Ternium (NYSE:TX) Upgraded to “Strong-Buy” at Wall Street Zen

Ternium (NYSE:TX) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Sunday.

Several other research analysts also recently issued reports on TX. UBS Group upped their price target on shares of Ternium from $39.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, April 2nd. Wells Fargo & Company raised Ternium from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $43.00 to $45.00 in a report on Thursday. The Goldman Sachs Group restated a “buy” rating and set a $57.00 price objective on shares of Ternium in a research report on Friday, May 22nd. Bradesco Corretora raised Ternium to an “outperform” rating and set a $62.00 target price for the company in a report on Tuesday, May 19th. Finally, Itau BBA Securities upgraded Ternium from a “market perform” rating to an “outperform” rating and set a $59.00 target price for the company in a research report on Sunday, May 24th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $46.55.

Ternium Price Performance

Shares of TX traded up $0.80 during mid-day trading on Friday, reaching $44.22. The company had a trading volume of 480,657 shares, compared to its average volume of 428,057. The company has a market capitalization of $8.87 billion, a price-to-earnings ratio of 15.20, a P/E/G ratio of 0.14 and a beta of 1.29. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.53 and a current ratio of 2.63. The company’s 50 day simple moving average is $46.01 and its 200 day simple moving average is $42.93. Ternium has a 1-year low of $29.98 and a 1-year high of $51.73.

Ternium (NYSE:TX) last released its quarterly earnings data 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 net margin of 3.66% and a return on equity of 3.70%. Analysts expect that Ternium will post 6.13 EPS for the current year.

Hedge Funds Weigh In On Ternium

A number of hedge funds have recently modified their holdings of TX. EverSource Wealth Advisors LLC increased its holdings in Ternium by 49.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 704 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 232 shares during the period. Parallel Advisors LLC grew its position in shares of Ternium by 101.2% in the 1st quarter. Parallel Advisors LLC now owns 805 shares of the basic materials company’s stock valued at $32,000 after buying an additional 405 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new stake in shares of Ternium in the fourth quarter valued at about $36,000. Camelot Portfolios LLC acquired a new stake in shares of Ternium in the fourth quarter valued at about $38,000. Finally, Advisory Services Network LLC bought a new position in shares of Ternium during the third quarter worth about $38,000. Institutional investors and hedge funds own 11.98% of the company’s stock.

About Ternium

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.