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

Key Points

• Wall Street Zen has upgraded Ternium from a "hold" rating to a "buy" rating, reflecting a positive outlook for the company's stock.
• Currently, Ternium's stock has an average rating of "hold" with a consensus price target of $32.83, despite mixed ratings from other analysts.
• The company's recent earnings report showed an EPS of $1.28, exceeding expectations, while revenue declined by 12.6% year-over-year.

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

A number of other research firms have also recently weighed in on TX. Wells Fargo & Company raised Ternium to a "strong sell" rating in a report on Thursday, August 14th. Morgan Stanley cut Ternium from an "overweight" rating to an "equal weight" rating and set a $34.00 price objective for the company. in a research report on Monday, July 21st. Finally, Scotiabank reduced their target price on shares of Ternium from $53.00 to $41.00 and set a "sector outperform" rating on the stock in a report on Thursday, July 17th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $32.67.

Ternium Price Performance

Shares of TX stock traded up $0.33 during trading hours on Friday, hitting $33.61. The company's stock had a trading volume of 80,547 shares, compared to its average volume of 227,140. The company has a current ratio of 2.68, a quick ratio of 1.59 and a debt-to-equity ratio of 0.12. The business has a fifty day moving average of $31.88 and a 200-day moving average of $30.18. Ternium has a twelve month low of $24.00 and a twelve month high of $37.98. The stock has a market cap of $6.74 billion, a price-to-earnings ratio of 11.09 and a beta of 1.47.

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

Institutional Investors Weigh In On Ternium

Institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC raised its holdings in shares of Ternium by 500.0% in the 4th quarter. NewEdge Advisors LLC now owns 1,200 shares of the basic materials company's stock worth $35,000 after purchasing an additional 1,000 shares during the period. Aquatic Capital Management LLC increased its position in Ternium by 28.4% during the 4th quarter. Aquatic Capital Management LLC now owns 2,182 shares of the basic materials company's stock worth $63,000 after purchasing an additional 482 shares in the last quarter. Bearing Point Capital LLC purchased a new position in Ternium in the fourth quarter valued at approximately $459,000. Bank of America Corp DE lifted its position in Ternium by 4.4% during the fourth quarter. Bank of America Corp DE now owns 80,912 shares of the basic materials company's stock valued at $2,353,000 after buying an additional 3,398 shares in the last quarter. Finally, Cornerstone Select Advisors LLC acquired a new position in Ternium during the fourth quarter valued at approximately $215,000. 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.