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.
Shares of Ternium (NYSE TX) traded up $0.07 during trading on Friday, reaching $33.64. The company had a trading volume of 360,966 shares, compared to its average volume of 412,980. Ternium has a one year low of $22.17 and a one year high of $34.03. The company has a market cap of $6,729.91, a PE ratio of 8.03 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 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.
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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.
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