Ternium SA (TX) Rating Increased to Strong-Buy at Zacks Investment Research
Ternium SA (NYSE:TX) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday. The brokerage presently has a $27.00 target price on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 20.97% from the company’s current price.
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. “
Other equities analysts have also recently issued reports about the company. TheStreet upgraded Ternium SA from a “hold” rating to a “buy” rating in a report on Tuesday, August 2nd. Credit Suisse Group AG restated a “hold” rating and set a $21.00 target price on shares of Ternium SA in a report on Tuesday, September 27th. HSBC cut Ternium SA from a “buy” rating to a “hold” rating in a report on Wednesday, November 9th. Itau BBA Securities upgraded Ternium SA from a “market perform” rating to an “outperform” rating in a report on Thursday, November 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on Ternium SA from $27.00 to $29.50 and gave the company an “overweight” rating in a research note on Friday, August 5th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $22.85.
Ternium SA (NYSE:TX) opened at 22.32 on Tuesday. The stock’s 50 day moving average is $22.10 and its 200 day moving average is $20.54. Ternium SA has a 12-month low of $10.28 and a 12-month high of $26.50. The firm has a market cap of $4.38 billion, a P/E ratio of 12.48 and a beta of 1.38.
Ternium SA (NYSE:TX) last announced its earnings results on Thursday, November 3rd. The company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.29. Ternium SA had a return on equity of 11.49% and a net margin of 5.29%. The company earned $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period last year, the business posted $0.13 EPS. Ternium SA’s revenue for the quarter was down 4.6% on a year-over-year basis. On average, equities research analysts expect that Ternium SA will post $2.82 EPS for the current year.
Several large investors have recently modified their holdings of TX. Crow Point Partners LLC acquired a new stake in shares of Ternium SA during the third quarter valued at $113,000. Credit Suisse AG raised its stake in shares of Ternium SA by 22.7% in the third quarter. Credit Suisse AG now owns 312,300 shares of the company’s stock valued at $6,131,000 after buying an additional 57,848 shares during the period. Verition Fund Management LLC acquired a new stake in shares of Ternium SA during the third quarter valued at $307,000. Jane Street Group LLC acquired a new stake in shares of Ternium SA during the third quarter valued at $286,000. Finally, Lazard Asset Management LLC raised its stake in shares of Ternium SA by 104.6% in the third quarter. Lazard Asset Management LLC now owns 342,539 shares of the company’s stock valued at $6,723,000 after buying an additional 175,134 shares during the period. 21.21% of the stock is currently owned by institutional investors and hedge funds.
Ternium SA Company Profile
Ternium SA is a producer of steel products. The Company produces finished and semi-finished steel products and iron ore, which are sold either directly to steel manufacturers, steel processors or end users. The Company operates through two segments: Steel and Mining. The Steel segment includes the sales of steel products and the Mining segment includes the sales of iron ore products, which are primarily inter-company.
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