Terex (NYSE:TEX) Price Target Cut to $59.00 by Analysts at Evercore ISI

Terex (NYSE:TEX) had its price target dropped by investment analysts at Evercore ISI from $63.00 to $59.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Evercore ISI’s target price indicates a potential upside of 29.47% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Truist Financial reduced their price objective on shares of Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Barclays reduced their price objective on shares of Terex from $60.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Monday, February 10th. JPMorgan Chase & Co. reduced their price objective on shares of Terex from $59.00 to $52.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Citigroup dropped their target price on shares of Terex from $57.00 to $48.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Finally, StockNews.com lowered shares of Terex from a “hold” rating to a “sell” rating in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $56.11.

Terex Stock Performance

NYSE TEX opened at $45.57 on Wednesday. The firm’s fifty day moving average price is $46.39 and its two-hundred day moving average price is $51.02. The stock has a market cap of $3.03 billion, a PE ratio of 9.19, a PEG ratio of 4.73 and a beta of 1.54. Terex has a fifty-two week low of $43.23 and a fifty-two week high of $68.08. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.09 and a current ratio of 2.16.

Terex (NYSE:TEX) last issued its quarterly earnings data on Thursday, February 6th. The industrial products company reported $0.77 earnings per share for the quarter, topping 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 period in the previous year, the business earned $1.88 EPS. On average, equities analysts expect that Terex will post 4.83 EPS for the current fiscal year.

Insider Activity

In related news, Director David A. Sachs acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were purchased at an average price of $51.30 per share, for a total transaction of $513,000.00. Following the completion of the acquisition, the director now owns 107,500 shares of the company’s stock, valued at approximately $5,514,750. This trade represents a 10.26 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Simon Meester sold 9,877 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $51.14, for a total transaction of $505,109.78. Following the transaction, the chief executive officer now owns 127,858 shares in the company, valued at $6,538,658.12. This represents a 7.17 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Terex

Several institutional investors have recently made changes to their positions in TEX. Neo Ivy Capital Management acquired a new stake in shares of Terex in the 4th quarter worth about $29,000. Jones Financial Companies Lllp acquired a new stake in shares of Terex in the 4th quarter worth about $31,000. Smartleaf Asset Management LLC raised its holdings in shares of Terex by 46.1% in the 4th 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 acquired a new stake in shares of Terex in the 3rd quarter worth about $40,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Terex in the 3rd quarter worth about $41,000. 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.