Citigroup Cuts Terex (NYSE:TEX) Price Target to $52.00

Terex (NYSE:TEX) had its price objective reduced by Citigroup from $58.00 to $52.00 in a report published on Monday morning,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

TEX has been the subject of several other reports. Raymond James Financial raised shares of Terex from a “market perform” rating to an “outperform” rating and set a $70.00 price target for the company in a report on Monday, October 27th. UBS Group lifted their price target on shares of Terex from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, July 10th. Truist Financial set a $62.00 price target on shares of Terex in a report on Monday, August 4th. Wall Street Zen upgraded shares of Terex from a “hold” rating to a “buy” rating in a research report on Sunday, October 19th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Terex in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Terex currently has an average rating of “Moderate Buy” and an average price target of $57.30.

Terex Trading Down 0.1%

NYSE TEX opened at $46.94 on Monday. Terex has a one year low of $31.53 and a one year high of $58.66. The company has a 50-day simple moving average of $52.30 and a 200-day simple moving average of $48.65. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.11 and a current ratio of 2.08. The firm has a market capitalization of $3.08 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 5.69 and a beta of 1.66.

Terex (NYSE:TEX) last posted its quarterly earnings results on Thursday, October 30th. The industrial products company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.22 by $0.28. Terex had a net margin of 3.46% and a return on equity of 15.95%. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period in the previous year, the business posted $1.46 EPS. The company’s quarterly revenue was up 14.4% on a year-over-year basis. Terex has set its FY 2025 guidance at 4.700-5.100 EPS. On average, equities analysts forecast that Terex will post 4.83 earnings per share for the current year.

Terex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Monday, November 10th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Monday, November 10th. Terex’s payout ratio is 28.94%.

Insider Transactions at Terex

In related news, Director Andra Rush purchased 2,120 shares of the company’s stock in a transaction on Friday, October 31st. The shares were bought at an average cost of $46.59 per share, for a total transaction of $98,770.80. Following the transaction, the director owned 25,428 shares of the company’s stock, valued at $1,184,690.52. This represents a 9.10% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, VP Scott Posner sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $50.50, for a total transaction of $252,500.00. Following the sale, the vice president owned 70,308 shares in the company, valued at $3,550,554. This trade represents a 6.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.90% of the stock is currently owned by insiders.

Institutional Trading of Terex

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC raised its position in shares of Terex by 565.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 486 shares of the industrial products company’s stock worth $25,000 after buying an additional 413 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Terex by 167.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 590 shares of the industrial products company’s stock worth $28,000 after buying an additional 369 shares in the last quarter. Rise Advisors LLC raised its position in shares of Terex by 65.3% during the 2nd quarter. Rise Advisors LLC now owns 610 shares of the industrial products company’s stock worth $28,000 after buying an additional 241 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Terex by 6,800.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 690 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 680 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of Terex by 56.4% in the 2nd quarter. Bessemer Group Inc. now owns 718 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 259 shares in the last quarter. 92.88% of the stock is currently owned by institutional investors.

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.