Ternium SA’s (TX) Hold Rating Reaffirmed at Credit Suisse Group AG
Credit Suisse Group AG reiterated their hold rating on shares of Ternium SA (NYSE:TX) in a research report sent to investors on Tuesday morning. The firm currently has a $21.00 price target on the stock.
Several other research firms also recently commented on TX. Zacks Investment Research upgraded Ternium SA from a hold rating to a buy rating and set a $26.00 price objective for the company in a report on Saturday, August 6th. TheStreet upgraded Ternium SA from a hold rating to a buy rating in a report on Tuesday, August 2nd. Finally, JPMorgan Chase & Co. upped their price target on Ternium SA from $27.00 to $29.50 and gave the stock an overweight rating in a report on Friday, August 5th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Ternium SA presently has a consensus rating of Buy and an average target price of $22.68.
Ternium SA (NYSE:TX) opened at 18.89 on Tuesday. The firm has a market capitalization of $3.71 billion, a P/E ratio of 25.22 and a beta of 1.59. The firm’s 50-day moving average is $20.52 and its 200-day moving average is $19.66. Ternium SA has a 52-week low of $10.28 and a 52-week high of $23.60.
Ternium SA (NYSE:TX) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.14. The business earned $1.86 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period last year, the firm posted $0.21 earnings per share. Ternium SA’s quarterly revenue was down 6.7% compared to the same quarter last year. On average, equities analysts expect that Ternium SA will post $2.53 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Smith Asset Management Group LP acquired a new position in shares of Ternium SA during the second quarter worth about $198,000. Bank of Montreal Can acquired a new position in shares of Ternium SA during the second quarter worth about $1,240,000. Dorsey Wright & Associates acquired a new position in shares of Ternium SA during the second quarter worth about $342,000. Acadian Asset Management LLC increased its position in shares of Ternium SA by 64.9% in the second quarter. Acadian Asset Management LLC now owns 6,431,660 shares of the company’s stock worth $122,584,000 after buying an additional 2,532,434 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in shares of Ternium SA during the second quarter worth about $330,000.
Ternium SA Company Profile
Ternium SA is a steel producer in Latin America. The Company manufactures and processes a range of steel products, including galvanized and electro-galvanized sheets, pre-painted sheets, tinplate, welded pipes, hot-rolled flat products, cold-rolled products, bars and wire rods, as well as slitted and cut-to-length offerings through its service centers.
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