Wells Fargo & Company Increases Ternium (NYSE:TX) Price Target to $34.00

Ternium (NYSE:TX) had its price objective boosted by stock analysts at Wells Fargo & Company from $30.00 to $34.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “underweight” rating on the basic materials company’s stock. Wells Fargo & Company‘s target price indicates a potential downside of 21.66% from the company’s previous close.

Several other brokerages have also commented on TX. Hsbc Global Res upgraded shares of Ternium to a “strong-buy” rating in a report on Friday, October 17th. Zacks Research upgraded shares of Ternium from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 31st. HSBC set a $41.00 price target on shares of Ternium and gave the stock a “buy” rating in a research note on Friday, October 17th. Weiss Ratings restated a “hold (c)” rating on shares of Ternium in a report on Wednesday, October 8th. Finally, UBS Group upped their target price on Ternium from $32.00 to $39.00 and gave the stock a “neutral” rating in a report on Monday, December 15th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $36.06.

Ternium Trading Up 0.1%

NYSE TX opened at $43.40 on Wednesday. The stock has a market cap of $8.70 billion, a P/E ratio of 14.61 and a beta of 1.36. Ternium has a fifty-two week low of $24.00 and a fifty-two week high of $44.08. The stock has a 50 day simple moving average of $38.56 and a two-hundred day simple moving average of $35.55. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.42 and a current ratio of 2.46.

Ternium (NYSE:TX) last posted its earnings results on Tuesday, October 28th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.68). Ternium had a net margin of 3.72% and a return on equity of 1.89%. The business had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same period last year, the firm posted $0.16 earnings per share. Ternium’s quarterly revenue was down 11.7% on a year-over-year basis. On average, analysts forecast that Ternium will post 4.37 earnings per share for the current year.

Institutional Trading of Ternium

A number of hedge funds have recently made changes to their positions in TX. GAMMA Investing LLC increased its position in Ternium by 40.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,061 shares of the basic materials company’s stock valued at $37,000 after buying an additional 303 shares in the last quarter. Advisory Services Network LLC bought a new stake in Ternium in the third quarter worth $38,000. JPMorgan Chase & Co. grew its stake in shares of Ternium by 142.1% in the third quarter. JPMorgan Chase & Co. now owns 1,254 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 736 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Ternium by 17.5% during the third quarter. Blue Trust Inc. now owns 2,247 shares of the basic materials company’s stock valued at $78,000 after acquiring an additional 335 shares in the last quarter. Finally, State of Wyoming bought a new position in shares of Ternium during the second quarter valued at $119,000. 11.98% of the stock is owned by institutional investors.

Ternium Company Profile

Ternium SA (NYSE:TX) is a leading vertically integrated steel producer with operations across the Americas. The company manufactures a broad range of flat and long steel products, including hot‐rolled and cold‐rolled coils, galvanized and tin-coated sheets, plates, rebars, wire rods, bars and structural sections. These products serve diverse end markets such as automotive, construction, energy, industrial machinery, home appliances and packaging.

Established in 2005 through the consolidation of steel assets in Argentina and Mexico, Ternium has grown to operate major production facilities in Argentina, Brazil, Mexico, Colombia, Central America and the United States.