Ternium (NYSE:TX – Get Free Report) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday, Zacks reports.
Several other research firms also recently commented on TX. Wall Street Zen upgraded Ternium from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 12th. UBS Group upped their price target on Ternium from $56.00 to $59.00 and gave the company a “neutral” rating in a research report on Thursday, August 27th. Weiss Ratings upgraded Ternium from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, September 10th. HSBC reiterated a “hold” rating and set a $55.00 price objective (up from $53.00) on shares of Ternium in a research note on Friday, August 21st. Finally, Wells Fargo & Company lifted their price objective on Ternium from $52.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, October 6th. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.72.
Get Our Latest Stock Report on TX
Ternium Stock Performance
Ternium (NYSE:TX – Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The basic materials company reported $1.80 earnings per share for the quarter. Ternium had a return on equity of 4.26% and a net margin of 4.37%. The company had revenue of $4.34 billion for the quarter. Research analysts anticipate that Ternium will post 6.49 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Ternium
Several institutional investors have recently bought and sold shares of the business. Donald Smith & CO. Inc. bought a new position in Ternium during the 2nd quarter worth approximately $134,131,000. Lazard Asset Management LLC increased its stake in Ternium by 8.0% in the first quarter. Lazard Asset Management LLC now owns 6,336,127 shares of the basic materials company’s stock valued at $254,395,000 after purchasing an additional 469,846 shares in the last quarter. Nykredit A S bought a new stake in Ternium in the second quarter valued at approximately $14,329,000. Wellington Management Group LLP bought a new stake in Ternium in the second quarter valued at approximately $5,704,000. Finally, Amundi raised its holdings in Ternium by 19.9% in the first 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 period. Institutional investors own 11.98% of the company’s stock.
Ternium Company Profile
Ternium SA (NYSE: TX) is a steel producer serving customers primarily in the Americas. The company manufactures a broad range of steel products, including flat steel, long steel, slabs, billets, galvanized and pre-painted steel, and other value-added products used in construction, automotive manufacturing, appliances, energy, machinery, and other industrial applications.
Ternium operates an integrated steelmaking and processing network with production and distribution activities in countries including Mexico, Brazil, Argentina, Colombia, and the United States.
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