Ternium SA (NYSE:TX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.
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. “
Several other equities analysts have also weighed in on the stock. Credit Suisse Group AG reaffirmed a “hold” rating and set a $21.00 target price on shares of Ternium SA in a report on Tuesday, September 27th. JPMorgan Chase & Co. lifted their target price on shares of Ternium SA from $27.00 to $29.50 and gave the company an “overweight” rating in a report on Friday, August 5th. Finally, TheStreet raised shares of Ternium SA from a “hold” rating to a “buy” rating in a report on Tuesday, August 2nd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Ternium SA presently has an average rating of “Buy” and an average target price of $22.68.
Ternium SA (NYSE:TX) opened at 19.22 on Thursday. Ternium SA has a 52-week low of $10.28 and a 52-week high of $23.60. The firm has a 50 day moving average of $20.03 and a 200-day moving average of $19.72. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of 25.66 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 for the quarter, beating the consensus estimate of $0.64 by $0.14. The firm earned $1.86 billion during the quarter, compared to analyst estimates of $2.01 billion. Ternium SA had a net margin of 2.42% and a return on equity of 7.24%. The business’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.21 EPS. Equities analysts expect that Ternium SA will post $2.54 EPS for the current year.
A number of large investors have recently added to or reduced their stakes in the stock. Pacad Investment Ltd. bought a new stake in Ternium SA during the second quarter worth about $111,000. Quantbot Technologies LP boosted its stake in Ternium SA by 22.5% in the second quarter. Quantbot Technologies LP now owns 6,298 shares of the company’s stock worth $120,000 after buying an additional 1,158 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new stake in Ternium SA during the second quarter worth about $145,000. Smith Asset Management Group LP bought a new stake in Ternium SA during the second quarter worth about $198,000. Finally, World Asset Management Inc boosted its stake in Ternium SA by 7.5% in the second quarter. World Asset Management Inc now owns 12,479 shares of the company’s stock worth $238,000 after buying an additional 870 shares in the last quarter. 21.35% of the stock is currently owned by hedge funds and other institutional investors.
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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