Terex’s (TEX) “Buy” Rating Reiterated at Truist Financial

Truist Financial reiterated their buy rating on shares of Terex (NYSE:TEX) in a research report report published on Thursday,Benzinga reports. They currently have a $87.00 price objective on the industrial products company’s stock, up from their previous price objective of $85.00.

Several other analysts have also commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Terex in a research note on Thursday, October 15th. Wells Fargo & Company dropped their price objective on Terex from $70.00 to $60.00 and set an “equal weight” rating for the company in a research note on Monday, October 26th. Citigroup dropped their price objective on Terex from $80.00 to $65.00 and set a “buy” rating for the company in a research note on Monday, October 12th. Morgan Stanley reissued an “overweight” rating and set a $86.00 price objective on shares of Terex in a report on Monday, August 3rd. Finally, Wall Street Zen downgraded shares of Terex from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $74.73.

Terex Stock Down 0.8%

NYSE TEX opened at $56.08 on Thursday. The company has a current ratio of 1.76, a quick ratio of 0.93 and a debt-to-equity ratio of 0.52. The stock’s 50 day moving average is $57.21 and its two-hundred day moving average is $61.88. The company has a market capitalization of $6.41 billion, a price-to-earnings ratio of 28.32, a PEG ratio of 1.03 and a beta of 1.47. Terex has a 1-year low of $41.70 and a 1-year high of $74.69.

Terex (NYSE:TEX) last released its quarterly earnings data on Wednesday, October 28th. The industrial products company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.08. Terex had a return on equity of 11.79% and a net margin of 2.64%. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the company posted $1.50 EPS. The company’s revenue was up 58.4% compared to the same quarter last year. Equities analysts forecast that Terex will post 4.93 earnings per share for the current fiscal year.

Terex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Monday, November 9th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, November 9th. Terex’s payout ratio is presently 34.34%.

Institutional Investors Weigh In On Terex

Large investors have recently bought and sold shares of the business. Ancora Advisors LLC acquired a new stake in shares of Terex in the second quarter valued at approximately $29,000. Essential Partners LLC raised its position in Terex by 171.2% in the 1st quarter. Essential Partners LLC now owns 564 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 356 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Terex in the 2nd quarter worth approximately $35,000. Optiver Holding B.V. lifted its holdings in Terex by 67.5% during the 1st quarter. Optiver Holding B.V. now owns 782 shares of the industrial products company’s stock worth $46,000 after buying an additional 315 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC acquired a new position in Terex during the 1st quarter worth $47,000. 92.88% of the stock is currently owned by institutional investors.

Terex Company Profile

Terex Corporation (NYSE:TEX) is a global manufacturer of equipment used in construction, infrastructure development, utilities, recycling and material processing. The company designs and produces machinery intended to help customers build, maintain and improve transportation networks, commercial sites, utility systems and industrial facilities.

Terex operates primarily through its Aerial Work Platforms and Materials Processing businesses. Its products include aerial lifts, telehandlers and other access equipment, as well as crushing, screening, conveying, washing, recycling and environmental-processing machinery.