Wells Fargo & Company Forecasts Strong Price Appreciation for Ternium (NYSE:TX) Stock

Ternium (NYSE:TX) had its price target lifted by equities research analysts at Wells Fargo & Company from $36.00 to $43.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “underweight” rating on the basic materials company’s stock. Wells Fargo & Company‘s price target suggests a potential downside of 8.30% from the company’s previous close.

Other analysts also recently issued reports about the company. Zacks Research downgraded Ternium from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 29th. The Goldman Sachs Group restated a “buy” rating and issued a $49.00 price target on shares of Ternium in a research note on Friday, April 24th. Scotiabank restated a “sector perform” rating and issued a $40.00 price target on shares of Ternium in a research note on Thursday, March 26th. UBS Group boosted their price target on Ternium from $39.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, April 2nd. Finally, Bank of America upgraded Ternium from a “neutral” rating to a “buy” rating and set a $46.00 price target for the company in a research note on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $41.81.

Ternium Stock Performance

TX opened at $46.89 on Thursday. The business has a fifty day simple moving average of $41.16 and a 200 day simple moving average of $39.96. The company has a market capitalization of $9.40 billion, a PE ratio of 16.11 and a beta of 1.26. Ternium has a 1 year low of $27.12 and a 1 year high of $49.69. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.63 and a quick ratio of 1.45.

Ternium (NYSE:TX) last released its quarterly earnings results on Tuesday, March 31st. The basic materials company reported $1.10 earnings per share (EPS) for the quarter. The business had revenue of $3.93 billion during the quarter. Ternium had a return on equity of 3.70% and a net margin of 3.66%. Research analysts expect that Ternium will post 4.14 EPS for the current year.

Hedge Funds Weigh In On Ternium

A number of institutional investors have recently modified their holdings of the business. Parallel Advisors LLC raised its holdings in shares of Ternium by 101.3% during the 1st quarter. Parallel Advisors LLC now owns 805 shares of the basic materials company’s stock worth $32,000 after buying an additional 405 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Ternium during the 1st quarter worth $772,000. QRG Capital Management Inc. raised its holdings in shares of Ternium by 7.1% during the 1st quarter. QRG Capital Management Inc. now owns 7,549 shares of the basic materials company’s stock worth $303,000 after buying an additional 501 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Ternium during the 1st quarter worth $210,000. Finally, Ritholtz Wealth Management acquired a new position in shares of Ternium during the 1st quarter worth $208,000. 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.