Ternium (NYSE:TX) Sees Strong Trading Volume – Still a Buy?

Ternium S.A. (NYSE:TX) shares saw unusually-high trading volume on Wednesday . Approximately 419,150 shares changed hands during mid-day trading, an increase of 28% from the previous session’s volume of 327,759 shares.The stock last traded at $46.03 and had previously closed at $44.84.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Bradesco Corretora raised shares of Ternium to an “outperform” rating and set a $62.00 price objective on the stock in a research report on Tuesday, May 19th. Wells Fargo & Company raised shares of Ternium from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $43.00 to $45.00 in a research report on Thursday, July 9th. Weiss Ratings restated a “buy (b-)” rating on shares of Ternium in a research note on Wednesday, May 20th. UBS Group raised their price target on shares of Ternium from $39.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, April 2nd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Ternium in a research note on Friday, May 22nd. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Ternium has a consensus rating of “Moderate Buy” and a consensus target price of $47.94.

Ternium Trading Up 1.8%

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 moving average is $45.91 and its 200 day moving average is $43.39. The stock has a market capitalization of $9.44 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 0.17 and a beta of 1.29.

Ternium (NYSE:TX) last posted its quarterly earnings results on Tuesday, March 31st. The basic materials company reported $1.10 earnings per share (EPS) for the quarter. Ternium had a net margin of 3.66% and a return on equity of 3.70%. The company had revenue of $3.93 billion for the quarter. On average, research analysts forecast that Ternium S.A. will post 5.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Ternium

A number of institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its stake in Ternium by 49.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 704 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 232 shares during the period. Parallel Advisors LLC lifted 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 worth $32,000 after acquiring an additional 405 shares during the period. Atlas Capital Advisors Inc. bought a new stake in shares of Ternium in the 4th quarter worth approximately $36,000. Camelot Portfolios LLC acquired a new stake in shares of Ternium during the 4th quarter worth approximately $38,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Ternium during the 3rd quarter worth approximately $38,000. 11.98% of the stock is owned by institutional investors and hedge funds.

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.