Ternium (NYSE:TX) Sets New 1-Year High – Here’s Why

Ternium S.A. (NYSE:TX) hit a new 52-week high during trading on Monday. The stock traded as high as $59.32 and last traded at $58.07, with a volume of 128764 shares. The stock had previously closed at $56.61.

Analyst Upgrades and Downgrades

TX has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their target price on Ternium from $52.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday. JPMorgan Chase & Co. raised their price objective on shares of Ternium from $60.50 to $67.50 and gave the company an “overweight” rating in a research report on Friday, September 4th. Weiss Ratings raised shares of Ternium from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, September 10th. UBS Group upped their target price on shares of Ternium from $56.00 to $59.00 and gave the stock a “neutral” rating in a report on Thursday, August 27th. Finally, HSBC reiterated a “hold” rating and issued a $55.00 target price (up from $53.00) on shares of Ternium in a research note on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Ternium presently has an average rating of “Moderate Buy” and an average target price of $55.72.

Ternium Price Performance

The business has a 50 day simple moving average of $55.08 and a two-hundred day simple moving average of $48.13. The firm has a market capitalization of $11.42 billion, a P/E ratio of 16.01, a price-to-earnings-growth ratio of 0.17 and a beta of 1.17. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.43 and a current ratio of 2.58.

Ternium (NYSE:TX) last issued its quarterly earnings results on Tuesday, June 30th. The basic materials company reported $1.80 earnings per share (EPS) for the quarter. Ternium had a return on equity of 4.26% and a net margin of 4.37%.The firm had revenue of $4.34 billion during the quarter. On average, sell-side analysts expect that Ternium S.A. will post 6.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Ternium

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC increased its position in Ternium by 18.0% during the 2nd quarter. GAMMA Investing LLC now owns 2,166 shares of the basic materials company’s stock valued at $92,000 after buying an additional 331 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Ternium by 101.2% in the first quarter. Parallel Advisors LLC now owns 805 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 405 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in Ternium by 7.1% in the first quarter. QRG Capital Management Inc. now owns 7,549 shares of the basic materials company’s stock worth $303,000 after acquiring an additional 501 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Ternium by 3.6% in the first quarter. Royal Bank of Canada now owns 28,040 shares of the basic materials company’s stock worth $1,125,000 after acquiring an additional 968 shares during the last quarter. Finally, Oldfield Partners LLP grew its stake in shares of Ternium by 11.3% in the second quarter. Oldfield Partners LLP now owns 26,161 shares of the basic materials company’s stock worth $1,117,000 after acquiring an additional 2,666 shares during the last quarter. 11.98% of the stock is currently owned by institutional investors.

About Ternium

Ternium SA (NYSE: TX) is a steel producer serving customers primarily in the Americas. The company manufactures a broad range of steel products, including flat steel, long steel, slabs, billets, galvanized and pre-painted steel, and other value-added products used in construction, automotive manufacturing, appliances, energy, machinery, and other industrial applications.

Ternium operates an integrated steelmaking and processing network with production and distribution activities in countries including Mexico, Brazil, Argentina, Colombia, and the United States.