Bank of America Upgrades Ternium (NYSE:TX) to Buy

Ternium (NYSE:TX) was upgraded by stock analysts at Bank of America from a “neutral” rating to a “buy” rating in a note issued to investors on Monday,Finviz reports. The firm currently has a $46.00 price objective on the basic materials company’s stock. Bank of America‘s price target suggests a potential upside of 9.97% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on TX. Wells Fargo & Company cut their price objective on shares of Ternium from $34.00 to $33.00 and set an “underweight” rating for the company in a research report on Thursday, February 19th. Scotiabank reiterated a “sector perform” rating and set a $40.00 target price on shares of Ternium in a research report on Thursday, March 26th. Weiss Ratings upgraded Ternium from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. UBS Group lifted their target price on Ternium from $39.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, April 2nd. Finally, Zacks Research downgraded Ternium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $39.36.

Ternium Stock Up 0.1%

Shares of TX stock opened at $41.83 on Monday. Ternium has a 12 month low of $25.43 and a 12 month high of $45.57. The stock has a market cap of $8.39 billion, a P/E ratio of 19.37 and a beta of 1.27. The company has a current ratio of 2.49, a quick ratio of 1.45 and a debt-to-equity ratio of 0.12. The company has a 50 day simple moving average of $41.22 and a two-hundred day simple moving average of $39.01.

Ternium (NYSE:TX) last issued its quarterly earnings results on Saturday, February 14th. The basic materials company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.15). Ternium had a return on equity of 3.06% and a net margin of 2.72%.The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.81 billion. During the same quarter in the prior year, the business earned ($0.42) EPS. The company’s revenue was down 2.6% compared to the same quarter last year. On average, research analysts expect that Ternium will post 4.37 earnings per share for the current year.

Institutional Investors Weigh In On Ternium

A number of hedge funds have recently made changes to their positions in the company. Empowered Funds LLC lifted its position in shares of Ternium by 10.0% in the fourth quarter. Empowered Funds LLC now owns 95,129 shares of the basic materials company’s stock worth $3,633,000 after buying an additional 8,630 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Ternium in the fourth quarter worth about $331,000. Numerai GP LLC lifted its position in shares of Ternium by 206.4% in the fourth quarter. Numerai GP LLC now owns 40,743 shares of the basic materials company’s stock worth $1,556,000 after buying an additional 27,447 shares in the last quarter. Millennium Management LLC increased its position in Ternium by 386.4% in the fourth quarter. Millennium Management LLC now owns 76,026 shares of the basic materials company’s stock worth $2,903,000 after purchasing an additional 60,397 shares during the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. increased its position in Ternium by 8.5% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 11,220 shares of the basic materials company’s stock worth $430,000 after purchasing an additional 883 shares during the last quarter. 11.98% of the stock is currently owned by hedge funds and other institutional investors.

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.