Ternium (NYSE:TX) Reaches New 1-Year High – Time to Buy?

Shares of Ternium S.A. (NYSE:TX) hit a new 52-week high during mid-day trading on Tuesday. The company traded as high as $59.56 and last traded at $60.0640, with a volume of 87,842 shares changing hands. The stock had previously closed at $58.16.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TX shares. Zacks Research downgraded shares of Ternium from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 13th. JPMorgan Chase & Co. upped their target price on shares of Ternium from $60.50 to $67.50 and gave the company an “overweight” rating in a research note on Friday, September 4th. UBS Group increased their price target on shares of Ternium from $56.00 to $59.00 and gave the stock a “neutral” rating in a research report on Thursday, August 27th. Wells Fargo & Company raised their price target on shares of Ternium from $52.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 6th. Finally, Wall Street Zen raised Ternium from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 12th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Ternium currently has an average rating of “Moderate Buy” and an average price target of $55.72.

Ternium Stock Down 1.2%

The business has a 50-day simple moving average of $56.42 and a two-hundred day simple moving average of $49.60. The stock has a market capitalization of $11.82 billion, a P/E ratio of 16.56, a PEG ratio of 0.18 and a beta of 1.17. The company has a quick ratio of 1.43, a current ratio of 2.58 and a debt-to-equity ratio of 0.14.

Ternium (NYSE:TX) last issued its quarterly earnings data on Tuesday, June 30th. The basic materials company reported $1.80 earnings per share (EPS) for the quarter. Ternium had a return on equity of 4.26% and a net margin of 4.37%. The company had revenue of $4.34 billion during the quarter. Equities research analysts forecast that Ternium S.A. will post 6.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ternium

Several institutional investors have recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. boosted its position in Ternium by 9.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 472,046 shares of the basic materials company’s stock valued at $25,632,000 after buying an additional 41,561 shares in the last quarter. TD Waterhouse Canada Inc. increased its holdings in shares of Ternium by 896.2% during the third quarter. TD Waterhouse Canada Inc. now owns 11,815 shares of the basic materials company’s stock worth $653,000 after buying an additional 10,629 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Ternium by 14.9% during the third quarter. GAMMA Investing LLC now owns 2,489 shares of the basic materials company’s stock worth $135,000 after buying an additional 323 shares in the last quarter. Engineers Gate Manager LP raised its stake in shares of Ternium by 496.8% in the second quarter. Engineers Gate Manager LP now owns 56,337 shares of the basic materials company’s stock valued at $2,406,000 after acquiring an additional 46,897 shares during the last quarter. Finally, Nykredit A S bought a new position in shares of Ternium in the second quarter valued at approximately $10,564,000. 11.98% of the stock is owned by institutional investors.

Ternium Company Profile

Ternium SA is a steel producer serving customers primarily in the Americas. The company manufactures and distributes a broad range of steel products, including flat steel, long steel, galvanized and pre-painted steel, hot- and cold-rolled products, steel bars, wire rod, and tubular products.

Ternium supplies industries such as construction, automotive, appliance manufacturing, energy, transportation, and agriculture. Its operations include iron ore mining, steelmaking, rolling, coating, processing, and distribution, allowing it to offer both commodity and higher-value-added steel products.

The company has industrial and commercial operations across Latin America, including Mexico, Brazil, Argentina, Colombia, and other markets in the region, as well as a presence in the United States and Central America.