Ternium S.A. (TX) Rating Increased to Buy at Zacks Investment Research
Ternium S.A. (NYSE:TX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday. The brokerage currently has a $29.00 target price on the basic materials company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 14.49% from the company’s previous close.
According to Zacks, “Ternium is the leading producer of flat and long steel products of Latin America and consolidates the operations of the steel companies Hylsa in Mexico, Siderar in Argentina and Sidor in Venezuela. It create value with our customers, jointly improving competitiveness and productivity, through a highly efficient industrial and technological base and a global commercial network. “
A number of other research firms also recently commented on TX. HSBC Holdings plc upgraded shares of Ternium from a “hold” rating to a “buy” rating and increased their price objective for the stock from $25.00 to $31.00 in a research note on Thursday, February 23rd. Berenberg Bank restated a “buy” rating and set a $30.50 price objective on shares of Ternium in a research note on Sunday, February 19th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $28.80.
Ternium (NYSE TX) opened at 25.33 on Friday. Ternium has a 12-month low of $17.63 and a 12-month high of $28.04. The company has a market capitalization of $4.97 billion, a price-to-earnings ratio of 6.52 and a beta of 1.06. The firm’s 50-day moving average price is $25.42 and its 200 day moving average price is $25.07.
Ternium (NYSE:TX) last posted its quarterly earnings data on Tuesday, April 25th. The basic materials company reported $1.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.52. Ternium had a net margin of 10.37% and a return on equity of 15.33%. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the prior year, the business posted $0.48 EPS. The company’s quarterly revenue was up 23.2% on a year-over-year basis. On average, equities research analysts expect that Ternium will post $3.13 EPS for the current fiscal year.
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Institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. increased its position in Ternium by 2.7% in the first quarter. Russell Investments Group Ltd. now owns 735,915 shares of the basic materials company’s stock worth $19,224,000 after buying an additional 19,013 shares in the last quarter. Nationwide Fund Advisors increased its position in Ternium by 3.8% in the first quarter. Nationwide Fund Advisors now owns 65,149 shares of the basic materials company’s stock worth $1,702,000 after buying an additional 2,382 shares in the last quarter. DnB Asset Management AS increased its position in Ternium by 12.1% in the first quarter. DnB Asset Management AS now owns 24,000 shares of the basic materials company’s stock worth $627,000 after buying an additional 2,600 shares in the last quarter. Fox Run Management L.L.C. increased its position in Ternium by 17.8% in the first quarter. Fox Run Management L.L.C. now owns 22,500 shares of the basic materials company’s stock worth $588,000 after buying an additional 3,400 shares in the last quarter. Finally, Bank of Montreal Can increased its position in Ternium by 73.2% in the first quarter. Bank of Montreal Can now owns 185,680 shares of the basic materials company’s stock worth $4,850,000 after buying an additional 78,470 shares in the last quarter. Institutional investors own 22.48% of the company’s stock.
Ternium Company Profile
Ternium SA is a producer of steel products. The Company produces finished and semi-finished steel products and iron ore, which are sold either directly to steel manufacturers, steel processors or end users. The Company operates through two segments: Steel and Mining. The Steel segment includes the sales of steel products and the Mining segment includes the sales of iron ore products, which are primarily inter-company.
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