Truist Financial Issues Positive Forecast for Terex (NYSE:TEX) Stock Price

Terex (NYSE:TEX) had its price objective increased by research analysts at Truist Financial from $47.00 to $50.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price objective would suggest a potential upside of 22.52% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the stock. Morgan Stanley dropped their target price 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. The Goldman Sachs Group decreased their price objective on Terex from $60.00 to $52.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. JPMorgan Chase & Co. boosted their price objective on shares of Terex from $38.00 to $43.00 and gave the company a “neutral” rating in a research note on Monday. Evercore ISI decreased their price objective on shares of Terex from $63.00 to $59.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Finally, Citigroup lowered their price target on shares of Terex from $45.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $46.40.

Terex Stock Performance

TEX stock traded up $0.98 during trading on Monday, hitting $40.81. The company had a trading volume of 387,913 shares, compared to its average volume of 893,753. The firm has a 50-day moving average price of $37.48 and a 200-day moving average price of $45.18. Terex has a 1-year low of $31.53 and a 1-year high of $68.08. The firm has a market cap of $2.70 billion, a PE ratio of 8.23, a price-to-earnings-growth ratio of 4.53 and a beta of 1.52. 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 posted its quarterly earnings data on Friday, May 2nd. The industrial products company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.26. Terex had a net margin of 6.54% and a return on equity of 21.99%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the firm posted $1.60 EPS. Terex’s quarterly revenue was down 4.9% on a year-over-year basis. On average, analysts expect that Terex will post 4.83 earnings per share for the current year.

Insider Activity at Terex

In related news, Director Andra Rush bought 1,325 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $36.96 per share, for a total transaction of $48,972.00. Following the acquisition, the director now directly owns 23,308 shares of the company’s stock, valued at $861,463.68. The trade was a 6.03 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Terex

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Foundry Partners LLC boosted its holdings in shares of Terex by 0.5% in the first quarter. Foundry Partners LLC now owns 99,445 shares of the industrial products company’s stock worth $3,757,000 after buying an additional 536 shares during the period. Easterly Investment Partners LLC grew its position in Terex by 42.2% during the 1st quarter. Easterly Investment Partners LLC now owns 33,686 shares of the industrial products company’s stock worth $1,273,000 after purchasing an additional 10,000 shares in the last quarter. Victory Capital Management Inc. raised its stake in Terex by 14.0% during the 1st quarter. Victory Capital Management Inc. now owns 848,839 shares of the industrial products company’s stock valued at $32,069,000 after purchasing an additional 104,554 shares during the period. Signaturefd LLC lifted its holdings in shares of Terex by 88.8% in the first quarter. Signaturefd LLC now owns 2,173 shares of the industrial products company’s stock valued at $82,000 after purchasing an additional 1,022 shares in the last quarter. Finally, CWM LLC boosted its position in shares of Terex by 1.5% in the first quarter. CWM LLC now owns 76,208 shares of the industrial products company’s stock worth $2,879,000 after buying an additional 1,102 shares during the period. 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.