JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Ternium (NYSE:TX) Stock

Key Points

• JPMorgan Chase & Co. has increased its price target for Ternium (NYSE:TX) from $39.00 to $40.50, suggesting a potential upside of 14.42% from the stock's previous close.
• The stock currently has an average rating of "Hold" from analysts, with four analysts rating it as a Buy, three as Hold, and two as Sell.
• Ternium's stock recently traded at $35.40, with a debt-to-equity ratio of 0.12 and a market capitalization of $7.10 billion.

Ternium (NYSE:TX - Get Free Report) had its price objective hoisted by analysts at JPMorgan Chase & Co. from $39.00 to $40.50 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the basic materials company's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 14.42% from the stock's previous close.

A number of other research analysts have also recently weighed in on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Ternium in a report on Wednesday, October 8th. Morgan Stanley cut shares of Ternium from an "overweight" rating to an "equal weight" rating and set a $34.00 price target for the company. in a report on Monday, July 21st. HSBC set a $41.00 price target on shares of Ternium and gave the stock a "buy" rating in a report on Friday. Wells Fargo & Company upgraded shares of Ternium to a "strong sell" rating in a report on Thursday, August 14th. Finally, Scotiabank lowered their price target on shares of Ternium from $41.00 to $40.00 and set a "sector outperform" rating for the company in a report on Wednesday, September 3rd. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $34.69.

Ternium Stock Up 0.2%

Shares of TX stock traded up $0.09 during trading on Friday, reaching $35.40. The company's stock had a trading volume of 24,433 shares, compared to its average volume of 219,702. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 1.59. The company has a market capitalization of $7.10 billion, a price-to-earnings ratio of 11.69 and a beta of 1.52. The stock's 50-day moving average price is $34.22 and its 200 day moving average price is $31.09. Ternium has a 1-year low of $24.00 and a 1-year high of $37.43.

Ternium (NYSE:TX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The basic materials company reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.62. The firm had revenue of $3.95 billion during the quarter, compared to analysts' expectations of $4.19 billion. Ternium had a net margin of 3.66% and a return on equity of 1.95%. The business's quarterly revenue was down 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.11) earnings per share. On average, research analysts anticipate that Ternium will post 4.37 EPS for the current year.

Institutional Investors Weigh In On Ternium

A number of large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. grew its stake in Ternium by 17.5% in the 3rd quarter. Blue Trust Inc. now owns 2,247 shares of the basic materials company's stock valued at $78,000 after acquiring an additional 335 shares during the last quarter. GAMMA Investing LLC grew its stake in Ternium by 40.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,061 shares of the basic materials company's stock valued at $37,000 after acquiring an additional 303 shares during the last quarter. State of Wyoming acquired a new stake in Ternium in the 2nd quarter valued at about $119,000. Caxton Associates LLP grew its stake in Ternium by 2.8% in the 2nd quarter. Caxton Associates LLP now owns 17,819 shares of the basic materials company's stock valued at $536,000 after acquiring an additional 484 shares during the last quarter. Finally, Rexford Capital Inc. acquired a new stake in Ternium in the 2nd quarter valued at about $121,000. 11.98% of the stock is owned by institutional investors and hedge funds.

Ternium Company Profile

Ternium SA, together with its subsidiaries, manufactures and distributes steel products in Mexico, Southern Region, Brazil, and internationally. It operates through three segments: Steel, Mining, and Usiminas. The Steel segment offers slabs, hot and cold rolled products, coated products, roll formed and tubular products, bars, billets, and other products.

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