Ternium (NYSE:TX) Stock Rating Lowered by StockNews.com

Ternium (NYSE:TX) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Monday.

TX has been the topic of a number of other reports. TheStreet raised shares of Ternium from a “c+” rating to a “b-” rating in a report on Friday, January 12th. JPMorgan Chase & Co. boosted their price objective on shares of Ternium from $48.00 to $51.50 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Finally, The Goldman Sachs Group increased their price objective on Ternium from $49.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $50.83.

Ternium Price Performance

Shares of NYSE TX traded down $0.48 during mid-day trading on Monday, hitting $43.10. 231,506 shares of the stock traded hands, compared to its average volume of 190,801. The company has a market cap of $8.64 billion, a PE ratio of 12.79 and a beta of 1.69. Ternium has a twelve month low of $35.22 and a twelve month high of $45.58. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.32 and a quick ratio of 1.98. The firm has a 50 day simple moving average of $41.26 and a two-hundred day simple moving average of $39.85.

Ternium (NYSE:TX) last posted its earnings results on Wednesday, April 24th. The basic materials company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.30 by $0.54. The firm had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $4.77 billion. Ternium had a return on equity of 10.21% and a net margin of 3.53%. The business’s quarterly revenue was up 31.9% on a year-over-year basis. During the same period last year, the company earned $1.91 earnings per share. As a group, equities research analysts forecast that Ternium will post 6.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Ternium

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Handelsbanken Fonder AB lifted its stake in Ternium by 13.2% in the third quarter. Handelsbanken Fonder AB now owns 29,881 shares of the basic materials company’s stock valued at $1,192,000 after buying an additional 3,481 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of Ternium by 21.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 9,317 shares of the basic materials company’s stock valued at $372,000 after acquiring an additional 1,670 shares during the period. Victory Capital Management Inc. lifted its position in shares of Ternium by 48.7% during the 3rd quarter. Victory Capital Management Inc. now owns 966,286 shares of the basic materials company’s stock valued at $38,555,000 after acquiring an additional 316,432 shares during the period. Capital Wealth Planning LLC boosted its stake in Ternium by 67.2% during the third quarter. Capital Wealth Planning LLC now owns 17,249 shares of the basic materials company’s stock worth $688,000 after acquiring an additional 6,933 shares in the last quarter. Finally, Donoghue Forlines LLC grew its holdings in Ternium by 7.7% in the third quarter. Donoghue Forlines LLC now owns 11,597 shares of the basic materials company’s stock worth $463,000 after purchasing an additional 832 shares during the period. Institutional investors and hedge funds own 11.98% of the company’s stock.

About Ternium

Ternium SA, together with its subsidiaries, manufactures and distributes steel products in Mexico, Southern Region, Brazil, and internationally. It operates through three segments: Steel, Mining, and Usiminas. The Steel segment offers slabs, hot and cold rolled products, coated products, roll formed and tubular products, bars, billets, and other products.