Zacks Investment Research lowered shares of Ternium (NYSE:TX) from a hold rating to a sell rating in a research report sent to investors on Friday morning, Zacks.com reports.
According to Zacks, “Ternium is the leading producer of flat and long steel products of Latin America and consolidates the operations of the steel companies Hylsa in Mexico, Siderar in Argentina and Sidor in Venezuela. It create value with our customers, jointly improving competitiveness and productivity, through a highly efficient industrial and technological base and a global commercial network. “
Several other research analysts have also recently issued reports on the stock. Morgan Stanley cut shares of Ternium from an overweight rating to an equal weight rating and set a $27.00 target price for the company. in a report on Monday, August 12th. Bradesco Corretora reaffirmed a neutral rating and issued a $19.00 target price on shares of Ternium in a report on Tuesday, August 13th. Finally, ValuEngine raised shares of Ternium from a sell rating to a hold rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $26.50.
Ternium stock traded down $0.52 during trading hours on Friday, hitting $18.17. The stock had a trading volume of 10,890 shares, compared to its average volume of 229,178. The company has a quick ratio of 1.16, a current ratio of 2.30 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $3.65 billion, a P/E ratio of 2.37, a price-to-earnings-growth ratio of 0.80 and a beta of 0.66. Ternium has a 12-month low of $16.12 and a 12-month high of $32.99. The stock’s 50-day moving average price is $18.48 and its 200-day moving average price is $22.41.
Ternium (NYSE:TX) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.15. The business had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.69 billion. Ternium had a net margin of 11.17% and a return on equity of 16.62%. On average, research analysts expect that Ternium will post 3.03 EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in the company. Prudential PLC grew its stake in shares of Ternium by 0.5% in the second quarter. Prudential PLC now owns 128,100 shares of the basic materials company’s stock worth $2,873,000 after acquiring an additional 699 shares during the period. Royal Bank of Canada grew its position in Ternium by 10.4% during the second quarter. Royal Bank of Canada now owns 358,478 shares of the basic materials company’s stock valued at $8,041,000 after buying an additional 33,848 shares during the period. Verition Fund Management LLC grew its position in Ternium by 29.5% during the second quarter. Verition Fund Management LLC now owns 14,828 shares of the basic materials company’s stock valued at $333,000 after buying an additional 3,380 shares during the period. Amundi Pioneer Asset Management Inc. grew its position in Ternium by 11.4% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 583,019 shares of the basic materials company’s stock valued at $13,078,000 after buying an additional 59,483 shares during the period. Finally, Susquehanna Fundamental Investments LLC grew its position in Ternium by 119.9% during the second quarter. Susquehanna Fundamental Investments LLC now owns 50,800 shares of the basic materials company’s stock valued at $1,139,000 after buying an additional 27,700 shares during the period. Hedge funds and other institutional investors own 18.49% of the company’s stock.
Ternium SA, through its subsidiaries, manufactures and processes various steel products in Mexico, Argentina, Paraguay, Chile, Bolivia, Uruguay, Brazil, the United States, Colombia, Guatemala, Costa Rica, Honduras, El Salvador, and Nicaragua. It operates in two segments, Steel and Mining. The Steel segment offers steel products, including slabs, billets and round bars, hot rolled flat products, merchant bars, reinforcing bars, stirrups and rods, tin plate and galvanized products, tubes, beams, insulated panels, roofing and cladding, roof tiles, steel decks, pre-engineered metal building systems, and pig iron; and sells energy.
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