Ternium (NYSE:TX) Price Target Raised to $43.00

Key Points

• Wells Fargo raised Ternium's price target from $36.00 to $43.00 but maintained an "underweight" rating, implying roughly a 7.66% downside from the current share price.
• The stock's consensus rating is a "Moderate Buy" with a consensus target of $41.81; among 10 analysts there are 1 Strong Buy, 4 Buy, 4 Hold and 1 Sell.
• Shares traded at $46.57 (52‑week range $27.12–$49.69); Ternium has a market cap of $9.34B, a trailing P/E of 16.07, and reported quarterly EPS of $1.10 on $3.93B in revenue.

Ternium (NYSE:TX - Get Free Report) had its target price increased by equities research analysts at Wells Fargo & Company from $36.00 to $43.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an "underweight" rating on the basic materials company's stock. Wells Fargo & Company's target price suggests a potential downside of 7.66% from the company's current price.

TX has been the topic of a number of other reports. Zacks Research lowered shares of Ternium from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 29th. Scotiabank reaffirmed a "sector perform" rating and set a $40.00 price target on shares of Ternium in a report on Thursday, March 26th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $49.00 price objective on shares of Ternium in a report on Friday, April 24th. Bank of America raised Ternium from a "neutral" rating to a "buy" rating and set a $46.00 price target on the stock in a research note on Monday, April 13th. Finally, Weiss Ratings upgraded Ternium from a "hold (c)" rating to a "buy (b-)" rating in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $41.81.

Ternium Price Performance

NYSE TX traded down $1.85 on Thursday, reaching $46.57. The company's stock had a trading volume of 46,158 shares, compared to its average volume of 231,440. Ternium has a 52 week low of $27.12 and a 52 week high of $49.69. The firm has a market cap of $9.34 billion, a PE ratio of 16.07 and a beta of 1.26. The business has a 50-day moving average price of $41.10 and a 200 day moving average price of $39.88. The company has a current ratio of 2.49, a quick ratio of 1.45 and a debt-to-equity ratio of 0.12.

Ternium (NYSE:TX - Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The basic materials company reported $1.10 EPS for the quarter. The business had revenue of $3.93 billion for the quarter. Ternium had a return on equity of 3.71% and a net margin of 3.66%. Sell-side analysts expect that Ternium will post 4.18 EPS for the current year.

Institutional Trading of Ternium

A number of hedge funds and other institutional investors have recently bought and sold shares of TX. Lazard Asset Management LLC boosted its stake in shares of Ternium by 8.5% during the third quarter. Lazard Asset Management LLC now owns 5,813,570 shares of the basic materials company's stock valued at $201,905,000 after purchasing an additional 454,798 shares during the period. Cape Ann Asset Management Ltd lifted its stake in Ternium by 20.5% in the fourth quarter. Cape Ann Asset Management Ltd now owns 1,068,649 shares of the basic materials company's stock worth $40,812,000 after acquiring an additional 182,000 shares during the period. Millennium Management LLC boosted its position in Ternium by 569.4% during the 1st quarter. Millennium Management LLC now owns 126,827 shares of the basic materials company's stock valued at $3,952,000 after acquiring an additional 107,880 shares in the last quarter. Schroder Investment Management Group raised its position in shares of Ternium by 4.7% in the 3rd quarter. Schroder Investment Management Group now owns 2,279,273 shares of the basic materials company's stock worth $79,159,000 after acquiring an additional 101,748 shares in the last quarter. Finally, Donald Smith & CO. Inc. boosted its position in Ternium by 1.8% during the fourth quarter. Donald Smith & CO. Inc. now owns 3,808,645 shares of the basic materials company's stock valued at $145,452,000 after purchasing an additional 66,062 shares in the last quarter. Hedge funds and other institutional investors own 11.98% of the company's stock.

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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