Ternium (NYSE:TX) Downgraded to “Buy” Rating by Wall Street Zen

Ternium (NYSE:TX) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

Several other research firms have also commented on TX. Bradesco Corretora raised shares of Ternium to an “outperform” rating and set a $62.00 target price on the stock in a report on Tuesday, May 19th. Weiss Ratings reissued a “buy (b-)” rating on shares of Ternium in a research note on Wednesday, May 20th. UBS Group upped their price target 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. Zacks Research raised Ternium from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 16th. Finally, Bank of America upgraded Ternium from a “neutral” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Monday, April 13th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Ternium has an average rating of “Moderate Buy” and a consensus target price of $46.35.

Ternium Stock Down 2.3%

Shares of TX opened at $44.34 on Friday. The firm has a market cap of $8.89 billion, a P/E ratio of 15.24, a P/E/G ratio of 0.17 and a beta of 1.28. The stock has a 50 day simple moving average of $46.04 and a two-hundred day simple moving average of $42.59. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.63 and a quick ratio of 1.53. Ternium has a 1 year low of $29.73 and a 1 year high of $51.73.

Ternium (NYSE:TX) last issued its quarterly earnings results on Tuesday, March 31st. The basic materials company reported $1.10 EPS for the quarter. The business had revenue of $3.93 billion for the quarter. Ternium had a net margin of 3.66% and a return on equity of 3.70%. On average, analysts forecast that Ternium will post 5.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ternium

Several institutional investors and hedge funds have recently bought and sold shares of the business. Schroder Investment Management Group lifted its position in shares of Ternium by 4.7% in the 3rd quarter. Schroder Investment Management Group now owns 2,279,273 shares of the basic materials company’s stock worth $79,159,000 after purchasing an additional 101,748 shares during the period. Prudential PLC increased its position in shares of Ternium by 5.5% during the third quarter. Prudential PLC now owns 717,593 shares of the basic materials company’s stock valued at $24,922,000 after buying an additional 37,408 shares during the period. Deprince Race & Zollo Inc. raised its stake in Ternium by 17.3% in the fourth quarter. Deprince Race & Zollo Inc. now owns 118,482 shares of the basic materials company’s stock worth $4,525,000 after buying an additional 17,461 shares in the last quarter. Donald Smith & CO. Inc. lifted its holdings in Ternium by 1.8% in the fourth quarter. Donald Smith & CO. Inc. now owns 3,808,645 shares of the basic materials company’s stock worth $145,452,000 after buying an additional 66,062 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Ternium in the 4th quarter worth approximately $736,000. Hedge funds and other institutional investors 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.