Ternium (NYSE:TX) Shares Cross Above 200-Day Moving Average – Should You Sell?

Ternium S.A. (NYSE:TX)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $41.16 and traded as high as $51.73. Ternium shares last traded at $51.3070, with a volume of 1,286,634 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on TX shares. The Goldman Sachs Group reissued a “buy” rating and set a $57.00 price objective on shares of Ternium in a research report on Friday, May 22nd. Wells Fargo & Company raised their target price on shares of Ternium from $36.00 to $43.00 and gave the stock an “underweight” rating in a research note on Thursday, May 7th. 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. Weiss Ratings restated a “buy (b-)” rating on shares of Ternium in a research note on Wednesday, May 20th. Finally, Itau BBA Securities upgraded shares of Ternium from a “market perform” rating to an “outperform” rating and set a $59.00 target price for the company in a research note on Sunday, May 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $46.35.

Ternium Price Performance

The company has a market cap of $10.29 billion, a price-to-earnings ratio of 17.63 and a beta of 1.28. The company has a current ratio of 2.63, a quick ratio of 1.53 and a debt-to-equity ratio of 0.14. The company’s 50 day moving average price is $43.19 and its 200 day moving average price is $41.16.

Ternium (NYSE:TX) last released its earnings results on Tuesday, March 31st. The basic materials company reported $1.10 EPS for the quarter. Ternium had a net margin of 3.66% and a return on equity of 3.70%. The company had revenue of $3.93 billion during the quarter. Equities research analysts forecast that Ternium S.A. will post 4.04 earnings per share for the current year.

Institutional Trading of Ternium

Several hedge funds have recently made changes to their positions in TX. Royal Bank of Canada lifted its stake in shares of Ternium by 31.5% in the first quarter. Royal Bank of Canada now owns 26,965 shares of the basic materials company’s stock valued at $840,000 after purchasing an additional 6,453 shares during the period. Millennium Management LLC lifted 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 valued at $3,952,000 after purchasing an additional 107,880 shares during the period. Invesco Ltd. lifted its stake in shares of Ternium by 58.4% in the second quarter. Invesco Ltd. now owns 22,257 shares of the basic materials company’s stock valued at $670,000 after purchasing an additional 8,204 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Ternium in the second quarter valued at about $214,000. Finally, Militia Capital Partners LP lifted its stake in shares of Ternium by 16.1% in the second quarter. Militia Capital Partners LP now owns 36,084 shares of the basic materials company’s stock valued at $1,086,000 after purchasing an additional 5,000 shares during the period. 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.