Ternium (NYSE:TX) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report released on Wednesday, MarketBeat Ratings reports.

Separately, Zacks Investment Research downgraded shares of Ternium from a “hold” rating to a “strong sell” rating in a report on Saturday, November 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $30.50.

Shares of Ternium (TX) traded up $0.72 during mid-day trading on Wednesday, reaching $28.71. 374,493 shares of the company’s stock traded hands, compared to its average volume of 411,849. The company has a quick ratio of 0.68, a current ratio of 1.52 and a debt-to-equity ratio of 0.32. The firm has a market cap of $5,767.64, a P/E ratio of 6.87 and a beta of 1.09. Ternium has a 52-week low of $22.17 and a 52-week high of $33.39.

Ternium (NYSE:TX) last announced its earnings results on Tuesday, October 31st. The basic materials company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.66 by $0.33. The firm had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.38 billion. Ternium had a net margin of 9.86% and a return on equity of 15.49%. The business’s quarterly revenue was up 33.6% on a year-over-year basis. During the same period last year, the company posted $1.17 EPS. sell-side analysts forecast that Ternium will post 3.98 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisor Group Inc. raised its holdings in shares of Ternium by 141.1% in the second quarter. Advisor Group Inc. now owns 4,067 shares of the basic materials company’s stock valued at $114,000 after purchasing an additional 2,380 shares during the last quarter. Advisors Preferred LLC acquired a new stake in shares of Ternium in the second quarter valued at approximately $153,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Ternium in the second quarter valued at approximately $204,000. Stevens Capital Management LP acquired a new stake in shares of Ternium in the third quarter valued at approximately $238,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Ternium in the third quarter valued at approximately $271,000. Institutional investors own 19.27% of the company’s stock.

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About Ternium

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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