Ternium (NYSE:TX) Price Target Lowered to $41.00 at Scotiabank

Ternium (NYSE:TX - Get Free Report) had its target price dropped by equities researchers at Scotiabank from $53.00 to $41.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "sector outperform" rating on the basic materials company's stock. Scotiabank's price objective would indicate a potential upside of 34.87% from the stock's current price.

Several other brokerages have also issued reports on TX. Bank of America reaffirmed an "underperform" rating and issued a $25.00 target price on shares of Ternium in a research note on Monday, April 7th. The Goldman Sachs Group dropped their target price on Ternium from $39.00 to $35.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $33.25.

Ternium Stock Down 0.9%

Ternium stock traded down $0.28 during trading on Thursday, hitting $30.40. 79,728 shares of the company were exchanged, compared to its average volume of 213,278. The business's 50 day moving average is $29.68 and its 200 day moving average is $29.57. The company has a current ratio of 3.00, a quick ratio of 1.76 and a debt-to-equity ratio of 0.12. Ternium has a 52 week low of $24.00 and a 52 week high of $37.98. The company has a market capitalization of $6.09 billion, a P/E ratio of -17.08 and a beta of 1.48.

Ternium (NYSE:TX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The basic materials company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.22. Ternium had a positive return on equity of 0.29% and a negative net margin of 2.07%. The firm had revenue of $3.93 billion for the quarter, compared to analysts' expectations of $4 billion. During the same quarter in the prior year, the firm earned $1.84 EPS. The business's revenue for the quarter was down 17.7% compared to the same quarter last year. Analysts predict that Ternium will post 4.37 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Mitsubishi UFJ Trust & Banking Corp grew its stake in Ternium by 14.4% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 10,250 shares of the basic materials company's stock worth $298,000 after purchasing an additional 1,289 shares in the last quarter. Wellington Management Group LLP grew its stake in Ternium by 15.5% in the fourth quarter. Wellington Management Group LLP now owns 208,827 shares of the basic materials company's stock worth $6,073,000 after purchasing an additional 28,054 shares in the last quarter. Headlands Technologies LLC grew its stake in Ternium by 249.5% in the fourth quarter. Headlands Technologies LLC now owns 1,681 shares of the basic materials company's stock worth $49,000 after purchasing an additional 1,200 shares in the last quarter. Donald Smith & CO. Inc. grew its stake in Ternium by 19.0% in the fourth quarter. Donald Smith & CO. Inc. now owns 3,022,803 shares of the basic materials company's stock worth $87,903,000 after purchasing an additional 483,052 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in Ternium by 8.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 32,080 shares of the basic materials company's stock worth $933,000 after purchasing an additional 2,462 shares in the last quarter. Institutional investors own 11.98% of the company's stock.

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.