Ternium (NYSE:TX) Hits New 52-Week High - Here's Why

Key Points

• Ternium shares reached a new 52-week high, trading as high as $59.32 and closing the session up 2.3% at $58.07.
• Analyst sentiment has improved, including JPMorgan’s price-target increase to $67.50 and upgrades from Zacks Research and Wall Street Zen. The stock carries a consensus “Moderate Buy” rating, though the average target of $54.50 is below its current price.
• Ternium reported quarterly earnings of $1.80 per share on $4.34 billion in revenue, while institutional investors own approximately 11.98% of the company.

Ternium S.A. (NYSE:TX - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday. The company traded as high as $59.32 and last traded at $58.07, with a volume of 128764 shares. The stock had previously closed at $56.61.

Analyst Upgrades and Downgrades

Several research analysts have commented on TX shares. HSBC reiterated a "hold" rating and set a $55.00 price target (up from $53.00) on shares of Ternium in a report on Friday, August 21st. Zacks Research raised shares of Ternium from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 11th. Wall Street Zen upgraded shares of Ternium from a "buy" rating to a "strong-buy" rating in a research note on Sunday, July 12th. Wells Fargo & Company raised Ternium from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $43.00 to $45.00 in a report on Thursday, July 9th. Finally, JPMorgan Chase & Co. raised their price target on Ternium from $60.50 to $67.50 and gave the company an "overweight" rating in a research note on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.50.

Ternium Trading Up 2.3%

The business's 50 day simple moving average is $54.72 and its 200 day simple moving average is $47.86. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.58 and a quick ratio of 1.43. The company has a market capitalization of $11.61 billion, a price-to-earnings ratio of 16.27, a price-to-earnings-growth ratio of 0.17 and a beta of 1.17.

Ternium (NYSE:TX - Get Free Report) last announced its earnings results 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 S.A. will post 6.54 EPS for the current year.

Institutional Trading of Ternium

A number of institutional investors have recently modified their holdings of TX. Parallel Advisors LLC boosted its position in shares of Ternium by 101.2% during the 1st quarter. Parallel Advisors LLC now owns 805 shares of the basic materials company's stock worth $32,000 after purchasing an additional 405 shares in the last quarter. GAMMA Investing LLC raised its position in Ternium by 18.0% during the second quarter. GAMMA Investing LLC now owns 2,166 shares of the basic materials company's stock worth $92,000 after acquiring an additional 331 shares during the last quarter. Ritholtz Wealth Management acquired a new position in Ternium during the first quarter worth about $208,000. Janney Montgomery Scott LLC purchased a new stake in shares of Ternium in the first quarter valued at about $210,000. Finally, Arkadios Wealth Advisors purchased a new stake in shares of Ternium in the first quarter valued at about $264,000. 11.98% of the stock is currently owned by hedge funds and other institutional investors.

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.

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