Ternium (NYSE:TX) Stock Price Target Cut by Wells Fargo & Company

Ternium (NYSE:TX) had its price objective cut by research analysts at Wells Fargo & Company from $56.00 to $52.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the basic materials company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 5.69% from the stock’s previous close.

A number of other research analysts also recently weighed in on TX. UBS Group raised 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. Zacks Research cut shares of Ternium from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 13th. JPMorgan Chase & Co. boosted their target price on shares of Ternium from $60.50 to $67.50 and gave the stock an “overweight” rating in a report on Friday, September 4th. HSBC lowered shares of Ternium from a “buy” rating to a “hold” rating and upped their price target for the stock from $53.00 to $55.00 in a research report on Friday, August 21st. Finally, Weiss Ratings upgraded shares of Ternium from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, September 10th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $55.28.

Ternium Stock Down 4.3%

NYSE:TX traded down $2.20 on Thursday, hitting $49.20. 265,213 shares of the company’s stock were exchanged, compared to its average volume of 412,134. The firm has a 50-day moving average price of $56.17 and a 200-day moving average price of $47.74. Ternium has a 52 week low of $35.12 and a 52 week high of $60.21. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.58 and a quick ratio of 1.43. The company has a market cap of $9.86 billion, a P/E ratio of 10.10, a price-to-earnings-growth ratio of 0.14 and a beta of 1.17.

Ternium (NYSE:TX) last announced its quarterly earnings data on Tuesday, November 3rd. The basic materials company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.37). The company had revenue of $4.64 billion during the quarter, compared to the consensus estimate of $4.65 billion. Ternium had a net margin of 5.74% and a return on equity of 5.82%. Ternium’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 EPS. As a group, analysts expect that Ternium will post 6.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Ternium

Several hedge funds have recently added to or reduced their stakes in TX. Lazard Asset Management LLC boosted its position in 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. Donald Smith & CO. Inc. acquired a new position in shares of Ternium in the second quarter valued at $134,131,000. Amundi raised its position in shares of Ternium by 19.9% in the first quarter. Amundi now owns 703,304 shares of the basic materials company’s stock valued at $28,238,000 after purchasing an additional 116,813 shares during the period. Robeco Institutional Asset Management B.V. raised its position in shares of Ternium by 9.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 472,046 shares of the basic materials company’s stock valued at $25,632,000 after purchasing an additional 41,561 shares during the period. Finally, Nykredit A S acquired a new stake in shares of Ternium during the 2nd quarter worth about $14,329,000. Institutional investors and hedge funds 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.