Ternium (NYSE:TX) Price Target Raised to $54.00

Ternium (NYSE:TX - Get Free Report) had its price objective increased by equities researchers at The Goldman Sachs Group from $49.00 to $54.00 in a report issued on Thursday, Benzinga reports. The firm presently has a "buy" rating on the basic materials company's stock. The Goldman Sachs Group's target price indicates a potential upside of 28.30% from the company's current price.

A number of other equities analysts also recently issued reports on the stock. TheStreet raised shares of Ternium from a "c+" rating to a "b-" rating in a report on Friday, January 12th. JPMorgan Chase & Co. lifted their price objective on shares of Ternium from $48.00 to $51.50 and gave the stock an "overweight" rating in a report on Thursday, March 21st. Three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $50.83.

Ternium Stock Up 2.6 %

NYSE TX traded up $1.08 during mid-day trading on Thursday, hitting $42.09. The company's stock had a trading volume of 390,993 shares, compared to its average volume of 152,877. The company's 50 day simple moving average is $39.63 and its 200 day simple moving average is $39.28. Ternium has a twelve month low of $35.22 and a twelve month high of $45.58. The company has a current ratio of 3.16, a quick ratio of 1.86 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $8.44 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 0.92 and a beta of 1.69.

Ternium (NYSE:TX - Get Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The basic materials company reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.79. Ternium had a net margin of 3.84% and a return on equity of 10.84%. The business had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $4.94 billion. During the same quarter last year, the firm posted $0.20 EPS. Ternium's revenue was up 39.1% compared to the same quarter last year. Analysts anticipate that Ternium will post 8.48 earnings per share for the current year.

Hedge Funds Weigh In On Ternium

Several institutional investors and hedge funds have recently modified their holdings of TX. Commonwealth Equity Services LLC boosted its position in shares of Ternium by 3.4% during the second quarter. Commonwealth Equity Services LLC now owns 7,647 shares of the basic materials company's stock valued at $303,000 after buying an additional 248 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Ternium by 19.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,759 shares of the basic materials company's stock worth $75,000 after purchasing an additional 287 shares during the last quarter. WealthTrust Axiom LLC boosted its position in Ternium by 1.0% in the fourth quarter. WealthTrust Axiom LLC now owns 29,400 shares of the basic materials company's stock worth $1,249,000 after purchasing an additional 300 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Ternium by 49.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,053 shares of the basic materials company's stock worth $45,000 after purchasing an additional 350 shares during the last quarter. Finally, Citigroup Inc. boosted its position in Ternium by 20.1% in the fourth quarter. Citigroup Inc. now owns 2,132 shares of the basic materials company's stock worth $65,000 after purchasing an additional 357 shares during the last quarter. 11.98% of the stock is currently owned by institutional investors.

About Ternium

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.