Terex (NYSE:TEX) Price Target Raised to $65.00

by · The Cerbat Gem

Terex (NYSE:TEX – Get Free Report) had its price objective hoisted by investment analysts at Truist Financial from $62.00 to $65.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target would suggest a potential upside of 25.26% from the stock’s previous close.

TEX has been the topic of several other research reports. Citigroup dropped their target price on Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a report on Monday, September 23rd. Evercore ISI decreased their target price on shares of Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. JPMorgan Chase & Co. decreased their target price on shares of Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Robert W. Baird decreased their target price on shares of Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, The Goldman Sachs Group decreased their target price on shares of Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Terex presently has an average rating of “Hold” and a consensus price target of $59.56.

Get Our Latest Stock Analysis on TEX

Terex Stock Up 0.9 %

Shares of NYSE TEX traded up $0.48 during mid-day trading on Monday, hitting $51.89. The company had a trading volume of 74,842 shares, compared to its average volume of 821,881. The company has a market capitalization of $3.47 billion, a PE ratio of 7.58, a price-to-earnings-growth ratio of 4.28 and a beta of 1.53. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.07. Terex has a 1-year low of $46.94 and a 1-year high of $68.08. The business’s 50-day simple moving average is $53.29 and its 200 day simple moving average is $56.05.

Terex (NYSE:TEX – Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.15. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Terex had a return on equity of 24.92% and a net margin of 9.08%. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period last year, the firm earned $1.75 earnings per share. On average, analysts predict that Terex will post 5.92 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TEX. Blue Trust Inc. raised its holdings in Terex by 57.5% in the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 187 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Terex by 83.3% during the 3rd quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock worth $39,000 after buying an additional 335 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Terex by 74.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company’s stock worth $62,000 after buying an additional 504 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Terex during the 2nd quarter worth $109,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Terex during the 2nd quarter worth $111,000. 92.88% of the stock is owned by hedge funds and other institutional investors.

Terex Company Profile

(Get Free Report)

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.

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