Scotiabank Reiterates Sector Perform Rating for Ternium (NYSE:TX)

Ternium (NYSE:TX)‘s stock had its “sector perform” rating reiterated by research analysts at Scotiabank in a research report issued on Thursday, Marketbeat Ratings reports. They presently have a $40.00 price target on the basic materials company’s stock. Scotiabank’s target price indicates a potential upside of 3.34% from the company’s current price.

A number of other equities research analysts also recently issued reports on the company. Weiss Ratings raised Ternium from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Wells Fargo & Company cut their target price on Ternium from $34.00 to $33.00 and set an “underweight” rating for the company in a research report on Thursday, February 19th. Zacks Research lowered Ternium from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. Finally, UBS Group raised their price target on Ternium from $32.00 to $39.00 and gave the stock a “neutral” rating in a research report on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $35.94.

Ternium Stock Performance

NYSE TX opened at $38.71 on Thursday. The firm has a 50-day moving average price of $41.74 and a two-hundred day moving average price of $38.56. Ternium has a 12-month low of $24.00 and a 12-month high of $45.57. The company has a market capitalization of $7.76 billion, a P/E ratio of 17.92 and a beta of 1.32. The company has a quick ratio of 1.45, a current ratio of 2.49 and a debt-to-equity ratio of 0.12.

Ternium (NYSE:TX) last announced its earnings results on Saturday, February 14th. The basic materials company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.15). Ternium had a return on equity of 3.06% and a net margin of 2.72%.The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.81 billion. During the same period in the prior year, the business posted ($0.42) earnings per share. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. Analysts anticipate that Ternium will post 4.37 earnings per share for the current year.

Institutional Investors Weigh In On Ternium

A number of large investors have recently modified their holdings of the business. Empowered Funds LLC boosted its holdings in shares of Ternium by 10.0% in the 4th quarter. Empowered Funds LLC now owns 95,129 shares of the basic materials company’s stock valued at $3,633,000 after purchasing an additional 8,630 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Ternium during the 4th quarter worth $331,000. Numerai GP LLC lifted its position in shares of Ternium by 206.4% during the 4th quarter. Numerai GP LLC now owns 40,743 shares of the basic materials company’s stock worth $1,556,000 after buying an additional 27,447 shares during the last quarter. Millennium Management LLC lifted its position in shares of Ternium by 386.4% during the 4th quarter. Millennium Management LLC now owns 76,026 shares of the basic materials company’s stock worth $2,903,000 after buying an additional 60,397 shares during the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in Ternium by 8.5% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 11,220 shares of the basic materials company’s stock valued at $430,000 after buying an additional 883 shares in the last quarter. Institutional investors and hedge funds own 11.98% of the company’s stock.

About Ternium

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.