Ternium (NYSE:TX) Reaches New 12-Month High – Still a Buy?

Ternium S.A. (NYSE:TX) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $44.62 and last traded at $44.17, with a volume of 233554 shares. The stock had previously closed at $42.98.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TX. UBS Group boosted their target price on shares of Ternium from $32.00 to $39.00 and gave the company a “neutral” rating in a report on Monday, December 15th. Wall Street Zen cut shares of Ternium from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. HSBC set a $41.00 price objective on shares of Ternium and gave the stock a “buy” rating in a report on Friday, October 17th. Zacks Research lowered shares of Ternium from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. Finally, JPMorgan Chase & Co. boosted their price target on Ternium from $39.00 to $40.50 and gave the stock an “overweight” rating in a research report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $36.06.

Ternium Stock Performance

The company has a current ratio of 2.46, a quick ratio of 1.42 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $8.71 billion, a P/E ratio of 14.63 and a beta of 1.34. The business’s 50 day simple moving average is $40.01 and its two-hundred day simple moving average is $36.36.

Hedge Funds Weigh In On Ternium

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TX. EverSource Wealth Advisors LLC boosted its stake in 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 purchasing an additional 232 shares during the last quarter. Camelot Portfolios LLC bought a new position in shares of Ternium during the fourth quarter valued at $38,000. GAMMA Investing LLC boosted its position in shares of Ternium by 40.0% during the third quarter. GAMMA Investing LLC now owns 1,061 shares of the basic materials company’s stock valued at $37,000 after buying an additional 303 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Ternium during the third quarter valued at $38,000. Finally, JPMorgan Chase & Co. increased its holdings in Ternium by 142.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,254 shares of the basic materials company’s stock worth $44,000 after buying an additional 736 shares in the last quarter. 11.98% of the stock is owned by institutional investors.

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.