Ternium (NYSE:TX) Downgraded to “Hold” Rating by Zacks Research

Ternium (NYSE:TX) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

TX has been the topic of several other reports. HSBC set a $41.00 target price on Ternium and gave the stock a “buy” rating in a report on Friday, October 17th. Wells Fargo & Company upped their price target on shares of Ternium from $30.00 to $34.00 and gave the company an “underweight” rating in a report on Wednesday, January 21st. Hsbc Global Res raised shares of Ternium to a “strong-buy” rating in a research note on Friday, October 17th. Wall Street Zen lowered Ternium from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, JPMorgan Chase & Co. upped their price target on shares of Ternium from $39.00 to $40.50 and gave the stock an “overweight” rating in a research report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Ternium presently has a consensus rating of “Hold” and a consensus target price of $36.06.

Ternium Trading Down 4.0%

NYSE:TX opened at $41.82 on Thursday. The business has a fifty day moving average price of $39.42 and a 200-day moving average price of $36.01. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.46 and a quick ratio of 1.42. Ternium has a one year low of $24.00 and a one year high of $44.16. The firm has a market capitalization of $8.38 billion, a price-to-earnings ratio of 14.08 and a beta of 1.36.

Ternium (NYSE:TX) last announced its quarterly earnings data on Tuesday, October 28th. The basic materials company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.68). The firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $4.02 billion. Ternium had a net margin of 3.72% and a return on equity of 1.89%. The firm’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.16 earnings per share. Sell-side analysts forecast that Ternium will post 4.37 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Lazard Asset Management LLC raised its holdings in shares of Ternium by 8.5% during the third quarter. Lazard Asset Management LLC now owns 5,813,570 shares of the basic materials company’s stock valued at $201,905,000 after acquiring an additional 454,798 shares during the last quarter. Donald Smith & CO. Inc. boosted its stake in Ternium by 10.1% during the second quarter. Donald Smith & CO. Inc. now owns 3,412,385 shares of the basic materials company’s stock worth $102,713,000 after buying an additional 312,595 shares during the period. Schroder Investment Management Group lifted its stake in Ternium by 4.7% during the third quarter. Schroder Investment Management Group now owns 2,279,273 shares of the basic materials company’s stock worth $79,159,000 after purchasing an additional 101,748 shares in the last quarter. Oaktree Capital Management LP lifted its position in shares of Ternium by 13.2% during the second quarter. Oaktree Capital Management LP now owns 919,709 shares of the basic materials company’s stock worth $27,683,000 after purchasing an additional 107,100 shares in the last quarter. Finally, Prudential PLC raised its stake in shares of Ternium by 5.5% in the third quarter. Prudential PLC now owns 717,593 shares of the basic materials company’s stock valued at $24,922,000 after acquiring an additional 37,408 shares in the last quarter. 11.98% of the stock is owned by institutional investors and hedge funds.

Ternium Company Profile

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.