Ternium (NYSE:TX) Upgraded to "Buy" at Wall Street Zen

Key Points

• Ternium (NYSE:TX) was upgraded by Wall Street Zen from “hold” to “buy”, adding to a mixed but generally constructive analyst picture for the steel producer.
• Analyst sentiment remains balanced overall: the stock carries a “Moderate Buy” consensus with an average price target of $41.81, while recent calls have ranged from bullish to cautious.
• Ternium reported Q1 EPS of $1.10 on $3.93 billion in revenue, and the stock recently traded at $46.89, near its 12-month high of $49.69.

Ternium (NYSE:TX - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

Other analysts also recently issued research reports about the stock. Scotiabank reissued a "sector perform" rating and issued a $40.00 price objective on shares of Ternium in a report on Thursday, March 26th. Wells Fargo & Company boosted their target price on shares of Ternium from $36.00 to $43.00 and gave the company an "underweight" rating in a research report on Thursday. The Goldman Sachs Group restated a "buy" rating and issued a $49.00 target price on shares of Ternium in a research report on Friday, April 24th. Zacks Research cut shares of Ternium from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 29th. Finally, UBS Group boosted their target price on shares of Ternium from $39.00 to $41.00 and gave the company a "neutral" rating in a research report on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $41.81.

Ternium Stock Performance

NYSE TX opened at $46.89 on Friday. The company has a quick ratio of 1.45, a current ratio of 2.63 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $9.40 billion, a P/E ratio of 16.11 and a beta of 1.26. Ternium has a 12-month low of $27.12 and a 12-month high of $49.69. The firm has a 50-day moving average price of $41.16 and a two-hundred day moving average price of $39.96.

Ternium (NYSE:TX - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The basic materials company reported $1.10 earnings per share (EPS) for the quarter. The firm had revenue of $3.93 billion during the quarter. Ternium had a net margin of 3.66% and a return on equity of 3.70%. Analysts anticipate that Ternium will post 4.14 earnings per share for the current year.

Hedge Funds Weigh In On Ternium

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allianz Asset Management GmbH increased its position in Ternium by 64.7% during the 3rd quarter. Allianz Asset Management GmbH now owns 58,115 shares of the basic materials company's stock worth $2,018,000 after purchasing an additional 22,823 shares in the last quarter. Schroder Investment Management Group increased its position in Ternium by 4.7% during 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 purchasing an additional 101,748 shares in the last quarter. Advisors Preferred LLC acquired a new position in Ternium during the 3rd quarter worth approximately $1,159,000. Prudential PLC increased its position in Ternium by 5.5% during the 3rd quarter. Prudential PLC now owns 717,593 shares of the basic materials company's stock worth $24,922,000 after purchasing an additional 37,408 shares in the last quarter. Finally, Deprince Race & Zollo Inc. increased its position in Ternium by 17.3% during the 4th quarter. Deprince Race & Zollo Inc. now owns 118,482 shares of the basic materials company's stock worth $4,525,000 after purchasing an additional 17,461 shares in the last quarter. 11.98% of the stock is currently 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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