Ternium (NYSE:TX) Share Price Passes Above Two Hundred Day Moving Average - What's Next?

Ternium S.A. (NYSE:TX - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $29.39 and traded as high as $29.61. Ternium shares last traded at $29.57, with a volume of 242,462 shares traded.

Analysts Set New Price Targets

Several equities analysts recently weighed in on TX shares. UBS Group initiated coverage on Ternium in a research note on Wednesday, March 12th. They issued a "neutral" rating and a $32.00 price objective for the company. The Goldman Sachs Group dropped their price target on Ternium from $39.00 to $35.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Finally, Bank of America reiterated an "underperform" rating and issued a $25.00 price objective on shares of Ternium in a research report on Monday, April 7th.

Ternium Price Performance

The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.76 and a current ratio of 3.00. The company has a 50-day moving average of $28.77 and a 200-day moving average of $29.40. The stock has a market capitalization of $5.99 billion, a price-to-earnings ratio of -16.79 and a beta of 1.48.

Ternium (NYSE:TX - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The basic materials company reported $0.55 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $4 billion. During the same quarter last year, the business posted $1.84 earnings per share. Ternium's revenue was down 17.7% compared to the same quarter last year. As a group, equities research analysts expect that Ternium S.A. will post 4.37 earnings per share for the current fiscal year.

Institutional Trading of Ternium

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TX. NewEdge Advisors LLC lifted its holdings in Ternium by 500.0% in the 4th quarter. NewEdge Advisors LLC now owns 1,200 shares of the basic materials company's stock valued at $35,000 after purchasing an additional 1,000 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Ternium in the fourth quarter valued at approximately $54,000. Headlands Technologies LLC lifted its stake in shares of Ternium by 249.5% during the fourth quarter. Headlands Technologies LLC now owns 1,681 shares of the basic materials company's stock valued at $49,000 after buying an additional 1,200 shares during the period. GAMMA Investing LLC boosted its position in Ternium by 51.8% during the first quarter. GAMMA Investing LLC now owns 1,913 shares of the basic materials company's stock worth $60,000 after acquiring an additional 653 shares during the last quarter. Finally, Brooklyn Investment Group grew its stake in Ternium by 201,700.0% in the 1st quarter. Brooklyn Investment Group now owns 2,018 shares of the basic materials company's stock worth $63,000 after acquiring an additional 2,017 shares during the period. Hedge funds and other 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.