Morgan Stanley Cuts Terex (NYSE:TEX) Price Target to $30.00

Terex (NYSE:TEX) had its price objective decreased by Morgan Stanley from $43.00 to $30.00 in a research note published on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the industrial products company’s stock.

Other equities research analysts also recently issued research reports about the company. Barclays lowered their price objective on Terex from $60.00 to $52.00 and set an “equal weight” rating for the company in a research report on Monday, February 10th. UBS Group cut Terex from a “neutral” rating to a “sell” rating and lowered their price target for the company from $49.00 to $32.00 in a report on Monday, April 7th. Citigroup decreased their target price on shares of Terex from $45.00 to $36.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. reduced their target price on Terex from $48.00 to $38.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, StockNews.com lowered Terex from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $45.60.

Terex Stock Up 1.2 %

TEX opened at $34.50 on Wednesday. The firm has a market cap of $2.29 billion, a P/E ratio of 6.96, a PEG ratio of 4.53 and a beta of 1.40. The business’s fifty day simple moving average is $39.31 and its 200 day simple moving average is $46.54. Terex has a 52 week low of $31.53 and a 52 week high of $68.08. 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 issued its quarterly earnings results on Thursday, February 6th. The industrial products company reported $0.77 EPS for the quarter, topping 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 firm earned $1.88 earnings per share. As a group, equities research analysts anticipate that Terex will post 4.83 EPS for the current fiscal 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 issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.68 dividend on an annualized basis and a yield of 1.97%. Terex’s dividend payout ratio is currently 13.71%.

Insider Activity

In related news, Director Andra Rush purchased 1,325 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $36.96 per share, with a total value of $48,972.00. Following the completion of the acquisition, the director now directly owns 23,308 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Terex

A number of institutional investors have recently modified their holdings of TEX. Orion Portfolio Solutions LLC bought a new position in Terex during the 3rd quarter worth approximately $217,000. Barclays PLC lifted its stake in Terex by 40.2% during the third quarter. Barclays PLC now owns 129,250 shares of the industrial products company’s stock worth $6,838,000 after purchasing an additional 37,072 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Terex by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,596,070 shares of the industrial products company’s stock worth $84,463,000 after purchasing an additional 8,624 shares during the period. Invst LLC bought a new stake in Terex during the third quarter valued at $206,000. Finally, Virtu Financial LLC bought a new position in shares of Terex in the 3rd quarter worth about $704,000. 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.