Ternium (NYSE:TX) Hits New 1-Year High on Analyst Upgrade

Ternium S.A. (NYSE:TX) shares reached a new 52-week high on Friday after JPMorgan Chase & Co. raised their price target on the stock from $60.50 to $67.50. JPMorgan Chase & Co. currently has an overweight rating on the stock. Ternium traded as high as $58.50 and last traded at $57.6240, with a volume of 19154 shares changing hands. The stock had previously closed at $57.98.

A number of other equities research analysts have also recently issued reports on TX. Zacks Research cut shares of Ternium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 30th. Bradesco Corretora upgraded shares of Ternium to an “outperform” rating and set a $62.00 price objective for the company in a research note on Tuesday, May 19th. Weiss Ratings reissued a “buy (b-)” rating on shares of Ternium in a report on Monday, August 17th. Wells Fargo & Company upgraded shares of Ternium from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $43.00 to $45.00 in a research report on Thursday, July 9th. Finally, HSBC reaffirmed a “hold” rating and set a $55.00 price objective (up from $53.00) on shares of Ternium in a research report on Friday, August 21st. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.50.

Institutional Investors Weigh In On Ternium

A number of hedge funds have recently made changes to their positions in TX. EverSource Wealth Advisors LLC lifted its stake 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 purchasing an additional 232 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Ternium by 101.2% during the first quarter. Parallel Advisors LLC now owns 805 shares of the basic materials company’s stock worth $32,000 after buying an additional 405 shares during the last quarter. Atlas Capital Advisors Inc. bought a new stake in shares of Ternium during the fourth quarter worth $36,000. Advisory Services Network LLC acquired a new position in shares of Ternium during the third quarter worth $38,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Ternium by 142.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,254 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 736 shares during the last quarter. 11.98% of the stock is currently owned by institutional investors and hedge funds.

Ternium Stock Down 0.4%

The company has a current ratio of 2.58, a quick ratio of 1.43 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $11.58 billion, a P/E ratio of 16.22, a PEG ratio of 0.18 and a beta of 1.25. The stock has a 50 day moving average price of $49.47 and a 200 day moving average price of $45.64.

Ternium (NYSE:TX) last issued its quarterly earnings data on Tuesday, June 30th. The basic materials company reported $1.80 earnings per share for the quarter. The business had revenue of $4.34 billion for the quarter. Ternium had a return on equity of 4.26% and a net margin of 4.37%. On average, research analysts anticipate that Ternium S.A. will post 6.07 earnings per share for the current fiscal year.

Ternium Company Profile

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.