Terex (NYSE:TEX) Sets New 52-Week High on Analyst Upgrade

Terex Corporation (NYSE:TEX) hit a new 52-week high during mid-day trading on Thursday after DA Davidson upgraded the stock to a strong-buy rating. DA Davidson now has a $81.00 price target on the stock. Terex traded as high as $73.10 and last traded at $73.1550, with a volume of 56784 shares traded. The stock had previously closed at $70.10.

Several other equities research analysts also recently commented on the company. Morgan Stanley reaffirmed an “overweight” rating and set a $84.00 target price on shares of Terex in a report on Wednesday, May 6th. JPMorgan Chase & Co. cut their price objective on Terex from $76.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, April 10th. Raymond James Financial upgraded Terex from an “outperform” rating to a “strong-buy” rating and set a $85.00 price objective on the stock in a report on Monday, May 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Terex in a report on Monday, April 20th. Finally, Barclays began coverage on shares of Terex in a report on Tuesday, March 31st. They issued an “overweight” rating and a $65.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $75.82.

Insider Activity

In other news, insider Joshua Gross sold 5,874 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $61.53, for a total value of $361,427.22. Following the completion of the sale, the insider owned 48,706 shares of the company’s stock, valued at $2,996,880.18. This trade represents a 10.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Terex

Several hedge funds have recently bought and sold shares of TEX. Dimensional Fund Advisors LP increased its holdings in shares of Terex by 29.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,442,435 shares of the industrial products company’s stock valued at $262,527,000 after purchasing an additional 1,008,444 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Terex by 17.9% during the fourth quarter. Wellington Management Group LLP now owns 2,798,109 shares of the industrial products company’s stock worth $149,363,000 after purchasing an additional 425,322 shares during the period. Morgan Stanley boosted its holdings in shares of Terex by 77.2% during the fourth quarter. Morgan Stanley now owns 1,669,042 shares of the industrial products company’s stock worth $89,094,000 after purchasing an additional 727,277 shares during the period. Invesco Ltd. grew its position in Terex by 1.0% during the fourth quarter. Invesco Ltd. now owns 1,620,342 shares of the industrial products company’s stock valued at $86,494,000 after purchasing an additional 16,377 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Terex by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,616,942 shares of the industrial products company’s stock valued at $86,326,000 after purchasing an additional 6,707 shares in the last quarter. 92.88% of the stock is owned by hedge funds and other institutional investors.

Terex Trading Up 5.6%

The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.88 and a current ratio of 1.84. The stock has a market cap of $8.45 billion, a price-to-earnings ratio of 35.28, a price-to-earnings-growth ratio of 1.06 and a beta of 1.53. The company’s 50 day simple moving average is $61.96 and its two-hundred day simple moving average is $60.67.

Terex (NYSE:TEX) last issued its earnings results on Friday, May 1st. The industrial products company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.20. Terex had a net margin of 1.87% and a return on equity of 13.43%. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same quarter last year, the business posted $0.83 EPS. The company’s revenue for the quarter was up 41.1% on a year-over-year basis. Terex has set its FY 2026 guidance at 4.500-5.000 EPS. Research analysts expect that Terex Corporation will post 4.87 EPS for the current fiscal year.

Terex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Monday, June 8th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.68 dividend on an annualized basis and a yield of 0.9%. Terex’s dividend payout ratio (DPR) is presently 32.54%.

About Terex

Terex Corporation is a global manufacturer of lifting and material-handling plant and equipment, serving a range of industries that includes construction, infrastructure, energy, manufacturing and shipping logistics. Its product portfolio encompasses aerial work platforms, rough terrain and tower cranes, port and cargo handling equipment, material processing machinery and utility products. These offerings are marketed under well-known brands such as Genie®, Terex® AWP, Terex® Cranes, Demag®, and Powerscreen®, and are designed to meet diverse application requirements from building sites to industrial facilities and ports.

Headquartered in Westport, Connecticut, Terex traces its roots back to 1933 and has grown through strategic acquisitions and organic expansion.