Ternium (NYSE:TX) Stock Gets Downgrade from Zacks Research

Ternium (NYSE:TX) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks reports.

TX has been the topic of several other reports. UBS Group upped their target price on shares of Ternium from $56.00 to $59.00 and gave the company a “neutral” rating in a research report on Thursday, August 27th. HSBC reaffirmed a “hold” rating and issued a $55.00 price target (up from $53.00) on shares of Ternium in a report on Friday, August 21st. Weiss Ratings upgraded Ternium from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, September 10th. Wells Fargo & Company boosted their price objective on Ternium from $52.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 6th. Finally, JPMorgan Chase & Co. boosted their price objective on Ternium from $60.50 to $67.50 and gave the stock an “overweight” rating in a research note on Friday, September 4th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $55.72.

Ternium Price Performance

Ternium stock opened at $58.56 on Tuesday. The company has a market cap of $11.74 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 0.18 and a beta of 1.17. The firm’s fifty day moving average is $56.01 and its 200 day moving average is $48.95. The company has a quick ratio of 1.43, a current ratio of 2.58 and a debt-to-equity ratio of 0.14. Ternium has a 52-week low of $33.01 and a 52-week high of $59.32.

Ternium (NYSE:TX) last released its quarterly earnings data on Tuesday, June 30th. The basic materials company reported $1.80 EPS for the quarter. Ternium had a net margin of 4.37% and a return on equity of 4.26%. The business had revenue of $4.34 billion during the quarter. Sell-side analysts forecast that Ternium will post 6.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TX. Parallel Advisors LLC raised its stake in shares of Ternium by 101.2% in the first quarter. Parallel Advisors LLC now owns 805 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 405 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Ternium by 18.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,166 shares of the basic materials company’s stock worth $92,000 after acquiring an additional 331 shares during the last quarter. Ritholtz Wealth Management bought a new stake in shares of Ternium in the 1st quarter worth about $208,000. Janney Montgomery Scott LLC purchased a new position in shares of Ternium during the 1st quarter worth about $210,000. Finally, Arkadios Wealth Advisors purchased a new position in shares of Ternium during the 1st quarter worth about $264,000. 11.98% of the stock is owned by hedge funds and other institutional investors.

About Ternium

Ternium SA (NYSE: TX) is a steel producer serving customers primarily in the Americas. The company manufactures a broad range of steel products, including flat steel, long steel, slabs, billets, galvanized and pre-painted steel, and other value-added products used in construction, automotive manufacturing, appliances, energy, machinery, and other industrial applications.

Ternium operates an integrated steelmaking and processing network with production and distribution activities in countries including Mexico, Brazil, Argentina, Colombia, and the United States.