Ternium (NYSE:TX) Given New $67.50 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan raised Ternium’s price target from $60.50 to $67.50 and maintained an “overweight” rating, implying 16.58% potential upside from the reported $57.90 share price.
• Analyst sentiment is generally positive, with six Buy ratings and five Holds producing a consensus “Moderate Buy” rating and an average price target of $54.50.
• Ternium reported quarterly EPS of $1.80 on $4.34 billion in revenue, while institutional ownership stands at 11.98%; several investment firms recently increased or initiated positions.

Ternium (NYSE:TX - Get Free Report) had its price objective upped by analysts at JPMorgan Chase & Co. from $60.50 to $67.50 in a research report issued on Friday, Benzinga reports. The brokerage presently has an "overweight" rating on the basic materials company's stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 16.58% from the stock's current price.

A number of other equities research analysts have also recently commented on TX. Zacks Research cut shares of Ternium from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 30th. HSBC reiterated a "hold" rating and set a $55.00 price objective (up from $53.00) on shares of Ternium in a report on Friday, August 21st. Bradesco Corretora raised shares of Ternium to an "outperform" rating and set a $62.00 price objective on the stock in a research report on Tuesday, May 19th. UBS Group raised their target price on Ternium from $56.00 to $59.00 and gave the company a "neutral" rating in a research note on Thursday, August 27th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $57.00 target price on shares of Ternium in a research report on Friday, May 22nd. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Ternium presently has a consensus rating of "Moderate Buy" and an average price target of $54.50.

Ternium Price Performance

Shares of TX opened at $57.90 on Friday. The firm has a market cap of $11.61 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 0.18 and a beta of 1.25. Ternium has a 52-week low of $33.01 and a 52-week high of $58.24. The business's 50 day moving average price is $49.47 and its two-hundred day moving average price is $45.64. 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 - Get Free Report) last announced its quarterly earnings data on Tuesday, June 30th. The basic materials company reported $1.80 EPS for the quarter. Ternium had a net margin of 4.37% and a return on equity of 4.26%. The company had revenue of $4.34 billion during the quarter. On average, equities analysts anticipate that Ternium will post 6.07 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Donald Smith & CO. Inc. bought a new stake in shares of Ternium in the 2nd quarter worth $134,131,000. Militia Capital Management LLC purchased a new stake in shares of Ternium in the first quarter valued at about $1,486,000. Amundi increased its stake in Ternium by 19.9% in the 1st quarter. Amundi now owns 703,304 shares of the basic materials company's stock valued at $28,238,000 after buying an additional 116,813 shares during the last quarter. Empowered Funds LLC increased its stake in Ternium by 69.4% in the 1st quarter. Empowered Funds LLC now owns 161,171 shares of the basic materials company's stock valued at $6,471,000 after buying an additional 66,042 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of 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 worth $254,395,000 after buying an additional 469,846 shares in the last quarter. 11.98% of the stock is currently owned by institutional investors and hedge funds.

About Ternium

Ternium SA NYSE: TX is a leading vertically integrated steel producer with operations across the Americas. The company manufactures a broad range of flat and long steel products, including hot‐rolled and cold‐rolled coils, galvanized and tin-coated sheets, plates, rebars, wire rods, bars and structural sections. These products serve diverse end markets such as automotive, construction, energy, industrial machinery, home appliances and packaging.

Established in 2005 through the consolidation of steel assets in Argentina and Mexico, Ternium has grown to operate major production facilities in Argentina, Brazil, Mexico, Colombia, Central America and the United States.

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