Ternium (NYSE:TX) Stock Rating Upgraded by Wells Fargo & Company

Key Points

• Ternium's stock rating has been upgraded by Wells Fargo & Company to a "strong sell," while other analysts have varied ratings from sell to buy.
• The company reported EPS of $1.28 for the last quarter, significantly above the consensus estimate of $0.66, although revenue fell 12.6% year over year.
• Institutional investors have increased their holdings in Ternium significantly, with Hantz Financial Services Inc. boosting their stake by 1,361% in the second quarter.

Wells Fargo & Company upgraded shares of Ternium (NYSE:TX - Free Report) to a strong sell rating in a research note released on Thursday,Zacks.com reports.

Several other analysts also recently commented on TX. Scotiabank lowered their price objective on Ternium from $53.00 to $41.00 and set a "sector outperform" rating for the company in a research note on Thursday, July 17th. Morgan Stanley downgraded Ternium from an "overweight" rating to an "equal weight" rating and set a $34.00 price target on the stock. in a research report on Monday, July 21st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Ternium presently has an average rating of "Hold" and an average price target of $32.83.

Ternium Stock Performance

Shares of NYSE TX traded up $0.19 during midday trading on Thursday, hitting $32.97. 6,048 shares of the company's stock were exchanged, compared to its average volume of 228,227. The company's 50 day moving average price is $31.18 and its 200 day moving average price is $29.97. The firm has a market capitalization of $6.61 billion, a PE ratio of 10.88 and a beta of 1.53. Ternium has a 12 month low of $24.00 and a 12 month high of $37.98. The company has a quick ratio of 1.59, a current ratio of 2.68 and a debt-to-equity ratio of 0.12.

Ternium (NYSE:TX - Get Free Report) last issued its earnings results on Tuesday, July 29th. The basic materials company reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.62. Ternium had a return on equity of 1.95% and a net margin of 3.66%. The business had revenue of $3.95 billion during the quarter, compared to analysts' expectations of $4.19 billion. During the same quarter in the prior year, the firm earned ($0.11) EPS. The business's revenue for the quarter was down 12.6% compared to the same quarter last year. As a group, analysts predict that Ternium will post 4.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ternium

A number of large investors have recently made changes to their positions in TX. Aquatic Capital Management LLC lifted its stake in Ternium by 28.4% in the 4th quarter. Aquatic Capital Management LLC now owns 2,182 shares of the basic materials company's stock valued at $63,000 after buying an additional 482 shares in the last quarter. Caxton Associates LLP increased its holdings in shares of Ternium by 2.8% during the 2nd quarter. Caxton Associates LLP now owns 17,819 shares of the basic materials company's stock worth $536,000 after buying an additional 484 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Ternium by 51.8% during the 1st quarter. GAMMA Investing LLC now owns 1,913 shares of the basic materials company's stock worth $60,000 after buying an additional 653 shares during the last quarter. Boston Partners increased its holdings in shares of Ternium by 4.1% during the 1st quarter. Boston Partners now owns 20,994 shares of the basic materials company's stock worth $654,000 after buying an additional 827 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of Ternium by 10.1% during the 1st quarter. Cetera Investment Advisers now owns 9,671 shares of the basic materials company's stock worth $301,000 after buying an additional 890 shares during the last quarter. 11.98% of the stock is owned by hedge funds and other institutional investors.

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.