JPMorgan Chase & Co. Lowers Terex (NYSE:TEX) Price Target to $38.00

Terex (NYSE:TEX) had its target price cut by JPMorgan Chase & Co. from $48.00 to $38.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

Other research analysts have also recently issued reports about the stock. Evercore ISI dropped their target price on shares of Terex from $63.00 to $59.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. StockNews.com downgraded shares of Terex from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Truist Financial reduced 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, April 8th. Citigroup dropped their target price on Terex from $45.00 to $36.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Finally, UBS Group lowered Terex from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $49.00 to $32.00 in a research report on Monday, April 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $45.60.

Terex Trading Down 1.4 %

Shares of TEX opened at $34.10 on Monday. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 6.88, a PEG ratio of 4.53 and a beta of 1.40. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.16 and a quick ratio of 1.09. Terex has a 1-year low of $31.53 and a 1-year high of $68.08. The company has a 50-day moving average of $39.73 and a 200 day moving average of $46.79.

Terex (NYSE:TEX) last announced its quarterly earnings data on Thursday, February 6th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.01. Terex had a return on equity of 21.99% and a net margin of 6.54%. During the same period in the previous year, the company earned $1.88 EPS. On average, research analysts expect that Terex will post 4.83 EPS for the current year.

Terex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, March 7th were given a dividend of $0.17 per share. The ex-dividend date was Friday, March 7th. This represents a $0.68 dividend on an annualized basis and a yield of 1.99%. Terex’s dividend payout ratio is presently 13.71%.

Insiders Place Their Bets

In other news, Director Andra Rush purchased 1,325 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of $36.96 per share, for a total transaction of $48,972.00. Following the completion of the transaction, the director now owns 23,308 shares in the company, valued at $861,463.68. This represents a 6.03 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 1.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Terex

Several institutional investors and hedge funds have recently modified their holdings of TEX. FMR LLC increased its position in shares of Terex by 17.0% in the fourth quarter. FMR LLC now owns 8,782,287 shares of the industrial products company’s stock valued at $405,917,000 after buying an additional 1,272,920 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in Terex by 94.8% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,150,673 shares of the industrial products company’s stock worth $99,404,000 after acquiring an additional 1,046,600 shares in the last quarter. First Trust Advisors LP raised its position in Terex by 43.2% during the fourth quarter. First Trust Advisors LP now owns 1,930,923 shares of the industrial products company’s stock worth $89,247,000 after acquiring an additional 582,819 shares during the period. Fisher Asset Management LLC lifted its holdings in Terex by 2.3% during the fourth quarter. Fisher Asset Management LLC now owns 1,890,625 shares of the industrial products company’s stock valued at $87,385,000 after purchasing an additional 41,685 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of Terex by 8.4% in the fourth quarter. American Century Companies Inc. now owns 1,741,206 shares of the industrial products company’s stock valued at $80,479,000 after purchasing an additional 135,286 shares during the period. Hedge funds and other institutional investors 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.