Ternium (NYSE:TX) Upgraded to “Strong-Buy” at Zacks Research

Ternium (NYSE:TX) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Several other brokerages have also issued reports on TX. JPMorgan Chase & Co. increased their price target on shares of Ternium from $39.00 to $40.50 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ternium in a research note on Wednesday, October 8th. UBS Group boosted their price target on Ternium from $32.00 to $39.00 and gave the stock a “neutral” rating in a research report on Monday, December 15th. Wall Street Zen downgraded Ternium from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Hsbc Global Res upgraded Ternium to a “strong-buy” rating in a research note on Friday, October 17th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.56.

Ternium Stock Up 2.5%

Shares of NYSE:TX opened at $39.15 on Wednesday. The firm has a market capitalization of $7.85 billion, a P/E ratio of 13.18 and a beta of 1.36. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.42 and a current ratio of 2.46. The stock has a 50 day moving average price of $37.13 and a 200-day moving average price of $34.50. Ternium has a 52-week low of $24.00 and a 52-week high of $39.33.

Ternium (NYSE:TX) last released its quarterly earnings results on Tuesday, October 28th. The basic materials company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.68). The firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $4.02 billion. Ternium had a net margin of 3.72% and a return on equity of 1.89%. The company’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.16 earnings per share. As a group, equities research analysts anticipate that Ternium will post 4.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Ternium

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC boosted its holdings in shares of Ternium by 40.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,061 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 303 shares during the last quarter. Advisory Services Network LLC bought a new position in Ternium during the third quarter valued at approximately $38,000. JPMorgan Chase & Co. lifted its holdings in shares of Ternium by 142.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,254 shares of the basic materials company’s stock valued at $44,000 after buying an additional 736 shares during the period. Blue Trust Inc. boosted its position in Ternium by 17.5% in the third quarter. Blue Trust Inc. now owns 2,247 shares of the basic materials company’s stock worth $78,000 after purchasing an additional 335 shares during the last quarter. Finally, State of Wyoming bought a new stake in shares of Ternium during the 2nd quarter valued at about $119,000. Hedge funds and other institutional investors 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.