Ternium (NYSE:TX) Hits New 1-Year High After Strong Earnings

Ternium S.A. (NYSE:TX)’s stock price hit a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $52.71 and last traded at $52.1610, with a volume of 15522 shares. The stock had previously closed at $50.34.

The basic materials company reported $1.80 earnings per share for the quarter. Ternium had a return on equity of 3.70% and a net margin of 3.66%.The firm had revenue of $4.34 billion during the quarter.

Wall Street Analysts Forecast Growth

TX has been the topic of a number of recent analyst reports. Zacks Research lowered shares of Ternium from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 30th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Ternium in a report on Friday, May 22nd. Wall Street Zen upgraded Ternium from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 12th. Bradesco Corretora raised Ternium to an “outperform” rating and set a $62.00 target price for the company in a research note on Tuesday, May 19th. Finally, Itau BBA Securities raised Ternium from a “market perform” rating to an “outperform” rating and set a $59.00 price target for the company in a report on Sunday, May 24th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $47.94.

Institutional Trading of Ternium

A number of institutional investors have recently added to or reduced their stakes in TX. EverSource Wealth Advisors LLC increased its holdings in Ternium by 49.2% in the fourth 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 in the last quarter. Parallel Advisors LLC grew its holdings in shares of Ternium by 101.2% in the 1st quarter. Parallel Advisors LLC now owns 805 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 405 shares during the period. Atlas Capital Advisors Inc. purchased a new position in Ternium in the 4th quarter valued at approximately $36,000. Camelot Portfolios LLC purchased a new position in Ternium in the 4th quarter valued at approximately $38,000. Finally, Advisory Services Network LLC acquired a new position in Ternium during the third quarter worth $38,000. Hedge funds and other institutional investors own 11.98% of the company’s stock.

Ternium Stock Performance

The stock has a 50-day simple moving average of $46.52 and a 200 day simple moving average of $43.86. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.63 and a quick ratio of 1.53. The company has a market capitalization of $10.46 billion, a PE ratio of 17.92, a P/E/G ratio of 0.18 and a beta of 1.25.

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.