-earnings-growth ratio of 4.53 and a beta of 1.60. The company has a 50 day moving average of $40.75 and a two-hundred day moving average of $43.72. Terex has a 52-week low of $31.53 and a 52-week high of $68.08. The company has a quick ratio of 1.09, a current ratio of 2.16 and a debt-to-equity ratio of 1.41.

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

Insider Activity

In related news, insider Joshua Gross sold 5,389 shares of the company’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $40.75, for a total transaction of $219,601.75. Following the completion of the transaction, the insider now directly owns 38,755 shares in the company, valued at $1,579,266.25. This represents a 12.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Terex

Several large investors have recently added to or reduced their stakes in TEX. Wealth Enhancement Advisory Services LLC acquired a new stake in Terex in the fourth quarter worth $59,179,000. FMR LLC increased its position in Terex by 17.0% in the fourth quarter. FMR LLC now owns 8,782,287 shares of the industrial products company’s stock worth $405,917,000 after buying an additional 1,272,920 shares during the period. Fuller & Thaler Asset Management Inc. increased its position in Terex by 94.8% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,150,673 shares of the industrial products company’s stock worth $99,404,000 after buying an additional 1,046,600 shares during the period. Norges Bank acquired a new stake in Terex in the fourth quarter worth $35,001,000. Finally, First Trust Advisors LP increased its position in Terex by 43.2% in the fourth quarter. First Trust Advisors LP now owns 1,930,923 shares of the industrial products company’s stock worth $89,247,000 after buying an additional 582,819 shares during the period. 92.88% of the stock is owned by institutional investors and hedge funds.

Terex Company Profile

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.