The Goldman Sachs Group Issues Pessimistic Forecast for Terex (NYSE:TEX) Stock Price

Terex (NYSE:TEX) had its price target reduced by The Goldman Sachs Group from $60.00 to $52.00 in a research report released on Wednesday,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

Other research analysts have also issued reports about the stock. StockNews.com lowered shares of Terex from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Barclays decreased their price target on Terex from $60.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Monday, February 10th. Truist Financial dropped their price objective on Terex from $65.00 to $58.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Citigroup decreased their target price on Terex from $48.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Finally, Evercore ISI lowered their target price on Terex from $63.00 to $59.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $54.22.

Terex Stock Performance

Shares of TEX stock opened at $39.11 on Wednesday. The company has a current ratio of 2.16, a quick ratio of 1.09 and a debt-to-equity ratio of 1.41. Terex has a 12-month low of $36.15 and a 12-month high of $68.08. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 7.88, a price-to-earnings-growth ratio of 4.53 and a beta of 1.56. The stock has a 50 day simple moving average of $44.09 and a 200-day simple moving average of $48.92.

Terex (NYSE:TEX) last released its earnings results on Thursday, February 6th. The industrial products company reported $0.77 EPS 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 period in the prior year, the company earned $1.88 earnings per share. On average, equities analysts forecast that Terex will post 4.83 EPS for the current year.

Terex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, March 7th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date was Friday, March 7th. Terex’s payout ratio is currently 13.71%.

Insider Activity at Terex

In other news, Director Andra Rush bought 1,325 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average price of $36.96 per share, for a total transaction of $48,972.00. Following the completion of the transaction, the director now owns 23,308 shares in the company, valued at $861,463.68. The trade was a 6.03 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Neo Ivy Capital Management purchased a new stake in shares of Terex in the fourth quarter valued at $29,000. Jones Financial Companies Lllp acquired a new stake in Terex in the 4th quarter worth about $31,000. Smartleaf Asset Management LLC boosted its stake in Terex by 46.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 704 shares of the industrial products company’s stock worth $32,000 after buying an additional 222 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Terex in the 3rd quarter valued at about $40,000. Finally, Truvestments Capital LLC acquired a new position in shares of Terex during the 3rd quarter valued at about $41,000. Hedge funds and other institutional investors own 92.88% of the company’s stock.

About Terex

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.