Zacks Research upgraded shares of Ternium (NYSE:TX – Free Report) from a hold rating to a strong-buy rating in a report published on Tuesday,Zacks.com reports.
TX has been the subject of a number of other reports. Weiss Ratings restated a “buy (b-)” rating on shares of Ternium in a report on Wednesday, May 20th. UBS Group raised their price objective on shares of Ternium from $39.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, April 2nd. Bank of America upgraded shares of Ternium from a “neutral” rating to a “buy” rating and set a $46.00 target price for the company in a research report on Monday, April 13th. Bradesco Corretora upgraded shares of Ternium to an “outperform” rating and set a $62.00 target price for the company in a research report on Tuesday, May 19th. Finally, Scotiabank restated a “sector perform” rating and set a $40.00 price target on shares of Ternium in a report on Thursday, March 26th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Ternium has an average rating of “Moderate Buy” and an average price target of $46.35.
Read Our Latest Research Report on Ternium
Ternium Price Performance
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 business 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 4.73 earnings per share for the current year.
Institutional Trading of Ternium
Several institutional investors have recently made changes to their positions in TX. Royal Bank of Canada boosted its position in shares of Ternium by 31.5% during the 1st quarter. Royal Bank of Canada now owns 26,965 shares of the basic materials company’s stock valued at $840,000 after acquiring an additional 6,453 shares in the last quarter. Millennium Management LLC raised its stake in shares of Ternium by 569.4% in the first quarter. Millennium Management LLC now owns 126,827 shares of the basic materials company’s stock worth $3,952,000 after acquiring an additional 107,880 shares during the last quarter. Invesco Ltd. raised its stake in shares of Ternium by 58.4% in the second quarter. Invesco Ltd. now owns 22,257 shares of the basic materials company’s stock worth $670,000 after acquiring an additional 8,204 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Ternium during the second quarter worth approximately $214,000. Finally, Militia Capital Partners LP raised its stake in shares of Ternium by 16.1% during the second quarter. Militia Capital Partners LP now owns 36,084 shares of the basic materials company’s stock worth $1,086,000 after buying an additional 5,000 shares during 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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