Ternium (TX) Rating Increased to Buy at Santander
Ternium (NYSE:TX) was upgraded by analysts at Santander from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.
Other equities analysts have also recently issued reports about the company. Zacks Investment Research cut Ternium from a “hold” rating to a “strong sell” rating in a report on Saturday, November 4th. Morgan Stanley upgraded Ternium from an “equal weight” rating to an “overweight” rating in a report on Wednesday, December 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $30.50.
Shares of Ternium (TX) traded up $0.56 during mid-day trading on Monday, hitting $30.00. The stock had a trading volume of 494,200 shares, compared to its average volume of 409,967. Ternium has a one year low of $22.17 and a one year high of $33.39. The firm has a market cap of $6,014.22, a PE ratio of 7.16 and a beta of 1.09. The company has a current ratio of 1.52, a quick ratio of 0.68 and a debt-to-equity ratio of 0.32.
Ternium (NYSE:TX) last issued its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.33. Ternium had a return on equity of 15.49% and a net margin of 9.86%. The company had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.38 billion. During the same period last year, the firm earned $1.17 EPS. The firm’s revenue for the quarter was up 33.6% on a year-over-year basis. sell-side analysts predict that Ternium will post 3.98 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. GSA Capital Partners LLP acquired a new position in shares of Ternium in the 3rd quarter worth $541,000. California Public Employees Retirement System boosted its position in shares of Ternium by 58.3% in the third quarter. California Public Employees Retirement System now owns 325,519 shares of the basic materials company’s stock worth $10,068,000 after buying an additional 119,919 shares during the period. Cubist Systematic Strategies LLC boosted its position in shares of Ternium by 420.0% in the third quarter. Cubist Systematic Strategies LLC now owns 49,392 shares of the basic materials company’s stock worth $1,528,000 after buying an additional 39,894 shares during the period. Contrarian Capital Management L.L.C. boosted its position in shares of Ternium by 3.5% in the third quarter. Contrarian Capital Management L.L.C. now owns 1,172,400 shares of the basic materials company’s stock worth $36,262,000 after buying an additional 40,167 shares during the period. Finally, Allianz Asset Management GmbH boosted its position in shares of Ternium by 28.0% in the third quarter. Allianz Asset Management GmbH now owns 165,870 shares of the basic materials company’s stock worth $5,131,000 after buying an additional 36,308 shares during the period. Institutional investors and hedge funds own 19.27% of the company’s stock.
Ternium SA is a producer of steel products. The Company produces finished and semi-finished steel products and iron ore, which are sold either directly to steel manufacturers, steel processors or end users. The Company operates through two segments: Steel and Mining. The Steel segment includes the sales of steel products and the Mining segment includes the sales of iron ore products, which are primarily inter-company.
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