UBS Group Boosts Ternium (NYSE:TX) Price Target to $41.00

Ternium (NYSE:TX) had its price target upped by stock analysts at UBS Group from $39.00 to $41.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the basic materials company’s stock. UBS Group’s price target indicates a potential upside of 2.78% from the stock’s previous close.

TX has been the subject of a number of other research reports. Wells Fargo & Company reduced their price target on Ternium from $34.00 to $33.00 and set an “underweight” rating for the company in a research report on Thursday, February 19th. Weiss Ratings upgraded Ternium from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Scotiabank reissued a “sector perform” rating and set a $40.00 price target on shares of Ternium in a report on Thursday, March 26th. Finally, Zacks Research lowered Ternium from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $36.19.

Ternium Stock Performance

Shares of TX traded down $0.85 on Thursday, reaching $39.89. The company’s stock had a trading volume of 79,084 shares, compared to its average volume of 213,942. The stock’s 50 day simple moving average is $41.58 and its two-hundred day simple moving average is $38.71. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.49 and a quick ratio of 1.45. The stock has a market capitalization of $8.00 billion, a P/E ratio of 18.47 and a beta of 1.27. Ternium has a 12-month low of $24.00 and a 12-month high of $45.57.

Ternium (NYSE:TX) last released its quarterly earnings results on Saturday, February 14th. The basic materials company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.15). Ternium had a return on equity of 3.06% and a net margin of 2.72%.The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.81 billion. During the same quarter in the previous year, the business posted ($0.42) earnings per share. The firm’s revenue was down 2.6% on a year-over-year basis. Research analysts forecast that Ternium will post 4.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ternium

Several large investors have recently added to or reduced their stakes in TX. Allianz Asset Management GmbH increased its stake in shares of Ternium by 64.7% during the third quarter. Allianz Asset Management GmbH now owns 58,115 shares of the basic materials company’s stock valued at $2,018,000 after buying an additional 22,823 shares during the period. Donald Smith & CO. Inc. raised its position in shares of 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 acquiring an additional 312,595 shares in the last quarter. Lazard Asset Management LLC lifted its stake in shares of Ternium by 4.6% during the 2nd quarter. Lazard Asset Management LLC now owns 5,358,772 shares of the basic materials company’s stock worth $161,298,000 after purchasing an additional 237,741 shares during the last quarter. Oaktree Capital Management LP boosted its position in Ternium by 13.2% during the second quarter. Oaktree Capital Management LP now owns 919,709 shares of the basic materials company’s stock valued at $27,683,000 after purchasing an additional 107,100 shares in the last quarter. Finally, Schroder Investment Management Group grew its stake in Ternium by 4.7% in the third quarter. Schroder Investment Management Group now owns 2,279,273 shares of the basic materials company’s stock valued at $79,159,000 after purchasing an additional 101,748 shares during the last quarter. 11.98% of the stock is owned by hedge funds and other institutional investors.

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.