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

Robert W. Baird upgraded shares of Terex (NYSE:TEX) from a neutral rating to an outperform rating in a report published on Tuesday, MarketBeat Ratings reports. They currently have $66.00 price target on the industrial products company’s stock, up from their prior price target of $48.00.

A number of other research firms have also recently commented on TEX. Citigroup decreased 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. Morgan Stanley cut their price objective on shares of Terex from $43.00 to $30.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. StockNews.com cut shares of Terex from a “hold” rating to a “sell” rating in a research note on Tuesday. Truist Financial boosted their price target on shares of Terex from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Finally, Barclays lowered their price target on shares of Terex from $60.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $47.50.

Terex Stock Performance

Shares of NYSE:TEX opened at $46.92 on Tuesday. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 9.46, a PEG 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 firm’s 50-day moving average is $37.98 and its 200 day moving average is $44.61. The company has a current ratio of 2.16, a quick ratio of 1.09 and a debt-to-equity ratio of 1.41.

Terex (NYSE:TEX) last released its quarterly earnings data on Friday, May 2nd. The industrial products company reported $0.83 earnings per share (EPS) 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 company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the company earned $1.60 EPS. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. Research analysts predict that Terex will post 4.83 EPS for the current year.

Terex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.68 annualized dividend and a yield of 1.45%. Terex’s dividend payout ratio is currently 18.53%.

Insiders Place Their Bets

In other news, insider Joshua Gross sold 5,389 shares of the business’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $40.75, for a total transaction of $219,601.75. Following the transaction, the insider now directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Andra Rush purchased 1,325 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was bought 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 directly owns 23,308 shares of the company’s stock, valued at $861,463.68. This represents a 6.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.90% of the stock is owned by insiders.

Institutional Trading of Terex

A number of large investors have recently modified their holdings of the company. Magnetar Financial LLC boosted its stake in Terex by 77.4% during the 1st quarter. Magnetar Financial LLC now owns 26,498 shares of the industrial products company’s stock valued at $1,001,000 after purchasing an additional 11,563 shares in the last quarter. State of Wyoming boosted its stake in Terex by 65.6% during the 1st quarter. State of Wyoming now owns 5,039 shares of the industrial products company’s stock valued at $190,000 after purchasing an additional 1,997 shares in the last quarter. Tema Etfs LLC boosted its stake in Terex by 235.5% during the 1st quarter. Tema Etfs LLC now owns 206,485 shares of the industrial products company’s stock valued at $7,801,000 after purchasing an additional 144,941 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Terex during the 1st quarter valued at $4,074,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Terex during the 1st quarter valued at $217,000. 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.