Terex (NYSE:TEX) Price Target Cut to $59.00 by Analysts at JPMorgan Chase & Co.

Terex (NYSE:TEXGet Free Report) had its target price decreased by JPMorgan Chase & Co. from $63.00 to $59.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 14.34% from the stock’s previous close.

Several other brokerages have also recently weighed in on TEX. UBS Group boosted their price objective on Terex from $62.00 to $64.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. Citigroup initiated coverage on Terex in a research note on Wednesday, June 26th. They set a “neutral” rating and a $60.00 target price on the stock. Raymond James initiated coverage on Terex in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Finally, Truist Financial cut their target price on Terex from $73.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Terex currently has a consensus rating of “Hold” and an average target price of $64.33.

Get Our Latest Research Report on Terex

Terex Price Performance

Shares of NYSE:TEX traded down $0.08 during mid-day trading on Wednesday, reaching $51.60. The stock had a trading volume of 497,504 shares, compared to its average volume of 754,546. The company has a current ratio of 2.16, a quick ratio of 1.06 and a debt-to-equity ratio of 0.42. The company has a market cap of $3.47 billion, a P/E ratio of 6.88 and a beta of 1.57. Terex has a 1 year low of $43.70 and a 1 year high of $65.89. The business’s 50 day moving average price is $57.19 and its 200 day moving average price is $58.65.

Terex (NYSE:TEXGet Free Report) last posted its earnings results on Thursday, April 25th. The industrial products company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.23. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.23 billion. Terex had a return on equity of 30.53% and a net margin of 9.87%. Research analysts expect that Terex will post 7.09 EPS for the current fiscal year.

Insider Buying and Selling

In other Terex news, CAO Stephen Johnston sold 3,239 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $62.00, for a total transaction of $200,818.00. Following the completion of the sale, the chief accounting officer now owns 14,606 shares in the company, valued at $905,572. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Terex news, CAO Stephen Johnston sold 3,239 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $62.00, for a total transaction of $200,818.00. Following the completion of the sale, the chief accounting officer now owns 14,606 shares in the company, valued at $905,572. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Kieran Hegarty sold 17,190 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $58.26, for a total value of $1,001,489.40. Following the sale, the insider now owns 200,029 shares of the company’s stock, valued at approximately $11,653,689.54. The disclosure for this sale can be found here. Insiders have sold a total of 32,929 shares of company stock valued at $1,958,307 over the last quarter. 1.90% of the stock is owned by corporate insiders.

Institutional Trading of Terex

Hedge funds and other institutional investors have recently made changes to their positions in the business. Curated Wealth Partners LLC grew its position in Terex by 48.1% during the 4th quarter. Curated Wealth Partners LLC now owns 176,922 shares of the industrial products company’s stock worth $10,166,000 after purchasing an additional 57,500 shares during the period. International Assets Investment Management LLC grew its position in Terex by 5,549.8% during the 4th quarter. International Assets Investment Management LLC now owns 128,193 shares of the industrial products company’s stock worth $7,366,000 after purchasing an additional 125,924 shares during the period. Assenagon Asset Management S.A. grew its position in Terex by 103.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 110,391 shares of the industrial products company’s stock worth $6,343,000 after purchasing an additional 56,169 shares during the period. Connectus Wealth LLC acquired a new stake in Terex during the 4th quarter worth about $1,872,000. Finally, Brevan Howard Capital Management LP acquired a new stake in Terex during the 4th quarter worth about $1,489,000. Hedge funds and other institutional investors 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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Analyst Recommendations for Terex (NYSE:TEX)

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