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

Zacks Research lowered shares of Ternium (NYSE:TX) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday,Zacks reports.

Several other equities research analysts have also recently commented on TX. UBS Group raised their target price on shares of Ternium from $56.00 to $59.00 and gave the stock a “neutral” rating in a research report on Thursday, August 27th. Wells Fargo & Company boosted their price target on shares of Ternium from $52.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 6th. HSBC reissued a “hold” rating and issued a $55.00 price target (up from $53.00) on shares of Ternium in a research note on Friday, August 21st. JPMorgan Chase & Co. increased their price target on shares of Ternium from $60.50 to $67.50 and gave the stock an “overweight” rating in a research note on Friday, September 4th. Finally, Wall Street Zen upgraded shares of Ternium from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 12th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.72.

Ternium Price Performance

Shares of TX stock opened at $58.56 on Tuesday. The firm has a market cap of $11.74 billion, a P/E ratio of 16.45, a P/E/G ratio of 0.18 and a beta of 1.17. Ternium has a fifty-two week low of $33.01 and a fifty-two week high of $59.32. The business’s 50 day moving average price is $56.01 and its 200-day moving average price is $48.95. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.43 and a current ratio of 2.58.

Ternium (NYSE:TX) last posted its earnings results on Tuesday, June 30th. The basic materials company reported $1.80 earnings per share (EPS) for the quarter. The firm had revenue of $4.34 billion for the quarter. Ternium had a return on equity of 4.26% and a net margin of 4.37%. On average, equities research analysts anticipate that Ternium will post 6.49 earnings per share for the current year.

Institutional Trading of Ternium

A number of hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its position in shares of Ternium by 14.9% in the 3rd quarter. GAMMA Investing LLC now owns 2,489 shares of the basic materials company’s stock worth $135,000 after buying an additional 323 shares during the period. Engineers Gate Manager LP increased its stake in shares of Ternium by 496.8% in the 2nd quarter. Engineers Gate Manager LP now owns 56,337 shares of the basic materials company’s stock worth $2,406,000 after acquiring an additional 46,897 shares in the last quarter. Nykredit A S purchased a new position in Ternium during the 2nd quarter valued at about $10,564,000. Wellington Management Group LLP purchased a new position in Ternium during the 2nd quarter valued at about $5,704,000. Finally, Donald Smith & CO. Inc. purchased a new position in Ternium during the 2nd quarter valued at about $134,131,000. Institutional investors own 11.98% of the company’s stock.

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.