Ternium SA (TX) Downgraded to Hold at Zacks Investment Research
According to Zacks, “Ternium is the leading producer of flat and long steel products of Latin America and consolidates the operations of the steel companies Hylsa in Mexico, Siderar in Argentina and Sidor in Venezuela. It create value with our customers, jointly improving competitiveness and productivity, through a highly efficient industrial and technological base and a global commercial network. “
A number of other analysts have also recently issued reports on TX. JPMorgan Chase & Co. lifted their target price on shares of Ternium SA from $24.00 to $27.00 and gave the company an overweight rating in a research note on Thursday, July 7th. TheStreet upgraded shares of Ternium SA from a hold rating to a buy rating in a research note on Tuesday, August 2nd. Finally, Credit Suisse Group AG reiterated a hold rating and issued a $21.00 target price on shares of Ternium SA in a research note on Tuesday, September 27th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $22.68.
Ternium SA (NYSE:TX) traded down 0.68% on Thursday, hitting $19.07. 64,801 shares of the stock were exchanged. Ternium SA has a 1-year low of $10.28 and a 1-year high of $23.60. The company’s 50 day moving average is $19.95 and its 200 day moving average is $19.72. The stock has a market cap of $3.74 billion, a PE ratio of 25.46 and a beta of 1.56.
Ternium SA (NYSE:TX) last posted its earnings results on Tuesday, August 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.14. The firm earned $1.86 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Ternium SA had a net margin of 2.42% and a return on equity of 7.24%. The company’s revenue was down 6.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.21 earnings per share. On average, equities research analysts expect that Ternium SA will post $2.54 earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in TX. Pacad Investment Ltd. acquired a new stake in shares of Ternium SA during the second quarter valued at about $111,000. Quantbot Technologies LP raised its stake in shares of Ternium SA by 22.5% in the second quarter. Quantbot Technologies LP now owns 6,298 shares of the company’s stock valued at $120,000 after buying an additional 1,158 shares during the period. O Shaughnessy Asset Management LLC acquired a new stake in shares of Ternium SA during the second quarter valued at about $145,000. Smith Asset Management Group LP acquired a new stake in shares of Ternium SA during the second quarter valued at about $198,000. Finally, World Asset Management Inc raised its stake in shares of Ternium SA by 7.5% in the second quarter. World Asset Management Inc now owns 12,479 shares of the company’s stock valued at $238,000 after buying an additional 870 shares during the period. 21.35% of the stock is currently owned by institutional investors and hedge funds.
About Ternium SA
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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