Terex (NYSE:TEX) Reaches New 12-Month High – Still a Buy?
by Teresa Graham · The Cerbat GemTerex Corporation (NYSE:TEX – Get Free Report)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $58.75 and last traded at $58.5850, with a volume of 588579 shares. The stock had previously closed at $56.44.
Wall Street Analyst Weigh In
A number of research analysts have commented on the company. Citigroup decreased their price target on Terex from $58.00 to $52.00 and set a “neutral” rating on the stock in a research note on Monday, November 3rd. Wells Fargo & Company initiated coverage on Terex in a research note on Thursday, November 13th. They set an “equal weight” rating and a $50.00 target price on the stock. Wall Street Zen cut Terex from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Terex in a research note on Wednesday, October 8th. Finally, Raymond James Financial raised shares of Terex from a “market perform” rating to an “outperform” rating and set a $70.00 price objective for the company in a research note on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.73.
Get Our Latest Stock Report on Terex
Terex Stock Up 4.0%
The company has a debt-to-equity ratio of 1.28, a current ratio of 2.15 and a quick ratio of 1.20. The company has a market cap of $3.85 billion, a PE ratio of 24.98, a P/E/G ratio of 4.96 and a beta of 1.67. The business’s 50 day moving average is $49.43 and its 200-day moving average is $50.57.
Terex (NYSE:TEX – Get Free Report) last announced its quarterly earnings data on Thursday, October 30th. The industrial products company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.28. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.41 billion. Terex had a net margin of 2.92% and a return on equity of 15.93%. The company’s revenue was up 14.4% on a year-over-year basis. During the same period last year, the business earned $1.46 EPS. Terex has set its FY 2025 guidance at 4.700-5.100 EPS. As a group, analysts predict that Terex Corporation will post 4.83 EPS for the current year.
Terex Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Monday, November 10th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Monday, November 10th. Terex’s payout ratio is 28.94%.
Insider Activity at Terex
In other Terex news, Director Andra Rush bought 2,120 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was purchased at an average price of $46.59 per share, for a total transaction of $98,770.80. Following the completion of the purchase, the director directly owned 25,428 shares in the company, valued at $1,184,690.52. This trade represents a 9.10% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.90% of the company’s stock.
Institutional Investors Weigh In On Terex
Large investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Terex by 23.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 618,958 shares of the industrial products company’s stock valued at $23,385,000 after purchasing an additional 119,330 shares during the last quarter. Millennium Management LLC increased its stake in Terex by 1,086.3% in the first quarter. Millennium Management LLC now owns 256,054 shares of the industrial products company’s stock valued at $9,674,000 after purchasing an additional 234,470 shares during the period. Petrus Trust Company LTA purchased a new stake in shares of Terex in the first quarter valued at about $214,000. Jones Financial Companies Lllp boosted its stake in shares of Terex by 427.2% during the first quarter. Jones Financial Companies Lllp now owns 3,506 shares of the industrial products company’s stock worth $132,000 after buying an additional 2,841 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Terex by 3.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,092,189 shares of the industrial products company’s stock worth $41,263,000 after buying an additional 40,077 shares during the period. 92.88% of the stock is owned by institutional investors and hedge funds.
Terex Company Profile
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.