Terex (NYSE:TEX) Price Target Lowered to $30.00 at Morgan Stanley

Terex (NYSE:TEX) had its price target decreased by Morgan Stanley from $43.00 to $30.00 in a research report report published on Wednesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the industrial products company’s stock.

Several other equities research analysts also recently weighed in on the stock. Barclays reduced their price objective on shares of Terex from $60.00 to $52.00 and set an “equal weight” rating for the company in a report on Monday, February 10th. The Goldman Sachs Group reduced their price target on shares of Terex from $60.00 to $52.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. StockNews.com lowered shares of Terex from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. lowered their target price on Terex from $48.00 to $38.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, Truist Financial cut their target price on shares of Terex from $58.00 to $47.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.60.

Terex Stock Up 1.2 %

TEX stock opened at $34.50 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 2.16 and a debt-to-equity ratio of 1.41. The firm’s 50-day simple moving average is $39.31 and its 200 day simple moving average is $46.54. The stock has a market cap of $2.29 billion, a PE ratio of 6.96, a price-to-earnings-growth ratio of 4.53 and a beta of 1.40. Terex has a fifty-two week low of $31.53 and a fifty-two week high of $68.08.

Terex (NYSE:TEX) last released its quarterly earnings results on Thursday, February 6th. The industrial products company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. Terex had a return on equity of 21.99% and a net margin of 6.54%. During the same quarter in the previous year, the firm earned $1.88 EPS. As a group, sell-side analysts predict that Terex will post 4.83 EPS for the current year.

Terex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.97%. The ex-dividend date was Friday, March 7th. Terex’s dividend payout ratio is 13.71%.

Insider Activity

In other news, Director Andra Rush bought 1,325 shares of the stock in a transaction on Tuesday, March 4th. The stock was purchased at an average price of $36.96 per share, with a total value of $48,972.00. Following the completion of the purchase, the director now owns 23,308 shares of the company’s stock, valued at approximately $861,463.68. This trade represents a 6.03 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Terex

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. QRG Capital Management Inc. grew its holdings in shares of Terex by 12.4% in the 1st quarter. QRG Capital Management Inc. now owns 5,586 shares of the industrial products company’s stock valued at $211,000 after acquiring an additional 615 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Terex by 88.1% during the first quarter. Fifth Third Bancorp now owns 905 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 424 shares during the period. GAMMA Investing LLC increased its position in Terex by 65.3% during the 1st quarter. GAMMA Investing LLC now owns 1,309 shares of the industrial products company’s stock worth $49,000 after buying an additional 517 shares during the period. UMB Bank n.a. raised its stake in Terex by 83.0% in the 1st quarter. UMB Bank n.a. now owns 732 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 332 shares in the last quarter. Finally, E. Ohman J or Asset Management AB raised its position in shares of Terex by 66.4% in the first quarter. E. Ohman J or Asset Management AB now owns 61,727 shares of the industrial products company’s stock valued at $2,332,000 after buying an additional 24,626 shares in the last quarter. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Terex Company Profile

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.