Wells Fargo & Company Forecasts Strong Price Appreciation for Ternium (NYSE:TX) Stock

Ternium (NYSE:TX) had its price objective boosted by analysts at Wells Fargo & Company from $30.00 to $34.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the basic materials company’s stock. Wells Fargo & Company‘s target price suggests a potential downside of 21.18% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Hsbc Global Res upgraded Ternium to a “strong-buy” rating in a report on Friday, October 17th. HSBC set a $41.00 target price on shares of Ternium and gave the company a “buy” rating in a report on Friday, October 17th. UBS Group lifted their price target on Ternium from $32.00 to $39.00 and gave the stock a “neutral” rating in a research report on Monday, December 15th. Wall Street Zen downgraded shares of Ternium from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, JPMorgan Chase & Co. increased their target price on Ternium from $39.00 to $40.50 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Ternium currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.06.

Ternium Stock Performance

Shares of TX opened at $43.14 on Wednesday. Ternium has a 12 month low of $24.00 and a 12 month high of $42.47. The company has a current ratio of 2.46, a quick ratio of 1.42 and a debt-to-equity ratio of 0.10. The firm has a market cap of $8.65 billion, a PE ratio of 14.38 and a beta of 1.36. The stock has a fifty day moving average price of $38.29 and a 200-day moving average price of $35.44.

Ternium (NYSE:TX) last issued 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 analysts’ expectations of $4.02 billion. During the same quarter in the previous year, the company earned $0.16 EPS. The firm’s quarterly revenue was down 11.7% compared to the same quarter last year. Equities research analysts predict that Ternium will post 4.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ternium

A number of institutional investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC raised its holdings in Ternium by 8.5% in the 3rd quarter. Lazard Asset Management LLC now owns 5,813,570 shares of the basic materials company’s stock valued at $201,905,000 after buying an additional 454,798 shares during the last quarter. Donald Smith & CO. Inc. boosted its holdings in Ternium by 10.1% in the 2nd quarter. Donald Smith & CO. Inc. now owns 3,412,385 shares of the basic materials company’s stock worth $102,713,000 after buying an additional 312,595 shares during the period. Ninety One UK Ltd lifted its holdings in Ternium by 5.2% during the 2nd 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 in the last quarter. Schroder Investment Management Group grew its holdings in Ternium by 4.7% during the 3rd quarter. Schroder Investment Management Group now owns 2,279,273 shares of the basic materials company’s stock valued at $79,159,000 after buying an additional 101,748 shares in the last quarter. Finally, Ninety One North America Inc. lifted its holdings in shares of Ternium by 23.4% in 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 buying an additional 194,174 shares in the last quarter. 11.98% of the stock is currently owned by institutional investors and hedge funds.

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.