Evercore ISI Cuts Terex (NYSE:TEX) Price Target to $67.00

Terex (NYSE:TEX) had its target price lowered by research analysts at Evercore ISI from $74.00 to $67.00 in a note issued to investors on Thursday, The Fly reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Evercore ISI’s target price suggests a potential upside of 67.67% from the stock’s previous close.

A number of other brokerages have also weighed in on TEX. Zacks Investment Research lowered Terex from a “strong-buy” rating to a “hold” rating and set a $47.00 price objective on the stock. in a research report on Wednesday, September 29th. JPMorgan Chase & Co. upgraded Terex from a “neutral” rating to an “overweight” rating and set a $61.00 price objective on the stock in a research report on Tuesday, July 13th. Credit Suisse Group boosted their price objective on Terex from $52.00 to $58.00 and gave the stock a “neutral” rating in a research report on Monday, August 2nd. KeyCorp reduced their price objective on Terex from $59.00 to $54.00 and set an “overweight” rating on the stock in a research report on Monday, September 27th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Terex from $52.00 to $59.00 and gave the stock a “buy” rating in a research report on Monday, August 2nd. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Terex has a consensus rating of “Buy” and a consensus price target of $51.06.

Terex stock opened at $39.96 on Thursday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.36 and a current ratio of 2.11. Terex has a 52 week low of $22.77 and a 52 week high of $55.60. The stock has a market capitalization of $2.79 billion, a P/E ratio of 20.60 and a beta of 1.67. The stock has a fifty day moving average of $46.99 and a 200-day moving average of $47.57.

Terex (NYSE:TEX) last posted its quarterly earnings results on Wednesday, July 28th. The industrial products company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.42. Terex had a return on equity of 15.86% and a net margin of 3.98%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $993.12 million. On average, research analysts forecast that Terex will post 3 earnings per share for the current year.

In related news, VP Amy George sold 4,892 shares of the company’s stock in a transaction that occurred on Thursday, August 12th. The stock was sold at an average price of $53.75, for a total transaction of $262,945.00. Following the transaction, the vice president now directly owns 98,935 shares of the company’s stock, valued at approximately $5,317,756.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.90% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of TEX. Koshinski Asset Management Inc. bought a new position in shares of Terex in the third quarter valued at approximately $25,000. Point72 Hong Kong Ltd bought a new position in shares of Terex in the first quarter valued at approximately $40,000. Cullen Frost Bankers Inc. bought a new position in shares of Terex in the second quarter valued at approximately $48,000. Harvest Fund Management Co. Ltd bought a new position in shares of Terex in the first quarter valued at approximately $46,000. Finally, Lazard Asset Management LLC bought a new position in shares of Terex in the first quarter valued at approximately $47,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Terex Company Profile

Terex Corp. engages in the manufacturing of aerial work platforms, cranes, and materials processing machinery. The firm designs, builds and support products used in construction, maintenance, manufacturing, energy, minerals and materials management applications. It operates through the following segments: Aerial Work Platforms and Materials Processing.

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