Ternium (NYSE:TX) Price Target Raised to $56.00

Ternium (NYSE:TX) had its price objective boosted by Wells Fargo & Company from $52.00 to $56.00 in a report published on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the basic materials company’s stock.

Several other brokerages also recently commented on TX. HSBC restated a “hold” rating and issued a $55.00 price objective (up from $53.00) on shares of Ternium in a research report on Friday, August 21st. Zacks Research raised Ternium from a “hold” rating to a “strong-buy” rating in a report on Friday, September 11th. UBS Group upped their price target on Ternium from $56.00 to $59.00 and gave the stock a “neutral” rating in a research note on Thursday, August 27th. Wall Street Zen raised shares of Ternium from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 12th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Ternium from $60.50 to $67.50 and gave the company an “overweight” rating in a research report on Friday, September 4th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $55.72.

Ternium Stock Up 0.0%

Shares of TX stock opened at $56.42 on Tuesday. The company has a market capitalization of $11.31 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 0.17 and a beta of 1.17. Ternium has a one year low of $33.01 and a one year high of $59.32. The company’s fifty day moving average price is $55.39 and its 200-day moving average price is $48.40. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.58 and a quick ratio of 1.43.

Ternium (NYSE:TX) last released its earnings results on Tuesday, June 30th. The basic materials company reported $1.80 earnings per share for the quarter. The company had revenue of $4.34 billion for the quarter. Ternium had a net margin of 4.37% and a return on equity of 4.26%. Sell-side analysts expect that Ternium will post 6.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Ternium

A number of hedge funds have recently made changes to their positions in TX. Lazard Asset Management LLC grew its holdings in Ternium by 8.0% during the 1st quarter. Lazard Asset Management LLC now owns 6,336,127 shares of the basic materials company’s stock valued at $254,395,000 after buying an additional 469,846 shares in the last quarter. Donald Smith & CO. Inc. raised its holdings in shares of Ternium by 1.8% during the 4th quarter. Donald Smith & CO. Inc. now owns 3,808,645 shares of the basic materials company’s stock worth $145,452,000 after acquiring an additional 66,062 shares in the last quarter. Cape Ann Asset Management Ltd boosted its position in shares of Ternium by 20.5% during the 4th quarter. Cape Ann Asset Management Ltd now owns 1,068,649 shares of the basic materials company’s stock valued at $40,812,000 after acquiring an additional 182,000 shares during the last quarter. Amundi boosted 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 valued at $28,238,000 after acquiring an additional 116,813 shares during the last quarter. Finally, Nykredit A S purchased a new position in shares of Ternium in the second quarter valued at $14,329,000. 11.98% of the stock is currently owned by hedge funds and other institutional investors.

About Ternium

Ternium SA (NYSE: TX) is a steel producer serving customers primarily in the Americas. The company manufactures a broad range of steel products, including flat steel, long steel, slabs, billets, galvanized and pre-painted steel, and other value-added products used in construction, automotive manufacturing, appliances, energy, machinery, and other industrial applications.

Ternium operates an integrated steelmaking and processing network with production and distribution activities in countries including Mexico, Brazil, Argentina, Colombia, and the United States.