Terex (NYSE:TEX) Upgraded to "Buy" at The Goldman Sachs Group

Terex (NYSE:TEX - Get Free Report) was upgraded by The Goldman Sachs Group from a "neutral" rating to a "buy" rating in a report issued on Tuesday, Marketbeat reports. The firm presently has a $60.00 target price on the industrial products company's stock, up from their prior target price of $45.00. The Goldman Sachs Group's price target indicates a potential upside of 30.21% from the stock's current price.

Several other equities research analysts also recently issued reports on TEX. Morgan Stanley cut their price target on Terex from $43.00 to $30.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Barclays cut their target price on shares of Terex from $60.00 to $52.00 and set an "equal weight" rating for the company in a research note on Monday, February 10th. Truist Financial lifted their target price on shares of Terex from $47.00 to $50.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Evercore ISI increased their price target on shares of Terex from $59.00 to $62.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Finally, Robert W. Baird upgraded Terex from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $48.00 to $66.00 in a report on Tuesday, May 13th. Eight investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $50.20.

Terex Stock Performance

Shares of TEX traded down $1.14 during midday trading on Tuesday, reaching $46.08. The stock had a trading volume of 643,026 shares, compared to its average volume of 921,750. The firm has a market cap of $3.05 billion, a PE ratio of 9.29, a P/E/G ratio of 4.53 and a beta of 1.52. The firm has a 50 day simple moving average of $39.22 and a 200-day simple moving average of $44.16. Terex has a one year low of $31.53 and a one year high of $68.08. 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 (NYSE:TEX - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The industrial products company reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.26. Terex had a return on equity of 21.99% and a net margin of 6.54%. The business had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.26 billion. During the same quarter last year, the company posted $1.60 earnings per share. Terex's quarterly revenue was down 4.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Terex will post 4.83 EPS for the current year.

Insider Buying and Selling

In related news, Director Andra Rush acquired 1,325 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average cost of $36.96 per share, for a total transaction of $48,972.00. Following the transaction, the director now directly owns 23,308 shares in the company, valued at $861,463.68. This trade represents a 6.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joshua Gross sold 5,389 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $40.75, for a total transaction of $219,601.75. Following the completion of the transaction, the insider now directly owns 38,755 shares of the company's stock, valued at approximately $1,579,266.25. The trade was a 12.21% decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.

Institutional Trading of Terex

A number of hedge funds and other institutional investors have recently modified their holdings of TEX. UMB Bank n.a. boosted its holdings in shares of Terex by 83.0% during the 1st quarter. UMB Bank n.a. now owns 732 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 332 shares in the last quarter. Neo Ivy Capital Management bought a new position in Terex in the fourth quarter valued at about $29,000. Private Trust Co. NA boosted its stake in shares of Terex by 128.0% during the first quarter. Private Trust Co. NA now owns 773 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 434 shares in the last quarter. Strs Ohio acquired a new stake in shares of Terex during the first quarter valued at about $30,000. Finally, Jones Financial Companies Lllp bought a new stake in shares of Terex during the fourth quarter worth about $31,000. Institutional investors own 92.88% of the company's stock.

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.