Evercore ISI Increases Terex (NYSE:TEX) Price Target to $62.00

by · The Markets Daily

Terex (NYSE:TEX – Free Report) had its price objective upped by Evercore ISI from $59.00 to $62.00 in a research note released on Monday,Benzinga reports. The brokerage currently has an outperform rating on the industrial products company’s stock.

Several other analysts have also recently commented on the stock. Robert W. Baird raised shares of Terex from a “neutral” rating to an “outperform” rating and increased their price target for the company from $48.00 to $66.00 in a research note on Tuesday, May 13th. UBS Group raised shares of Terex from a “sell” rating to a “neutral” rating and raised their price objective for the company from $34.00 to $48.00 in a research note on Friday, May 16th. JPMorgan Chase & Co. increased their target price on shares of Terex from $38.00 to $43.00 and gave the stock a “neutral” rating in a report on Monday, May 5th. Morgan Stanley cut their target price on shares of Terex from $43.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Finally, StockNews.com lowered shares of Terex from a “hold” rating to a “sell” rating in a report on Tuesday, May 13th. Nine investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $49.40.

View Our Latest Research Report on TEX

Terex Price Performance

TEX opened at $45.61 on Monday. Terex has a one year low of $31.53 and a one year high of $68.08. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.16 and a quick ratio of 1.09. The company’s 50 day simple moving average is $38.59 and its 200-day simple moving average is $44.48. The stock has a market capitalization of $3.02 billion, a P/E ratio of 9.20, a price-to-earnings-growth ratio of 4.53 and a beta of 1.52.

Terex (NYSE:TEX – Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The industrial products company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.57 by $0.26. Terex had a net margin of 6.54% and a return on equity of 21.99%. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the prior year, the firm earned $1.60 earnings per share. Terex’s revenue was down 4.9% compared to the same quarter last year. Sell-side analysts anticipate that Terex will post 4.83 earnings per share for the current fiscal year.

Terex Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, June 6th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.49%. Terex’s payout ratio is 18.53%.

Insider Buying and Selling

In other news, Director Andra Rush acquired 1,325 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $36.96 per share, with a total value of $48,972.00. Following the transaction, the director now directly owns 23,308 shares in the company, valued at approximately $861,463.68. The trade was a 6.03% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Joshua Gross sold 5,389 shares of Terex 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 transaction, the insider now directly owns 38,755 shares of the company’s stock, valued at approximately $1,579,266.25. This trade represents a 12.21% decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.

Institutional Trading of Terex

Hedge funds and other institutional investors have recently bought and sold shares of the business. UMB Bank n.a. raised its position 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 valued at $28,000 after buying an additional 332 shares in the last quarter. Neo Ivy Capital Management bought a new stake in Terex during the 4th quarter worth approximately $29,000. Private Trust Co. NA grew its holdings in Terex by 128.0% during 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 Terex during the 4th quarter worth approximately $31,000. Finally, Smartleaf Asset Management LLC boosted its stake 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 valued at $32,000 after purchasing an additional 222 shares during the last quarter. Institutional investors and hedge funds own 92.88% of the company’s stock.

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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