Ternium (NYSE:TX – Get Free Report) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.
Other equities analysts also recently issued research reports about the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ternium in a research report on Wednesday, May 20th. Bradesco Corretora upgraded Ternium to an “outperform” rating and set a $62.00 price objective for the company in a research report on Tuesday, May 19th. Wall Street Zen raised Ternium from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 12th. The Goldman Sachs Group reiterated a “buy” rating and set a $57.00 target price on shares of Ternium in a research report on Friday, May 22nd. Finally, Bank of America raised shares of 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. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.94.
View Our Latest Analysis on TX
Ternium Stock Up 0.3%
Ternium (NYSE:TX – Get Free Report) last posted its earnings results on Tuesday, March 31st. The basic materials company reported $1.10 earnings per share (EPS) for the quarter. Ternium had a net margin of 3.66% and a return on equity of 3.70%. The business had revenue of $3.93 billion for the quarter. On average, research analysts expect that Ternium will post 5.71 earnings per share for the current year.
Hedge Funds Weigh In On Ternium
Several hedge funds and other institutional investors have recently modified their holdings of TX. Lazard Asset Management LLC grew its stake in Ternium by 8.0% during the 1st quarter. Lazard Asset Management LLC now owns 6,336,127 shares of the basic materials company’s stock valued at $254,395,000 after acquiring an additional 469,846 shares in the last quarter. Donald Smith & CO. Inc. lifted its stake in Ternium by 1.8% in the 4th quarter. Donald Smith & CO. Inc. now owns 3,808,645 shares of the basic materials company’s stock worth $145,452,000 after purchasing an additional 66,062 shares in the last quarter. Cape Ann Asset Management Ltd lifted its stake in Ternium by 20.5% in the 4th quarter. Cape Ann Asset Management Ltd now owns 1,068,649 shares of the basic materials company’s stock worth $40,812,000 after purchasing an additional 182,000 shares in the last quarter. Amundi boosted its holdings in shares of Ternium by 19.9% during the 1st quarter. Amundi now owns 703,304 shares of the basic materials company’s stock worth $28,238,000 after purchasing an additional 116,813 shares during the last quarter. Finally, Empirical Finance LLC boosted its holdings in shares of Ternium by 69.4% during the 1st quarter. Empirical Finance LLC now owns 161,171 shares of the basic materials company’s stock worth $6,471,000 after purchasing an additional 66,042 shares during the last quarter. 11.98% of the stock is owned by hedge funds and other institutional investors.
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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