Ternium SA (TX) Stock Rating Lowered by Zacks Investment Research
Ternium SA (NYSE:TX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.
According to Zacks, “Ternium is the leading producer of flat and long steel products of Latin America and consolidates the operations of the steel companies Hylsa in Mexico, Siderar in Argentina and Sidor in Venezuela. It create value with our customers, jointly improving competitiveness and productivity, through a highly efficient industrial and technological base and a global commercial network. “
Several other research firms also recently weighed in on TX. TheStreet upgraded Ternium SA from a “hold” rating to a “buy” rating in a research note on Tuesday, August 2nd. JPMorgan Chase & Co. upped their price target on Ternium SA from $27.00 to $29.50 and gave the stock an “overweight” rating in a research note on Friday, August 5th. Finally, Credit Suisse Group AG restated a “hold” rating and issued a $21.00 price target on shares of Ternium SA in a research note on Tuesday, September 27th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $22.68.
Shares of Ternium SA (NYSE:TX) opened at 19.14 on Thursday. The stock has a market capitalization of $3.76 billion, a P/E ratio of 25.55 and a beta of 1.56. The firm has a 50-day moving average price of $19.87 and a 200-day moving average price of $19.72. Ternium SA has a 52-week low of $10.28 and a 52-week high of $23.60.
Ternium SA (NYSE:TX) last posted its earnings results on Tuesday, August 2nd. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.14. Ternium SA had a return on equity of 7.24% and a net margin of 2.42%. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the prior year, the business earned $0.21 EPS. The business’s revenue for the quarter was down 6.7% on a year-over-year basis. On average, analysts predict that Ternium SA will post $2.54 EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in TX. SignalPoint Asset Management LLC boosted its position in Ternium SA by 7.4% in the second quarter. SignalPoint Asset Management LLC now owns 41,659 shares of the company’s stock valued at $794,000 after buying an additional 2,873 shares during the period. Smith Asset Management Group LP acquired a new position in Ternium SA during the second quarter valued at about $198,000. Bank of Montreal Can acquired a new position in Ternium SA during the second quarter valued at about $1,240,000. Dorsey Wright & Associates acquired a new position in Ternium SA during the second quarter valued at about $342,000. Finally, Acadian Asset Management LLC boosted its position in Ternium SA by 64.9% in the second quarter. Acadian Asset Management LLC now owns 6,431,660 shares of the company’s stock valued at $122,584,000 after buying an additional 2,532,434 shares during the period. 21.35% of the stock is currently owned by institutional investors and hedge funds.
Ternium SA Company Profile
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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