Terex (NYSE:TEX) Stock Crosses Above 50-Day Moving Average – Here’s Why

Shares of Terex Corporation (NYSE:TEX) passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $57.04 and traded as high as $59.44. Terex shares last traded at $57.5710, with a volume of 1,768,518 shares.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Citigroup decreased their price objective on shares of Terex from $80.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, October 12th. Wall Street Zen lowered Terex from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. JPMorgan Chase & Co. cut their price target on Terex from $68.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, October 8th. Morgan Stanley cut their price target on Terex from $86.00 to $84.00 and set an “overweight” rating on the stock in a research note on Thursday, October 29th. Finally, Barclays increased their price target on Terex from $65.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $74.73.

Terex Stock Up 2.5%

The company has a market capitalization of $6.58 billion, a price-to-earnings ratio of 29.08, a PEG ratio of 0.98 and a beta of 1.47. The stock’s fifty day simple moving average is $57.04 and its two-hundred day simple moving average is $61.86. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.76 and a quick ratio of 0.93.

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

Terex Dividend Announcement

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

Hedge Funds Weigh In On Terex

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Heritage Family Offices LLP bought a new position in Terex in the 3rd quarter valued at about $48,000. Kestra Advisory Services LLC increased its stake in Terex by 8.8% during the 3rd quarter. Kestra Advisory Services LLC now owns 7,953 shares of the industrial products company’s stock valued at $418,000 after buying an additional 641 shares during the period. One Way Holdings LLC acquired a new position in Terex during the 3rd quarter valued at about $653,000. Greenleaf Trust raised its position in shares of Terex by 5.2% during the 3rd quarter. Greenleaf Trust now owns 4,498 shares of the industrial products company’s stock worth $237,000 after buying an additional 224 shares in the last quarter. Finally, State of Wyoming raised its position in shares of Terex by 121.1% during the 3rd quarter. State of Wyoming now owns 7,434 shares of the industrial products company’s stock worth $391,000 after buying an additional 4,072 shares in the last quarter. 92.88% of the stock is currently owned by institutional investors and hedge funds.

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.