Ternium (NYSE:TX) Reaches New 52-Week High – What’s Next?

Ternium S.A. (NYSE:TX) hit a new 52-week high on Tuesday. The company traded as high as $59.56 and last traded at $60.0640, with a volume of 87,842 shares changing hands. The stock had previously closed at $58.16.

Analysts Set New Price Targets

TX has been the subject of a number of research reports. HSBC restated a “hold” rating and set a $55.00 target price (up from $53.00) on shares of Ternium in a research report on Friday, August 21st. UBS Group upped their price target on Ternium from $56.00 to $59.00 and gave the company a “neutral” rating in a research note on Thursday, August 27th. Weiss Ratings upgraded shares of Ternium from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, September 10th. Wells Fargo & Company increased their target price on Ternium from $52.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, October 6th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Ternium from $60.50 to $67.50 and gave the company an “overweight” rating in a report on Friday, September 4th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.72.

Ternium Stock Up 3.5%

The business has a 50-day moving average price of $56.23 and a 200-day moving average price of $49.33. The company has a quick ratio of 1.43, a current ratio of 2.58 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $12.06 billion, a price-to-earnings ratio of 16.84, a price-to-earnings-growth ratio of 0.17 and a beta of 1.17.

Ternium (NYSE:TX) last announced its quarterly earnings data on Tuesday, June 30th. The basic materials company reported $1.80 EPS for the quarter. The firm had revenue of $4.34 billion during the quarter. Ternium had a return on equity of 4.26% and a net margin of 4.37%. As a group, equities analysts anticipate that Ternium S.A. will post 6.49 earnings per share for the current fiscal year.

Institutional Trading of Ternium

Several institutional investors and hedge funds have recently made changes to their positions in the business. Donald Smith & CO. Inc. bought a new position in shares of Ternium during the 2nd quarter worth approximately $134,131,000. Lazard Asset Management LLC raised its position in shares of Ternium by 8.0% during the first quarter. Lazard Asset Management LLC now owns 6,336,127 shares of the basic materials company’s stock worth $254,395,000 after purchasing an additional 469,846 shares during the period. Nykredit A S purchased a new stake in shares of Ternium during the second quarter valued at approximately $14,329,000. Wellington Management Group LLP purchased a new stake in Ternium in the 2nd quarter worth about $5,704,000. Finally, Amundi grew its stake in Ternium by 19.9% in 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 in the last quarter. Institutional investors own 11.98% of the company’s stock.

About Ternium

Ternium SA is a steel producer serving customers primarily in the Americas. The company manufactures and distributes a broad range of steel products, including flat steel, long steel, galvanized and pre-painted steel, hot- and cold-rolled products, steel bars, wire rod, and tubular products.

Ternium supplies industries such as construction, automotive, appliance manufacturing, energy, transportation, and agriculture. Its operations include iron ore mining, steelmaking, rolling, coating, processing, and distribution, allowing it to offer both commodity and higher-value-added steel products.

The company has industrial and commercial operations across Latin America, including Mexico, Brazil, Argentina, Colombia, and other markets in the region, as well as a presence in the United States and Central America.