Ternium (NYSE:TX) Upgraded to “Equal Weight” at Wells Fargo & Company

Ternium (NYSE:TX) was upgraded by equities researchers at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating in a research note issued on Thursday,Benzinga reports. The firm presently has a $45.00 price objective on the basic materials company’s stock, up from their prior price objective of $43.00. Wells Fargo & Company‘s price objective indicates a potential upside of 5.02% from the company’s previous close.

Several other research firms have also issued reports on TX. Itau BBA Securities raised Ternium from a “market perform” rating to an “outperform” rating and set a $59.00 target price for the company in a report on Sunday, May 24th. Wall Street Zen downgraded Ternium from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 27th. Scotiabank reaffirmed a “sector perform” rating and set a $40.00 target price on shares of Ternium in a research report on Thursday, March 26th. Zacks Research raised shares of Ternium from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 16th. Finally, Bank of America upgraded shares of Ternium from a “neutral” rating to a “buy” rating and set a $46.00 price objective for the company in a report on Monday, April 13th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $46.55.

Ternium Price Performance

TX opened at $42.85 on Thursday. Ternium has a 1 year low of $29.98 and a 1 year high of $51.73. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.63 and a quick ratio of 1.53. The company has a market capitalization of $8.59 billion, a price-to-earnings ratio of 14.73, a P/E/G ratio of 0.13 and a beta of 1.29. The firm’s fifty day moving average price is $45.98 and its two-hundred day moving average price is $42.88.

Ternium (NYSE:TX) last released its quarterly earnings results on Tuesday, March 31st. The basic materials company reported $1.10 earnings per share for the quarter. Ternium had a net margin of 3.66% and a return on equity of 3.70%. The company had revenue of $3.93 billion for the quarter. As a group, analysts anticipate that Ternium will post 6.13 earnings per share for the current fiscal year.

Institutional Trading of Ternium

Large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its position in shares of Ternium by 49.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 704 shares of the basic materials company’s stock valued at $27,000 after buying an additional 232 shares during the last quarter. Parallel Advisors LLC increased its holdings in Ternium by 101.2% in the 1st quarter. Parallel Advisors LLC now owns 805 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 405 shares during the last quarter. Atlas Capital Advisors Inc. bought a new stake in Ternium in the 4th quarter valued at about $36,000. Camelot Portfolios LLC bought a new stake in Ternium in the 4th quarter valued at about $38,000. Finally, Advisory Services Network LLC purchased a new stake in Ternium during the third quarter valued at about $38,000. 11.98% of the stock is owned by hedge funds and other institutional investors.

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.