The Goldman Sachs Group Cuts Terex (NYSE:TEX) Price Target to $41.00

Terex (NYSE:TEXGet Rating) had its price objective decreased by The Goldman Sachs Group from $48.00 to $41.00 in a report published on Thursday morning, Marketbeat reports. The Goldman Sachs Group currently has a neutral rating on the industrial products company’s stock.

Other equities analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Terex from $64.00 to $65.00 and gave the company a buy rating in a research report on Thursday. Robert W. Baird cut shares of Terex from an outperform rating to a neutral rating and set a $44.00 price target for the company. in a research report on Friday, April 8th. Wells Fargo & Company assumed coverage on shares of Terex in a research report on Friday, March 11th. They issued an overweight rating and a $64.00 price target for the company. JPMorgan Chase & Co. decreased their price target on shares of Terex from $61.00 to $57.00 and set an overweight rating for the company in a research report on Monday, March 28th. Finally, StockNews.com assumed coverage on shares of Terex in a research report on Thursday, March 31st. They issued a hold rating for the company. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Terex currently has a consensus rating of Buy and an average price target of $54.67.

Shares of NYSE TEX opened at $34.81 on Thursday. Terex has a 1 year low of $32.11 and a 1 year high of $55.60. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.94 and a quick ratio of 1.05. The company has a 50 day simple moving average of $38.50 and a 200-day simple moving average of $42.47. The company has a market capitalization of $2.44 billion, a P/E ratio of 11.16, a P/E/G ratio of 0.49 and a beta of 1.59.

Terex (NYSE:TEXGet Rating) last posted its earnings results on Thursday, February 10th. The industrial products company reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.28. Terex had a net margin of 5.68% and a return on equity of 21.01%. The firm had revenue of $990.10 million during the quarter, compared to the consensus estimate of $952.90 million. During the same quarter last year, the firm earned $0.21 EPS. The firm’s revenue for the quarter was up 25.9% on a year-over-year basis. As a group, research analysts expect that Terex will post 3.9 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 21st. Shareholders of record on Wednesday, March 9th were paid a $0.13 dividend. The ex-dividend date was Tuesday, March 8th. This is a positive change from Terex’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 1.49%. Terex’s payout ratio is currently 16.67%.

In other Terex news, VP Scott Posner sold 3,853 shares of Terex stock in a transaction on Tuesday, March 8th. The shares were sold at an average price of $36.14, for a total value of $139,247.42. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 2.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its stake in Terex by 6.6% in the fourth quarter. BlackRock Inc. now owns 7,955,556 shares of the industrial products company’s stock valued at $349,647,000 after purchasing an additional 489,129 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Terex by 329.6% during the fourth quarter. JPMorgan Chase & Co. now owns 3,570,805 shares of the industrial products company’s stock worth $156,937,000 after acquiring an additional 2,739,622 shares during the period. State Street Corp increased its stake in shares of Terex by 1.8% during the fourth quarter. State Street Corp now owns 2,135,563 shares of the industrial products company’s stock worth $93,858,000 after acquiring an additional 37,188 shares during the period. Invesco Ltd. increased its stake in shares of Terex by 4.7% during the third quarter. Invesco Ltd. now owns 1,750,427 shares of the industrial products company’s stock worth $73,693,000 after acquiring an additional 78,442 shares during the period. Finally, Alliancebernstein L.P. increased its stake in shares of Terex by 49.6% during the fourth quarter. Alliancebernstein L.P. now owns 1,319,307 shares of the industrial products company’s stock worth $57,984,000 after acquiring an additional 437,319 shares during the period. Institutional investors own 85.80% of the company’s stock.

Terex Company Profile (Get Rating)

Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Aerial Work Platforms (AWP) and Materials Processing (MP). The AWP segment designs, manufactures, services, and markets aerial work platform equipment, utility equipment, and telehandlers under the Terex and Genie brands.

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