Ternium (NYSE:TX) Reaches New 12-Month High – What’s Next?

Ternium S.A. (NYSE:TX)’s stock price reached a new 52-week high during mid-day trading on Tuesday. The stock traded as high as $59.56 and last traded at $60.0640, with a volume of 87,842 shares trading hands. The stock had previously closed at $58.16.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on TX shares. UBS Group upped their target price on Ternium from $56.00 to $59.00 and gave the stock a “neutral” rating in a research note on Thursday, August 27th. JPMorgan Chase & Co. lifted their target price on Ternium from $60.50 to $67.50 and gave the stock an “overweight” rating in a research report on Friday, September 4th. Wall Street Zen raised Ternium from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 12th. Zacks Research cut shares of Ternium from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 13th. Finally, Wells Fargo & Company upped their price target on shares of Ternium from $52.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 6th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.72.

Ternium Stock Up 3.5%

The company has a quick ratio of 1.43, a current ratio of 2.58 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average of $56.23 and a two-hundred day moving average of $49.33. The stock has a market capitalization of $12.06 billion, a price-to-earnings ratio of 16.84, a price-to-earnings-growth ratio of 0.17 and a beta of 1.17.

Ternium (NYSE:TX) last posted its quarterly earnings results on Tuesday, June 30th. The basic materials company reported $1.80 earnings per share (EPS) for the quarter. Ternium had a net margin of 4.37% and a return on equity of 4.26%. The company had revenue of $4.34 billion for the quarter. As a group, sell-side analysts anticipate that Ternium S.A. will post 6.49 earnings per share for the current year.

Hedge Funds Weigh In On Ternium

Institutional investors and hedge funds have recently modified their holdings of the business. Donald Smith & CO. Inc. purchased a new stake in Ternium in the 2nd quarter valued at about $134,131,000. Engineers Gate Manager LP lifted its holdings in Ternium by 496.8% in the second quarter. Engineers Gate Manager LP now owns 56,337 shares of the basic materials company’s stock worth $2,406,000 after buying an additional 46,897 shares during the period. Wellington Management Group LLP bought a new position in shares of Ternium in the second quarter worth approximately $5,704,000. Militia Capital Management LLC bought a new position in Ternium in the first quarter valued at about $1,486,000. Finally, Nykredit A S bought a new position in shares of Ternium in the second quarter worth approximately $10,564,000. 11.98% of the stock is currently owned by institutional investors.

Ternium Company Profile

Ternium SA is a steel producer serving customers primarily in the Americas. The company manufactures and distributes a broad range of steel products, including flat steel, long steel, galvanized and pre-painted steel, hot- and cold-rolled products, steel bars, wire rod, and tubular products.

Ternium supplies industries such as construction, automotive, appliance manufacturing, energy, transportation, and agriculture. Its operations include iron ore mining, steelmaking, rolling, coating, processing, and distribution, allowing it to offer both commodity and higher-value-added steel products.

The company has industrial and commercial operations across Latin America, including Mexico, Brazil, Argentina, Colombia, and other markets in the region, as well as a presence in the United States and Central America.