Zacks Research Downgrades Ternium (NYSE:TX) to Hold

Ternium (NYSE:TX) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on TX. UBS Group raised their target price on shares of Ternium from $39.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, April 2nd. Itau BBA Securities raised Ternium from a “market perform” rating to an “outperform” rating and set a $59.00 price objective for the company in a report on Sunday, May 24th. Wall Street Zen raised shares of Ternium from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 12th. Bradesco Corretora raised Ternium to an “outperform” rating and set a $62.00 target price on the stock in a report on Tuesday, May 19th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Ternium in a research report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $47.94.

Ternium Stock Up 0.3%

Shares of NYSE TX opened at $49.26 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.53 and a current ratio of 2.63. Ternium has a 1 year low of $30.44 and a 1 year high of $51.73. The stock’s 50-day simple moving average is $46.45 and its 200-day simple moving average is $43.72. The firm has a market cap of $9.87 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 0.18 and a beta of 1.29.

Ternium (NYSE:TX) last posted its quarterly earnings results on Tuesday, March 31st. The basic materials company reported $1.10 earnings per share (EPS) for the quarter. Ternium had a net margin of 3.66% and a return on equity of 3.70%. The firm had revenue of $3.93 billion for the quarter. As a group, equities analysts anticipate that Ternium will post 5.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TX. Lazard Asset Management LLC lifted its position in shares of 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 worth $254,395,000 after buying an additional 469,846 shares during the last quarter. Empirical Finance LLC increased its holdings in shares of Ternium by 69.4% during the 1st quarter. Empirical Finance LLC now owns 161,171 shares of the basic materials company’s stock valued at $6,471,000 after acquiring an additional 66,042 shares during the last quarter. Militia Capital Management LLC acquired a new position in shares of Ternium during the 1st quarter valued at about $1,486,000. Deprince Race & Zollo Inc. raised its stake in shares of Ternium by 17.3% in the 4th quarter. Deprince Race & Zollo Inc. now owns 118,482 shares of the basic materials company’s stock valued at $4,525,000 after acquiring an additional 17,461 shares in the last quarter. Finally, Cape Ann Asset Management Ltd raised its stake in shares of Ternium by 20.5% in the 4th quarter. Cape Ann Asset Management Ltd now owns 1,068,649 shares of the basic materials company’s stock valued at $40,812,000 after acquiring an additional 182,000 shares in the last quarter. Institutional investors and hedge funds own 11.98% of the company’s stock.

Ternium Company Profile

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.