Ternium (NYSE:TX) Share Price Breaks Above Two Hundred Day Moving Average – Here’s What Happened

Ternium S.A. (NYSE:TX) passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $47.39 and traded as high as $55.15. Ternium shares last traded at $54.4860, with a volume of 266,631 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TX. Wells Fargo & Company raised Ternium from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $43.00 to $45.00 in a research report on Thursday, July 9th. JPMorgan Chase & Co. lifted their price target on Ternium from $60.50 to $67.50 and gave the company an “overweight” rating in a report on Friday, September 4th. Weiss Ratings raised Ternium from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, September 10th. Wall Street Zen upgraded Ternium from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 12th. Finally, UBS Group raised their price objective on shares of Ternium from $56.00 to $59.00 and gave the company a “neutral” rating in a research report on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Ternium currently has a consensus rating of “Moderate Buy” and an average price target of $54.50.

Ternium Trading Up 2.1%

The company has a fifty day simple moving average of $54.21 and a two-hundred day simple moving average of $47.49. The company has a market capitalization of $10.94 billion, a P/E ratio of 15.33, a price-to-earnings-growth ratio of 0.16 and a beta of 1.25. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.58 and a quick ratio of 1.43.

Ternium (NYSE:TX) last released its quarterly earnings results on Tuesday, June 30th. The basic materials company reported $1.80 earnings per share (EPS) for the quarter. The company had revenue of $4.34 billion during the quarter. Ternium had a return on equity of 4.26% and a net margin of 4.37%. On average, analysts forecast that Ternium S.A. will post 6.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ternium

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP boosted its holdings in shares of Ternium by 496.8% during the 2nd quarter. Engineers Gate Manager LP now owns 56,337 shares of the basic materials company’s stock worth $2,406,000 after buying an additional 46,897 shares during the period. Nykredit A S bought a new position in Ternium in the 2nd quarter worth $10,564,000. Wellington Management Group LLP acquired a new position in Ternium during the 2nd quarter worth $5,704,000. Donald Smith & CO. Inc. acquired a new position in Ternium during the 2nd quarter worth $134,131,000. Finally, Oldfield Partners LLP boosted its holdings in Ternium by 11.3% during the second quarter. Oldfield Partners LLP now owns 26,161 shares of the basic materials company’s stock valued at $1,117,000 after acquiring an additional 2,666 shares during the period. Institutional investors and hedge funds own 11.98% of the company’s stock.

About Ternium

Ternium SA (NYSE: TX) is a steel producer serving customers primarily in the Americas. The company manufactures a broad range of steel products, including flat steel, long steel, slabs, billets, galvanized and pre-painted steel, and other value-added products used in construction, automotive manufacturing, appliances, energy, machinery, and other industrial applications.

Ternium operates an integrated steelmaking and processing network with production and distribution activities in countries including Mexico, Brazil, Argentina, Colombia, and the United States.