Citigroup Lowers Terex (NYSE:TEX) Price Target to $36.00

Terex (NYSE:TEX) had its price target trimmed by Citigroup from $45.00 to $36.00 in a research report sent to investors on Tuesday,Benzinga reports. The firm currently has a neutral rating on the industrial products company’s stock.

A number of other research firms also recently commented on TEX. UBS Group downgraded shares of Terex from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $49.00 to $32.00 in a research note on Monday. Evercore ISI dropped 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. Truist Financial dropped their price objective on shares of Terex from $58.00 to $47.00 and set a “buy” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. dropped their price objective on shares of Terex from $51.00 to $48.00 and set a “neutral” rating for the company in a research note on Tuesday, March 18th. Finally, The Goldman Sachs Group dropped their target price on shares of Terex from $60.00 to $52.00 and set a “neutral” rating for the company in a research report on Wednesday, March 19th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Terex currently has an average rating of “Hold” and an average target price of $48.44.

Terex Price Performance

NYSE:TEX opened at $34.11 on Tuesday. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 6.88, a price-to-earnings-growth ratio of 4.53 and a beta of 1.40. The company has a current ratio of 2.16, a quick ratio of 1.09 and a debt-to-equity ratio of 1.41. The company’s 50-day moving average is $40.69 and its two-hundred day moving average is $47.23. Terex has a 12-month low of $31.53 and a 12-month high of $68.08.

Terex (NYSE:TEX) last posted its quarterly earnings data on Thursday, February 6th. The industrial products company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the company posted $1.88 earnings per share. Research analysts expect that Terex will post 4.83 EPS for the current year.

Terex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Friday, March 7th. Terex’s dividend payout ratio (DPR) is 13.71%.

Insider Buying and Selling at Terex

In other news, Director Andra Rush acquired 1,325 shares of the stock in a transaction on Tuesday, March 4th. The stock was bought at an average price of $36.96 per share, with a total value of $48,972.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.90% of the stock is owned by corporate insiders.

Institutional Trading of Terex

Several large investors have recently bought and sold shares of TEX. Neo Ivy Capital Management acquired a new stake in Terex in the fourth quarter valued at approximately $29,000. Jones Financial Companies Lllp purchased a new position in shares of Terex during the 4th quarter valued at approximately $31,000. Smartleaf Asset Management LLC boosted its stake in shares of Terex by 46.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 704 shares of the industrial products company’s stock valued at $32,000 after buying an additional 222 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Terex during the 3rd quarter valued at approximately $40,000. Finally, VisionPoint Advisory Group LLC purchased a new position in shares of Terex during the 4th quarter valued at approximately $51,000. Institutional investors and hedge funds own 92.88% of the company’s stock.

Terex Company Profile

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.