Ternium (NYSE:TX) Stock Passes Above 200-Day Moving Average – What’s Next?

Ternium S.A. (NYSE:TX) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $35.88 and traded as high as $43.99. Ternium shares last traded at $43.54, with a volume of 276,187 shares changing hands.

Wall Street Analyst Weigh In

TX has been the topic of a number of recent research reports. Zacks Research raised Ternium from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 31st. Hsbc Global Res upgraded shares of Ternium to a “strong-buy” rating in a report on Friday, October 17th. Wall Street Zen lowered shares of Ternium from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Wells Fargo & Company upped their price target on shares of Ternium from $30.00 to $34.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 21st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ternium in a report on Wednesday, January 21st. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.06.

Ternium Price Performance

The company has a quick ratio of 1.42, a current ratio of 2.46 and a debt-to-equity ratio of 0.10. The firm has a market cap of $8.73 billion, a PE ratio of 14.66 and a beta of 1.36. The stock has a 50 day moving average price of $39.14 and a two-hundred day moving average price of $35.88.

Ternium (NYSE:TX) last released its earnings results on Tuesday, October 28th. The basic materials company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.68). Ternium had a return on equity of 1.89% and a net margin of 3.72%.The company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same quarter last year, the business earned $0.16 earnings per share. The firm’s revenue for the quarter was down 11.7% on a year-over-year basis. As a group, equities analysts expect that Ternium S.A. will post 4.37 earnings per share for the current year.

Hedge Funds Weigh In On Ternium

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in Ternium by 31.5% during the 1st quarter. Royal Bank of Canada now owns 26,965 shares of the basic materials company’s stock worth $840,000 after acquiring an additional 6,453 shares during the period. Millennium Management LLC raised its stake in shares of Ternium by 569.4% in the first quarter. Millennium Management LLC now owns 126,827 shares of the basic materials company’s stock worth $3,952,000 after purchasing an additional 107,880 shares during the last quarter. Ninety One UK Ltd raised its stake in shares of Ternium by 5.2% in the second quarter. Ninety One UK Ltd now owns 2,407,110 shares of the basic materials company’s stock worth $72,454,000 after purchasing an additional 118,595 shares during the last quarter. Ninety One North America Inc. lifted its holdings in shares of Ternium by 23.4% during the second quarter. Ninety One North America Inc. now owns 1,023,049 shares of the basic materials company’s stock worth $30,794,000 after purchasing an additional 194,174 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its position in Ternium by 5.2% in the second quarter. Robeco Institutional Asset Management B.V. now owns 403,293 shares of the basic materials company’s stock valued at $12,139,000 after buying an additional 20,000 shares during the last quarter. 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.