Raymond James Financial Upgrades Terex (NYSE:TEX) to Strong-Buy

Key Points

• Raymond James Financial upgraded Terex from “outperform” to “strong-buy” and kept an $85 price target, implying about 33.8% upside from the stock’s current price.
• Terex reported better-than-expected quarterly results, with EPS of $0.98 versus estimates of $0.78 and revenue of $1.73 billion, up 41.1% year over year.
• Analyst sentiment remains generally positive, with the stock carrying an average “Moderate Buy” rating and an average target price of $72.18, while institutional ownership remains high at 92.88%.

Terex (NYSE:TEX - Get Free Report) was upgraded by equities researchers at Raymond James Financial from an "outperform" rating to a "strong-buy" rating in a report released on Monday, MarketBeat Ratings reports. The brokerage presently has a $85.00 price target on the industrial products company's stock. Raymond James Financial's target price indicates a potential upside of 33.79% from the company's current price.

TEX has been the topic of several other research reports. Truist Financial upped their target price on Terex from $72.00 to $82.00 and gave the company a "buy" rating in a report on Thursday, February 12th. Weiss Ratings reissued a "hold (c)" rating on shares of Terex in a report on Monday, April 20th. Morgan Stanley reissued an "overweight" rating and issued a $84.00 target price on shares of Terex in a report on Wednesday. JPMorgan Chase & Co. lowered their target price on Terex from $76.00 to $60.00 and set a "neutral" rating on the stock in a report on Friday, April 10th. Finally, Barclays started coverage on Terex in a report on Tuesday, March 31st. They issued an "overweight" rating and a $65.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Terex has an average rating of "Moderate Buy" and an average target price of $72.18.

Terex Trading Down 0.1%

Shares of TEX stock opened at $63.53 on Monday. The business's fifty day moving average price is $61.67 and its 200 day moving average price is $57.33. Terex has a 1-year low of $40.83 and a 1-year high of $71.50. The firm has a market capitalization of $7.26 billion, a PE ratio of 30.40, a P/E/G ratio of 0.99 and a beta of 1.57. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.84 and a quick ratio of 0.88.

Terex (NYSE:TEX - Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The industrial products company reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $0.20. Terex had a return on equity of 13.43% and a net margin of 1.87%.The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the prior year, the company posted $0.83 earnings per share. Terex's quarterly revenue was up 41.1% on a year-over-year basis. Terex has set its FY 2026 guidance at 4.500-5.000 EPS. As a group, sell-side analysts forecast that Terex will post 4.85 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Kieran Hegarty sold 11,980 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $69.24, for a total transaction of $829,495.20. Following the sale, the insider owned 173,495 shares of the company's stock, valued at $12,012,793.80. This trade represents a 6.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joshua Gross sold 5,874 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $61.53, for a total value of $361,427.22. Following the sale, the insider directly owned 48,706 shares in the company, valued at approximately $2,996,880.18. The trade was a 10.76% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Terex

Several large investors have recently added to or reduced their stakes in TEX. Ballast Asset Management LP raised its holdings in shares of Terex by 57.0% in the 3rd quarter. Ballast Asset Management LP now owns 85,795 shares of the industrial products company's stock worth $4,401,000 after purchasing an additional 31,145 shares during the period. Retirement Systems of Alabama raised its holdings in shares of Terex by 48.4% in the 3rd quarter. Retirement Systems of Alabama now owns 119,014 shares of the industrial products company's stock worth $6,105,000 after purchasing an additional 38,836 shares during the period. Capricorn Fund Managers Ltd purchased a new position in shares of Terex in the 4th quarter worth about $6,939,000. Lodge Hill Capital LLC raised its holdings in shares of Terex by 53.7% in the 3rd quarter. Lodge Hill Capital LLC now owns 529,450 shares of the industrial products company's stock worth $27,161,000 after purchasing an additional 185,000 shares during the period. Finally, Citigroup Inc. raised its holdings in shares of Terex by 253.8% in the 3rd quarter. Citigroup Inc. now owns 259,094 shares of the industrial products company's stock worth $13,292,000 after purchasing an additional 185,863 shares during the period. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

Terex Company Profile

Terex Corporation is a global manufacturer of lifting and material-handling plant and equipment, serving a range of industries that includes construction, infrastructure, energy, manufacturing and shipping logistics. Its product portfolio encompasses aerial work platforms, rough terrain and tower cranes, port and cargo handling equipment, material processing machinery and utility products. These offerings are marketed under well-known brands such as Genie®, Terex® AWP, Terex® Cranes, Demag®, and Powerscreen®, and are designed to meet diverse application requirements from building sites to industrial facilities and ports.

Headquartered in Westport, Connecticut, Terex traces its roots back to 1933 and has grown through strategic acquisitions and organic expansion.

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