Ternium (NYSE:TX) Upgraded to “Strong-Buy” at Zacks Research

Ternium (NYSE:TX) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other research firms have also recently commented on TX. Scotiabank reiterated a “sector perform” rating and set a $40.00 price target on shares of Ternium in a report on Thursday, March 26th. Wells Fargo & Company boosted their price target on shares of Ternium from $36.00 to $43.00 and gave the stock an “underweight” rating in a report on Thursday, May 7th. Wall Street Zen upgraded shares of Ternium from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 17th. Bradesco Corretora upgraded shares of Ternium to an “outperform” rating and set a $62.00 price target for the company in a report on Tuesday, May 19th. Finally, Bank of America upgraded shares of Ternium from a “neutral” rating to a “buy” rating and set a $46.00 price target for the company in a report on Monday, April 13th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $46.35.

Ternium Trading Down 3.5%

NYSE TX opened at $47.36 on Tuesday. The company has a quick ratio of 1.53, a current ratio of 2.63 and a debt-to-equity ratio of 0.14. Ternium has a 52 week low of $28.76 and a 52 week high of $51.73. The stock has a market capitalization of $9.49 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 0.20 and a beta of 1.28. The firm has a 50 day moving average of $45.51 and a two-hundred day moving average of $42.25.

Ternium (NYSE:TX) last posted its quarterly earnings results on Tuesday, March 31st. The basic materials company reported $1.10 EPS for the quarter. Ternium had a net margin of 3.66% and a return on equity of 3.70%. The company had revenue of $3.93 billion during the quarter. As a group, research analysts expect that Ternium will post 4.73 EPS for the current fiscal year.

Institutional Trading of Ternium

Several institutional investors have recently modified their holdings of the stock. Empowered Funds LLC lifted its position in shares of Ternium by 69.4% during the 1st quarter. Empowered Funds LLC now owns 161,171 shares of the basic materials company’s stock worth $6,471,000 after buying an additional 66,042 shares during the last quarter. Militia Capital Management LLC purchased a new stake in shares of Ternium during the 1st quarter worth approximately $1,486,000. Parallel Advisors LLC lifted its position in shares of Ternium by 101.3% during the 1st 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. Arkadios Wealth Advisors purchased a new stake in shares of Ternium during the 1st quarter worth approximately $264,000. Finally, Amundi lifted its position in shares of Ternium by 19.9% during the 1st quarter. Amundi now owns 703,304 shares of the basic materials company’s stock worth $28,238,000 after buying an additional 116,813 shares during the last quarter. Hedge funds and other institutional investors own 11.98% of the company’s stock.

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.