Ternium (NYSE:TX) Stock Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Ternium shares rose above their 200-day moving average, reaching $56.08 and last trading at $55.71, compared with a 200-day average of $45.46.
• Analyst sentiment is generally positive, with six Buy ratings and five Holds producing a “Moderate Buy” consensus, although the $51.50 average price target is below the current share price.
• Ternium reported quarterly EPS of $1.80 on $4.34 billion in revenue, while institutional investors and hedge funds increased their positions; they collectively own 11.98% of the company.

Ternium S.A. (NYSE:TX - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $45.46 and traded as high as $56.08. Ternium shares last traded at $55.71, with a volume of 1,013,950 shares.

Wall Street Analysts Forecast Growth

TX has been the subject of several recent research reports. Bradesco Corretora upgraded shares of Ternium to an "outperform" rating and set a $62.00 price target for the company in a report on Tuesday, May 19th. 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. Zacks Research lowered shares of Ternium from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 30th. The Goldman Sachs Group reissued a "buy" rating and issued a $57.00 price objective on shares of Ternium in a research note on Friday, May 22nd. Finally, Itau BBA Securities upgraded Ternium from a "market perform" rating to an "outperform" rating and set a $59.00 target price for the company in a report on Sunday, May 24th. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Ternium has an average rating of "Moderate Buy" and a consensus target price of $51.50.

Ternium Stock Up 1.6%

The business's fifty day moving average price is $48.98 and its two-hundred day moving average price is $45.46. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.43 and a current ratio of 2.58. The firm has a market capitalization of $11.17 billion, a P/E ratio of 15.65, a PEG ratio of 0.17 and a beta of 1.25.

Ternium (NYSE:TX - Get Free Report) last posted 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 firm had revenue of $4.34 billion during the quarter. Equities analysts expect that Ternium S.A. will post 6.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ternium

A number of large investors have recently made changes to their positions in the business. Royal Bank of Canada lifted its holdings in shares of Ternium by 31.5% during the 1st quarter. Royal Bank of Canada now owns 26,965 shares of the basic materials company's stock valued at $840,000 after purchasing an additional 6,453 shares during the last quarter. Millennium Management LLC boosted its position in shares of Ternium by 569.4% in the 1st quarter. Millennium Management LLC now owns 126,827 shares of the basic materials company's stock worth $3,952,000 after purchasing an additional 107,880 shares in the last quarter. Invesco Ltd. grew its stake in Ternium by 58.4% during the 2nd quarter. Invesco Ltd. now owns 22,257 shares of the basic materials company's stock worth $670,000 after buying an additional 8,204 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Ternium during the 2nd quarter worth $214,000. Finally, Militia Capital Partners LP increased its position in Ternium by 16.1% during the 2nd quarter. Militia Capital Partners LP now owns 36,084 shares of the basic materials company's stock valued at $1,086,000 after buying an additional 5,000 shares in the last quarter. 11.98% of the stock is 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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