Ternium (TX) Stock Rating Upgraded by Zacks Investment Research
Ternium (NYSE:TX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday. The brokerage presently has a $35.00 target price on the basic materials company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 4.04% from the company’s previous close.
According to Zacks, “Ternium is the leading producer of flat and long steel products of Latin America and consolidates the operations of the steel companies Hylsa in Mexico, Siderar in Argentina and Sidor in Venezuela. It create value with our customers, jointly improving competitiveness and productivity, through a highly efficient industrial and technological base and a global commercial network. “
A number of other brokerages have also recently commented on TX. Santander raised Ternium from a “hold” rating to a “buy” rating in a report on Monday, December 18th. Morgan Stanley raised Ternium from an “equal weight” rating to an “overweight” rating in a report on Wednesday, December 6th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $31.10.
Ternium (NYSE:TX) last announced its earnings results on Tuesday, October 31st. The basic materials company reported $0.99 EPS for the quarter, topping the Zacks’ 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. Ternium’s revenue for the quarter was up 33.6% compared to the same quarter last year. equities research analysts anticipate that Ternium will post 3.98 EPS for the current fiscal year.
A number of large investors have recently bought and sold shares of the business. Oldfield Partners LLP raised its holdings in Ternium by 1.4% during the third quarter. Oldfield Partners LLP now owns 1,655,954 shares of the basic materials company’s stock valued at $51,219,000 after acquiring an additional 22,400 shares during the period. Investec Asset Management LTD raised its holdings in Ternium by 26.7% during the third quarter. Investec Asset Management LTD now owns 1,345,084 shares of the basic materials company’s stock valued at $41,603,000 after acquiring an additional 283,614 shares during the period. Contrarian Capital Management L.L.C. raised its holdings in Ternium by 3.5% during the third quarter. Contrarian Capital Management L.L.C. now owns 1,172,400 shares of the basic materials company’s stock valued at $36,262,000 after acquiring an additional 40,167 shares during the period. JPMorgan Chase & Co. raised its holdings in Ternium by 174.2% during the second quarter. JPMorgan Chase & Co. now owns 906,696 shares of the basic materials company’s stock valued at $25,469,000 after acquiring an additional 576,021 shares during the period. Finally, TT International raised its holdings in Ternium by 50.9% during the second quarter. TT International now owns 869,423 shares of the basic materials company’s stock valued at $24,422,000 after acquiring an additional 293,260 shares during the period. 19.26% of the stock is currently owned by institutional investors and hedge funds.
TRADEMARK VIOLATION WARNING: “Ternium (TX) Stock Rating Upgraded by Zacks Investment Research” was reported by Watch List News and is owned by of Watch List News. If you are reading this news story on another publication, it was copied illegally and republished in violation of international copyright law. The original version of this news story can be viewed at https://www.watchlistnews.com/ternium-tx-stock-rating-upgraded-by-zacks-investment-research/1799020.html.
Ternium Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ternium Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ternium and related companies with MarketBeat.com's FREE daily email newsletter.