Zacks Investment Research Upgrades Ternium (TX) to “Buy”

Ternium (NYSE:TX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Saturday. The firm presently has a $35.00 price target on the basic materials company’s stock. Zacks Investment Research‘s price target points to a potential upside of 4.26% from the company’s previous close.

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. “

Other equities analysts also recently issued research reports about the company. Santander raised Ternium from a “hold” rating to a “buy” rating in a research report on Monday, December 18th. Morgan Stanley raised Ternium from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, December 6th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $31.10.

Ternium (NYSE TX) opened at $33.57 on Friday. The company has a market capitalization of $6,727.91, a price-to-earnings ratio of 8.01 and a beta of 1.09. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.52 and a quick ratio of 0.68. Ternium has a 12-month low of $22.17 and a 12-month high of $34.03.

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

Hedge funds have recently modified their holdings of the business. Van ECK Associates Corp lifted its holdings in shares of Ternium by 8.3% in the 3rd quarter. Van ECK Associates Corp now owns 496,360 shares of the basic materials company’s stock worth $15,352,000 after buying an additional 38,109 shares during the period. Stifel Financial Corp purchased a new stake in shares of Ternium in the 3rd quarter worth $652,000. Contrarian Capital Management L.L.C. lifted its holdings in shares of Ternium by 3.5% in the 3rd quarter. Contrarian Capital Management L.L.C. now owns 1,172,400 shares of the basic materials company’s stock worth $36,262,000 after buying an additional 40,167 shares during the period. Sei Investments Co. lifted its holdings in shares of Ternium by 57.9% in the 3rd quarter. Sei Investments Co. now owns 23,211 shares of the basic materials company’s stock worth $718,000 after buying an additional 8,513 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Ternium by 174.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 906,696 shares of the basic materials company’s stock worth $25,469,000 after buying an additional 576,021 shares during the period. Institutional investors and hedge funds own 19.26% 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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