Scotiabank Reaffirms “Sector Perform” Rating for Ternium (NYSE:TX)

Ternium (NYSE:TX)‘s stock had its “sector perform” rating restated by analysts at Scotiabank in a research note issued to investors on Thursday,Benzinga reports. They presently have a $40.00 price objective on the basic materials company’s stock. Scotiabank’s target price points to a potential upside of 1.32% from the company’s previous close.

A number of other research analysts have also weighed in on TX. UBS Group raised their target price on Ternium from $32.00 to $39.00 and gave the company a “neutral” rating in a report on Monday, December 15th. Weiss Ratings raised Ternium from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Zacks Research downgraded shares of Ternium from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. Finally, Wells Fargo & Company reduced their target price on shares of Ternium from $34.00 to $33.00 and set an “underweight” rating for the company in a research note on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $35.94.

Ternium Stock Performance

Shares of TX stock opened at $39.48 on Thursday. The company has a current ratio of 2.49, a quick ratio of 1.45 and a debt-to-equity ratio of 0.12. The firm has a fifty day simple moving average of $41.87 and a two-hundred day simple moving average of $38.53. Ternium has a 12 month low of $24.00 and a 12 month high of $45.57. The firm has a market capitalization of $7.91 billion, a PE ratio of 18.28 and a beta of 1.32.

Ternium (NYSE:TX) last posted its earnings results on Wednesday, February 18th. The basic materials company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.15). The business had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.81 billion. Ternium had a return on equity of 3.06% and a net margin of 2.72%.The company’s revenue was down 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.42) earnings per share. Analysts forecast that Ternium will post 4.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TX. EverSource Wealth Advisors LLC increased its stake in shares of Ternium by 49.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 704 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 232 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new stake in shares of Ternium during the 4th quarter valued at approximately $36,000. GAMMA Investing LLC boosted its holdings in Ternium by 40.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,061 shares of the basic materials company’s stock worth $37,000 after buying an additional 303 shares during the period. Camelot Portfolios LLC bought a new position in Ternium in the 4th quarter worth approximately $38,000. Finally, Advisory Services Network LLC purchased a new position in Ternium in the 3rd quarter valued at approximately $38,000. 11.98% of the stock is currently owned by hedge funds and other institutional investors.

About Ternium

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.