Ternium (NYSE:TX) Shares Cross Above 200-Day Moving Average – Here’s Why

Ternium S.A. (NYSE:TX) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $40.70 and traded as high as $47.25. Ternium shares last traded at $46.9870, with a volume of 837,146 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TX. UBS Group lifted their price objective on Ternium from $39.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, April 2nd. Bradesco Corretora upgraded Ternium to an “outperform” rating and set a $62.00 price objective for the company in a research report on Tuesday, May 19th. Bank of America raised shares of Ternium from a “neutral” rating to a “buy” rating and set a $46.00 target price for the company in a research note on Monday, April 13th. The Goldman Sachs Group reissued a “buy” rating and set a $57.00 price objective on shares of Ternium in a research note on Friday. Finally, Scotiabank reissued a “sector perform” rating and set a $40.00 price objective on shares of Ternium in a research note on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $46.35.

Ternium Trading Up 5.2%

The business’s 50-day moving average is $42.31 and its two-hundred day moving average is $40.79. The company has a current ratio of 2.63, a quick ratio of 1.53 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $9.91 billion, a PE ratio of 16.99 and a beta of 1.26.

Ternium (NYSE:TX) last released its quarterly earnings results on Tuesday, March 31st. The basic materials company reported $1.10 earnings per share for the quarter. The firm had revenue of $3.93 billion during the quarter. Ternium had a return on equity of 3.70% and a net margin of 3.66%. On average, analysts predict that Ternium S.A. will post 4.04 earnings per share for the current year.

Hedge Funds Weigh In On Ternium

Institutional investors and hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its position in Ternium by 49.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 704 shares of the basic materials company’s stock valued at $27,000 after buying an additional 232 shares during the last quarter. Parallel Advisors LLC boosted its position in Ternium by 101.3% in the 1st quarter. Parallel Advisors LLC now owns 805 shares of the basic materials company’s stock valued at $32,000 after buying an additional 405 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new position in Ternium in the 4th quarter valued at about $36,000. Camelot Portfolios LLC purchased a new position in Ternium in the 4th quarter valued at about $38,000. Finally, Advisory Services Network LLC purchased a new position in Ternium in the 3rd quarter valued at about $38,000. Hedge funds and other institutional investors own 11.98% of the company’s stock.

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.