Ternium (NYSE:TX) Lowered to “Buy” at StockNews.com

Ternium (NYSE:TX) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Monday.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. lifted their target price on shares of Ternium from $48.00 to $51.50 and gave the stock an “overweight” rating in a report on Thursday, March 21st. TheStreet upgraded Ternium from a “c+” rating to a “b-” rating in a report on Friday, January 12th. Finally, The Goldman Sachs Group raised their target price on Ternium from $49.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat, Ternium currently has an average rating of “Buy” and an average target price of $50.83.

Ternium Price Performance

Shares of TX traded down $0.48 during mid-day trading on Monday, hitting $43.10. 231,506 shares of the company traded hands, compared to its average volume of 190,801. The company has a current ratio of 3.32, a quick ratio of 1.98 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $8.64 billion, a price-to-earnings ratio of 12.79 and a beta of 1.69. The business has a 50-day moving average of $41.26 and a 200 day moving average of $39.85. Ternium has a one year low of $35.22 and a one year high of $45.58.

Ternium (NYSE:TX) last announced its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.54. Ternium had a return on equity of 10.21% and a net margin of 3.53%. The firm had revenue of $4.78 billion for the quarter, compared to analyst estimates of $4.77 billion. During the same period last year, the company earned $1.91 EPS. The business’s quarterly revenue was up 31.9% compared to the same quarter last year. As a group, equities analysts expect that Ternium will post 6.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ternium

Several institutional investors and hedge funds have recently modified their holdings of TX. Victory Capital Management Inc. increased its holdings in Ternium by 48.7% during the 3rd quarter. Victory Capital Management Inc. now owns 966,286 shares of the basic materials company’s stock worth $38,555,000 after purchasing an additional 316,432 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Ternium by 20,865.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 220,765 shares of the basic materials company’s stock valued at $9,188,000 after buying an additional 219,712 shares during the last quarter. CWA Asset Management Group LLC lifted its stake in Ternium by 430.7% in the 3rd quarter. CWA Asset Management Group LLC now owns 195,610 shares of the basic materials company’s stock valued at $7,805,000 after acquiring an additional 158,751 shares in the last quarter. Allianz Asset Management GmbH boosted its position in Ternium by 277.7% during the 4th quarter. Allianz Asset Management GmbH now owns 196,082 shares of the basic materials company’s stock worth $8,328,000 after acquiring an additional 144,171 shares during the last quarter. Finally, PointState Capital LP bought a new position in shares of Ternium during the 3rd quarter worth approximately $4,952,000. 11.98% of the stock is currently owned by institutional investors and hedge funds.

Ternium Company Profile

Ternium SA, together with its subsidiaries, manufactures and distributes steel products in Mexico, Southern Region, Brazil, and internationally. It operates through three segments: Steel, Mining, and Usiminas. The Steel segment offers slabs, hot and cold rolled products, coated products, roll formed and tubular products, bars, billets, and other products.