Terex Corporation Receives “Moderate Buy” Consensus from Analysts

Terex Corporation (NYSE:TEX) has been assigned a consensus rating of “Moderate Buy” by analysts covering the company, as reported by MarketBeat. Out of thirteen brokerages, six recommend a hold, six suggest buying the stock, and one has rated it as a strong buy. The average twelve-month price target among analysts who have updated their assessments in the past year stands at approximately $58.64.

Several firms have recently updated their ratings and price targets for Terex. On December 10, 2023, Morgan Stanley upgraded the company from an “equal weight” to an “overweight” rating, raising their target price from $47.00 to $60.00. Conversely, UBS Group lowered its price target from $52.00 to $51.00 while maintaining a “neutral” rating in a report dated November 6, 2023.

Wells Fargo & Company initiated coverage on Terex on November 13, 2023, assigning an “equal weight” rating with a price objective of $50.00. Further, Wall Street Zen adjusted its rating from “strong buy” to “buy” on December 21, 2023. Finally, Citigroup increased its price target from $52.00 to $62.00, also maintaining a “neutral” rating.

Strong Q3 Earnings Report

Terex reported its earnings results on October 30, 2023. The company achieved earnings per share (EPS) of $1.50, surpassing analysts’ expectations of $1.22 by $0.28. The firm noted a return on equity of 15.93% and a net margin of 2.92%. Terex generated revenue of $1.39 billion during the quarter, slightly below the forecast of $1.41 billion, yet marking a 14.4% increase compared to the same period last year. For fiscal year 2025, the company has projected EPS guidance between $4.70 and $5.10.

Recent Insider Activity and Institutional Investments

In recent insider activity, Director Andra Rush purchased 2,120 shares of Terex stock on October 31, 2023, for an average price of $46.59 per share, totaling approximately $98,770.80. Following this transaction, Rush’s ownership in the company increased by 9.10%, bringing her total holdings to 25,428 shares, valued at around $1,184,690.52. Corporate insiders now own 1.90% of Terex’s stock.

Several institutional investors have also recently adjusted their positions in Terex. Millennium Management LLC significantly increased its holdings by 1,086.3% during the first quarter, now owning 256,054 shares worth approximately $9.67 million. Jones Financial Companies Lllp raised its position by 427.2%, acquiring 3,506 shares valued at $132,000. Additionally, Goldman Sachs Group Inc. increased its stake by 3.8%, now holding 1,092,189 shares valued at about $41.26 million.

As of now, institutional investors and hedge funds control 92.88% of Terex’s stock.

Terex Corporation, headquartered in Westport, Connecticut, is a global manufacturer of lifting and material-handling equipment, catering to various industries including construction, energy, and logistics. The company, established in 1933, has expanded through strategic acquisitions and organic growth. Its product offerings include aerial work platforms, cranes, and cargo handling equipment, marketed under reputable brands such as Genie®, Terex®, and Demag®.