The Goldman Sachs Group Cuts Ternium (NYSE:TX) Price Target to $35.00

Ternium (NYSE:TX) had its target price lowered by The Goldman Sachs Group from $39.00 to $35.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 15.82% from the company’s previous close.

Separately, UBS Group started coverage on Ternium in a report on Wednesday, March 12th. They issued a “neutral” rating and a $32.00 target price on the stock.

Ternium Price Performance

Shares of TX traded down $1.06 during trading hours on Thursday, reaching $30.22. The company had a trading volume of 243,895 shares, compared to its average volume of 258,924. The company has a market capitalization of $5.93 billion, a price-to-earnings ratio of -107.92, a PEG ratio of 0.38 and a beta of 1.76. Ternium has a 12-month low of $28.00 and a 12-month high of $44.44. The firm has a 50 day simple moving average of $30.61 and a 200-day simple moving average of $32.12. The company has a current ratio of 2.88, a quick ratio of 1.67 and a debt-to-equity ratio of 0.11.

Ternium (NYSE:TX) last posted its quarterly earnings results on Tuesday, February 18th. The basic materials company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($1.39). The company had revenue of $3.88 billion for the quarter, compared to analyst estimates of $4.18 billion. Ternium had a negative net margin of 0.31% and a positive return on equity of 1.82%. Research analysts expect that Ternium will post 4.37 earnings per share for the current year.

Institutional Investors Weigh In On Ternium

A number of large investors have recently bought and sold shares of the stock. Aquatic Capital Management LLC lifted its position in shares of Ternium by 28.4% in the fourth quarter. Aquatic Capital Management LLC now owns 2,182 shares of the basic materials company’s stock valued at $63,000 after acquiring an additional 482 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Ternium by 500.0% in the 4th quarter. NewEdge Advisors LLC now owns 1,200 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 1,000 shares in the last quarter. Headlands Technologies LLC lifted its holdings in Ternium by 249.5% in the 4th quarter. Headlands Technologies LLC now owns 1,681 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 1,200 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Ternium by 14.4% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 10,250 shares of the basic materials company’s stock worth $298,000 after purchasing an additional 1,289 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Ternium during the fourth quarter worth about $54,000. Institutional investors and hedge funds own 11.98% of the company’s stock.

About Ternium

Ternium SA, together with its subsidiaries, manufactures and distributes steel products in Mexico, Southern Region, Brazil, and internationally. It operates through three segments: Steel, Mining, and Usiminas. The Steel segment offers slabs, hot and cold rolled products, coated products, roll formed and tubular products, bars, billets, and other products.