Ternium (NYSE:TX) Cut to “Hold” at Zacks Research

Ternium (NYSE:TX) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

TX has been the subject of several other reports. Bradesco Corretora upgraded shares of Ternium to an “outperform” rating and set a $62.00 price objective for the company in a research report on Tuesday, May 19th. UBS Group boosted their target price on shares of Ternium from $39.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, April 2nd. Wells Fargo & Company raised shares of Ternium from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $43.00 to $45.00 in a research note on Thursday, July 9th. The Goldman Sachs Group restated a “buy” rating and set a $57.00 price target on shares of Ternium in a report on Friday, May 22nd. Finally, Bank of America raised shares of Ternium from a “neutral” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.94.

Ternium Stock Up 0.3%

Shares of TX opened at $49.26 on Thursday. Ternium has a 52-week low of $30.44 and a 52-week high of $51.73. The company has a quick ratio of 1.53, a current ratio of 2.63 and a debt-to-equity ratio of 0.14. The stock has a fifty day simple moving average of $46.45 and a two-hundred day simple moving average of $43.72. The company has a market capitalization of $9.87 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 0.18 and a beta of 1.29.

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

Institutional Investors Weigh In On Ternium

Several institutional investors and hedge funds have recently modified their holdings of TX. Royal Bank of Canada boosted its holdings in Ternium by 31.5% during the 1st quarter. Royal Bank of Canada now owns 26,965 shares of the basic materials company’s stock valued at $840,000 after acquiring an additional 6,453 shares during the period. Millennium Management LLC increased its stake in Ternium by 569.4% during the first quarter. Millennium Management LLC now owns 126,827 shares of the basic materials company’s stock worth $3,952,000 after purchasing an additional 107,880 shares during the period. Invesco Ltd. increased its stake in Ternium by 58.4% during the second quarter. Invesco Ltd. now owns 22,257 shares of the basic materials company’s stock worth $670,000 after purchasing an additional 8,204 shares during the period. Raymond James Financial Inc. purchased a new stake in Ternium during the second quarter worth about $214,000. Finally, Militia Capital Partners LP lifted its position in shares of Ternium by 16.1% during the second quarter. Militia Capital Partners LP now owns 36,084 shares of the basic materials company’s stock worth $1,086,000 after purchasing an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors 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.