Terex (NYSE:TEX) Cut to “Sell” at StockNews.com

StockNews.com lowered shares of Terex (NYSE:TEX) from a hold rating to a sell rating in a report released on Tuesday morning.

A number of other equities research analysts have also recently weighed in on TEX. Barclays dropped their price objective on Terex from $60.00 to $52.00 and set an “equal weight” rating for the company in a research note on Monday, February 10th. Truist Financial boosted their target price on Terex from $47.00 to $50.00 and gave the company a “buy” rating in a report on Monday, May 5th. Morgan Stanley reduced their price objective on Terex from $43.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Evercore ISI dropped their target price on Terex from $63.00 to $59.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. upped their price target on Terex from $38.00 to $43.00 and gave the stock a “neutral” rating in a report on Monday, May 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Terex currently has an average rating of “Hold” and an average target price of $47.50.

Terex Price Performance

NYSE:TEX opened at $46.92 on Tuesday. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of 9.46, a PEG ratio of 4.53 and a beta of 1.52. Terex has a 1 year low of $31.53 and a 1 year high of $68.08. The business has a 50 day simple moving average of $37.98 and a 200-day simple moving average of $44.61. 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 (NYSE:TEX) last announced its earnings results on Friday, May 2nd. The industrial products company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.26. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.26 billion. Terex had a return on equity of 21.99% and a net margin of 6.54%. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.60 EPS. Equities analysts forecast that Terex will post 4.83 EPS for the current year.

Terex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Friday, June 6th. Terex’s payout ratio is 18.53%.

Insider Buying and Selling at Terex

In other Terex news, Director Andra Rush acquired 1,325 shares of the stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $36.96 per share, for a total transaction of $48,972.00. Following the completion of the acquisition, the director now owns 23,308 shares in the company, valued at approximately $861,463.68. This represents a 6.03% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Joshua Gross sold 5,389 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $40.75, for a total transaction of $219,601.75. Following the completion of the sale, the insider now owns 38,755 shares of the company’s stock, valued at approximately $1,579,266.25. This represents a 12.21% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Terex

Large investors have recently modified their holdings of the business. UMB Bank n.a. lifted its holdings in shares of Terex by 83.0% in the 1st quarter. UMB Bank n.a. now owns 732 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 332 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of Terex in the 4th quarter worth approximately $29,000. Private Trust Co. NA lifted its holdings in shares of Terex by 128.0% in the 1st quarter. Private Trust Co. NA now owns 773 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 434 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in shares of Terex in the 4th quarter worth approximately $31,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Terex by 46.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 704 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 222 shares during the last quarter. 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.