Ternium (NYSE:TX) Shares Cross Above 200 Day Moving Average – Here’s Why

Ternium S.A. (NYSE:TX) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $42.58 and traded as high as $45.88. Ternium shares last traded at $45.4050, with a volume of 146,094 shares trading hands.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TX shares. Itau BBA Securities upgraded shares of Ternium from a “market perform” rating to an “outperform” rating and set a $59.00 price target on the stock in a report on Sunday, May 24th. Zacks Research upgraded shares of Ternium from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 16th. Bradesco Corretora upgraded shares of Ternium to an “outperform” rating and set a $62.00 price objective for the company in a research note on Tuesday, May 19th. UBS Group increased their target price on shares of Ternium from $39.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, April 2nd. Finally, Bank of America upgraded shares of Ternium from a “neutral” rating to a “buy” rating and set a $46.00 target price for the company in a research note on Monday, April 13th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $46.35.

Ternium Trading Up 1.0%

The company has a 50 day moving average of $46.00 and a two-hundred day moving average of $42.58. The stock has a market capitalization of $9.10 billion, a PE ratio of 15.60, a P/E/G ratio of 0.16 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.53 and a current ratio of 2.63.

Ternium (NYSE:TX) last released its quarterly earnings results on Tuesday, March 31st. The basic materials company reported $1.10 EPS for the quarter. The company had revenue of $3.93 billion during the quarter. Ternium had a return on equity of 3.70% and a net margin of 3.66%. Sell-side analysts predict that Ternium S.A. will post 5.16 EPS for the current year.

Institutional Trading of Ternium

A number of institutional investors have recently bought and sold shares of TX. EverSource Wealth Advisors LLC grew its position in Ternium by 49.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 704 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 232 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of Ternium by 101.2% in the first quarter. Parallel Advisors LLC now owns 805 shares of the basic materials company’s stock worth $32,000 after buying an additional 405 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new position in shares of Ternium in the fourth quarter worth $36,000. Camelot Portfolios LLC acquired a new stake in shares of Ternium during the fourth quarter worth $38,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Ternium during the third quarter worth $38,000. 11.98% of the stock is currently owned by institutional investors and hedge funds.

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.