Ternium SA (TX) Hits New 1-Year High at $23.60
Ternium SA (NYSE:TX) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $23.60 and last traded at $22.95, with a volume of 183,337 shares. The stock had previously closed at $23.30.
A number of research analysts have recently commented on the stock. Zacks Investment Research raised shares of Ternium SA from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Saturday, August 6th. JPMorgan Chase & Co. increased their target price on shares of Ternium SA from $27.00 to $29.50 and gave the stock an “overweight” rating in a report on Friday, August 5th. TheStreet raised shares of Ternium SA from a “hold” rating to a “buy” rating in a report on Tuesday, August 2nd. Morgan Stanley cut shares of Ternium SA from an “overweight” rating to an “equal weight” rating and set a $20.00 target price for the company. in a report on Monday, May 9th. They noted that the move was a valuation call. Finally, HSBC assumed coverage on shares of Ternium SA in a report on Friday, May 13th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $23.18.
The stock’s 50-day moving average price is $20.78 and its 200 day moving average price is $18.01. The firm has a market capitalization of $4.43 billion and a price-to-earnings ratio of 30.11.
Ternium SA (NYSE:TX) last posted its earnings results on Tuesday, August 2nd. The company reported $0.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.14. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $2.01 billion. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.21 EPS. Equities research analysts expect that Ternium SA will post $2.39 earnings per share for the current year.
A hedge fund recently raised its stake in Ternium SA stock. California Public Employees Retirement System increased its position in shares of Ternium SA (NYSE:TX) by 10.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 241,500 shares of the company’s stock after buying an additional 23,600 shares during the period. California Public Employees Retirement System owned about 0.12% of Ternium SA worth $3,002,000 at the end of the most recent quarter.
Ternium SA is a steel producer in Latin America. The Company manufactures and processes a range of steel products, including galvanized and electro-galvanized sheets, pre-painted sheets, tinplate, welded pipes, hot-rolled flat products, cold-rolled products, bars and wire rods, as well as slitted and cut-to-length offerings through its service centers.
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