Ternium SA (TX) Sees Large Volume Increase
Ternium SA (NYSE:TX) shares saw strong trading volume on Tuesday . 725,129 shares traded hands during trading, an increase of 95% from the previous session’s volume of 372,147 shares.The stock last traded at $21.93 and had previously closed at $21.25.
Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Ternium SA from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, July 7th. HSBC assumed coverage on Ternium SA in a report on Friday, May 13th. They issued a “buy” rating for the company. Morgan Stanley downgraded Ternium SA from an “overweight” rating to an “equal weight” rating and set a $20.00 price objective for the company. in a report on Monday, May 9th. They noted that the move was a valuation call. Zacks Investment Research upgraded Ternium SA from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Wednesday, April 27th. Finally, TheStreet upgraded Ternium SA from a “sell” rating to a “hold” rating in a report on Tuesday, March 29th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Ternium SA currently has an average rating of “Buy” and a consensus price target of $21.93.
The stock has a 50 day moving average of $19.95 and a 200 day moving average of $17.19. The firm has a market capitalization of $4.31 billion and a P/E ratio of 126.03.
Ternium SA (NYSE:TX) last issued its quarterly earnings results on Tuesday, April 26th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.01. Analysts predict that Ternium SA will post $2.10 EPS for the current fiscal year.
Several institutional investors have modified their holdings of the stock. Brandes Investment Partners LP raised its position in shares of Ternium SA by 2.0% in the fourth quarter. Brandes Investment Partners LP now owns 7,114,947 shares of the company’s stock valued at $88,439,000 after buying an additional 141,503 shares during the last quarter. GSA Capital Partners LLP increased its stake in Ternium SA by 0.7% in the fourth quarter. GSA Capital Partners LLP now owns 125,309 shares of the company’s stock valued at $1,558,000 after buying an additional 905 shares during the period. Morgan Stanley increased its stake in Ternium SA by 16.5% in the fourth quarter. Morgan Stanley now owns 135,309 shares of the company’s stock valued at $1,682,000 after buying an additional 19,155 shares during the period. Finally, California Public Employees Retirement System increased its stake in Ternium SA by 10.8% in the fourth quarter. California Public Employees Retirement System now owns 241,500 shares of the company’s stock valued at $3,002,000 after buying an additional 23,600 shares during the period.
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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