Ternium (NYSE:TX) Sets New 1-Year High – Should You Buy?

Ternium S.A. (NYSE:TX) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $45.32 and last traded at $44.46, with a volume of 72984 shares trading hands. The stock had previously closed at $44.22.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TX shares. HSBC set a $41.00 target price on shares of Ternium and gave the company a “buy” rating in a research note on Friday, October 17th. Zacks Research cut Ternium from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. UBS Group boosted their price target on Ternium from $32.00 to $39.00 and gave the company a “neutral” rating in a research note on Monday, December 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ternium in a research report on Wednesday, January 21st. Finally, Wall Street Zen cut Ternium from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $36.06.

Ternium Stock Performance

The stock has a 50-day moving average of $40.66 and a 200 day moving average of $36.80. The firm has a market capitalization of $8.89 billion, a P/E ratio of 15.00 and a beta of 1.34. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.42 and a current ratio of 2.46.

Institutional Investors Weigh In On Ternium

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its position in shares of Ternium by 31.5% during the first quarter. Royal Bank of Canada now owns 26,965 shares of the basic materials company’s stock worth $840,000 after purchasing an additional 6,453 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Ternium by 569.4% in the first quarter. Millennium Management LLC now owns 126,827 shares of the basic materials company’s stock worth $3,952,000 after acquiring an additional 107,880 shares in the last quarter. Aberdeen Group plc bought a new position in shares of Ternium during the 2nd quarter valued at about $258,000. Hantz Financial Services Inc. grew its position in shares of Ternium by 1,361.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 6,998 shares of the basic materials company’s stock valued at $211,000 after purchasing an additional 6,519 shares during the period. Finally, Empirical Finance LLC bought a new stake in Ternium during the 2nd quarter worth approximately $1,849,000. 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.