Ternium (NYSE:TX) Stock Passes Above 200-Day Moving Average – Here’s Why

Ternium S.A. (NYSE:TX) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $43.23 and traded as high as $45.29. Ternium shares last traded at $44.45, with a volume of 357,715 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Zacks Research upgraded Ternium from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 16th. UBS Group increased their price objective on shares of Ternium from $39.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, April 2nd. Bank of America upgraded shares of Ternium from a “neutral” rating to a “buy” rating and set a $46.00 target price for the company in a report on Monday, April 13th. Wall Street Zen raised shares of Ternium from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 12th. Finally, Wells Fargo & Company raised shares of Ternium from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $43.00 to $45.00 in a research note on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Ternium presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.94.

Ternium Stock Performance

The company has a market capitalization of $9.28 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 0.16 and a beta of 1.29. The stock’s fifty day simple moving average is $45.84 and its 200-day simple moving average is $43.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.53 and a current ratio of 2.63.

Ternium (NYSE:TX) last issued its quarterly earnings results on Tuesday, March 31st. The basic materials company reported $1.10 EPS for the quarter. The business had revenue of $3.93 billion during the quarter. Ternium had a net margin of 3.66% and a return on equity of 3.70%. As a group, equities analysts predict that Ternium S.A. will post 5.71 earnings per share for the current year.

Institutional Investors Weigh In On Ternium

Hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its position in shares of Ternium by 49.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 704 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 232 shares during the period. Parallel Advisors LLC grew its holdings in Ternium by 101.2% in the 1st quarter. Parallel Advisors LLC now owns 805 shares of the basic materials company’s stock valued at $32,000 after buying an additional 405 shares during the period. Atlas Capital Advisors Inc. purchased a new position in shares of Ternium during the 4th quarter worth about $36,000. Camelot Portfolios LLC purchased a new stake in Ternium in the fourth quarter valued at approximately $38,000. Finally, Advisory Services Network LLC purchased a new stake in Ternium in the third quarter valued at approximately $38,000. Institutional investors and hedge funds own 11.98% of the company’s stock.

Ternium Company Profile

Ternium SA (NYSE:TX) is a leading vertically integrated steel producer with operations across the Americas. The company manufactures a broad range of flat and long steel products, including hot‐rolled and cold‐rolled coils, galvanized and tin-coated sheets, plates, rebars, wire rods, bars and structural sections. These products serve diverse end markets such as automotive, construction, energy, industrial machinery, home appliances and packaging.

Established in 2005 through the consolidation of steel assets in Argentina and Mexico, Ternium has grown to operate major production facilities in Argentina, Brazil, Mexico, Colombia, Central America and the United States.