Ternium S.A. (NYSE:TX) Stock Rating Reaffirmed by J P Morgan Chase & Co
Ternium S.A. (NYSE:TX)‘s stock had its “overweight” rating restated by equities research analysts at J P Morgan Chase & Co in a report issued on Friday. They currently have a $35.00 target price on the basic materials company’s stock, up from their previous target price of $33.00. J P Morgan Chase & Co’s target price points to a potential upside of 16.28% from the company’s current price.
Other research analysts also recently issued research reports about the company. Zacks Investment Research upgraded Ternium from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Saturday, June 17th. BidaskClub upgraded Ternium from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Ternium has a consensus rating of “Buy” and an average target price of $30.50.
Shares of Ternium (NYSE TX) traded down 0.10% during trading on Friday, reaching $30.10. The company’s stock had a trading volume of 319,264 shares. Ternium has a 12-month low of $18.29 and a 12-month high of $30.43. The stock’s 50-day moving average is $27.03 and its 200-day moving average is $25.54. The stock has a market cap of $5.91 billion, a P/E ratio of 7.75 and a beta of 1.06.
Ternium (NYSE:TX) last released its quarterly earnings data on Tuesday, April 25th. The basic materials company reported $1.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.52. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.97 billion. Ternium had a return on equity of 15.33% and a net margin of 10.37%. The company’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.48 earnings per share. Equities research analysts anticipate that Ternium will post $3.25 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in TX. Cypress Capital Management LLC WY increased its position in shares of Ternium by 357.3% in the second quarter. Cypress Capital Management LLC WY now owns 5,030 shares of the basic materials company’s stock worth $141,000 after buying an additional 3,930 shares in the last quarter. Atria Investments LLC acquired a new position in shares of Ternium during the second quarter worth about $206,000. Goldman Sachs Group Inc. increased its position in shares of Ternium by 13.3% in the first quarter. Goldman Sachs Group Inc. now owns 387,485 shares of the basic materials company’s stock worth $10,121,000 after buying an additional 45,585 shares in the last quarter. Caxton Associates LP acquired a new position in shares of Ternium during the first quarter worth about $326,000. Finally, Bank of America Corp DE increased its position in shares of Ternium by 3.8% in the first quarter. Bank of America Corp DE now owns 156,587 shares of the basic materials company’s stock worth $4,089,000 after buying an additional 5,688 shares in the last quarter. Institutional investors own 22.43% of the company’s stock.
Ternium Company Profile
Ternium SA is a producer of steel products. The Company produces finished and semi-finished steel products and iron ore, which are sold either directly to steel manufacturers, steel processors or end users. The Company operates through two segments: Steel and Mining. The Steel segment includes the sales of steel products and the Mining segment includes the sales of iron ore products, which are primarily inter-company.
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