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

Key Points

• Zacks Research downgraded Ternium from “strong buy” to “hold,” although the broader analyst consensus remains “moderate buy,” with six Buy ratings and five Hold ratings.
• Analysts’ average price target is $55.72, below the stock’s reported opening price of $58.56; other firms set targets ranging from $55 to $59 while maintaining mostly neutral or positive views.
• Ternium reported quarterly revenue of $4.34 billion and earnings of $1.80 per share, while institutional investors own 11.98% of the company and several funds recently increased or initiated positions.

Ternium (NYSE:TX - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Tuesday, Zacks reports.

Several other research firms also recently commented on TX. Wall Street Zen upgraded Ternium from a "buy" rating to a "strong-buy" rating in a research report on Sunday, July 12th. UBS Group upped their price target on Ternium from $56.00 to $59.00 and gave the company a "neutral" rating in a research report on Thursday, August 27th. Weiss Ratings upgraded Ternium from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, September 10th. HSBC reiterated a "hold" rating and set a $55.00 price objective (up from $53.00) on shares of Ternium in a research note on Friday, August 21st. Finally, Wells Fargo & Company lifted their price objective on Ternium from $52.00 to $56.00 and gave the company an "equal weight" rating in a report on Tuesday, October 6th. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $55.72.

Ternium Stock Performance

NYSE:TX opened at $58.56 on Tuesday. The firm has a market capitalization of $11.74 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 0.18 and a beta of 1.17. The company has a quick ratio of 1.43, a current ratio of 2.58 and a debt-to-equity ratio of 0.14. Ternium has a 12-month low of $33.01 and a 12-month high of $59.32. The firm has a 50-day moving average price of $56.01 and a 200 day moving average price of $48.95.

Ternium (NYSE:TX - Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The basic materials company reported $1.80 earnings per share for the quarter. Ternium had a return on equity of 4.26% and a net margin of 4.37%. The company had revenue of $4.34 billion for the quarter. Research analysts anticipate that Ternium will post 6.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ternium

Several institutional investors have recently bought and sold shares of the business. Donald Smith & CO. Inc. bought a new position in Ternium during the 2nd quarter worth approximately $134,131,000. Lazard Asset Management LLC increased its stake in Ternium by 8.0% in the first quarter. Lazard Asset Management LLC now owns 6,336,127 shares of the basic materials company's stock valued at $254,395,000 after purchasing an additional 469,846 shares in the last quarter. Nykredit A S bought a new stake in Ternium in the second quarter valued at approximately $14,329,000. Wellington Management Group LLP bought a new stake in Ternium in the second quarter valued at approximately $5,704,000. Finally, Amundi raised its holdings in Ternium by 19.9% in the first quarter. Amundi now owns 703,304 shares of the basic materials company's stock worth $28,238,000 after purchasing an additional 116,813 shares during the period. Institutional investors own 11.98% of the company's stock.

Ternium Company Profile

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.

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