JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Ternium (NYSE:TX) Stock

Ternium (NYSE:TX) had its price objective boosted by investment analysts at JPMorgan Chase & Co. from $60.50 to $67.50 in a research report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 16.58% from the stock’s current price.

TX has been the subject of a number of other reports. Wall Street Zen raised shares of Ternium from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 12th. The Goldman Sachs Group reiterated a “buy” rating and issued a $57.00 price objective on shares of Ternium in a research note on Friday, May 22nd. HSBC reissued a “hold” rating and set a $55.00 price objective (up from $53.00) on shares of Ternium in a report on Friday, August 21st. Weiss Ratings restated a “buy (b-)” rating on shares of Ternium in a research note on Monday, August 17th. Finally, Zacks Research cut Ternium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 30th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.50.

Ternium Trading Up 1.8%

Shares of Ternium stock opened at $57.90 on Friday. The firm has a market cap of $11.61 billion, a PE ratio of 16.26, a P/E/G ratio of 0.18 and a beta of 1.25. Ternium has a 1 year low of $33.01 and a 1 year high of $58.24. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.58 and a quick ratio of 1.43. The stock has a fifty day moving average price of $49.47 and a 200-day moving average price of $45.64.

Ternium (NYSE:TX) last issued its quarterly earnings results on Tuesday, June 30th. The basic materials company reported $1.80 earnings per share for the quarter. The company had revenue of $4.34 billion for the quarter. Ternium had a net margin of 4.37% and a return on equity of 4.26%. Equities research analysts anticipate that Ternium will post 6.07 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. O Shaughnessy Asset Management LLC raised its holdings in shares of Ternium by 1.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 13,232 shares of the basic materials company’s stock valued at $505,000 after buying an additional 231 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Ternium by 49.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 704 shares of the basic materials company’s stock worth $27,000 after buying an additional 232 shares during the period. GAMMA Investing LLC grew its holdings in 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. Parallel Advisors LLC grew 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 worth $32,000 after purchasing an additional 405 shares during the last quarter. Finally, Caxton Associates LLP grew its position in shares of Ternium by 2.8% in the 2nd quarter. Caxton Associates LLP now owns 17,819 shares of the basic materials company’s stock worth $536,000 after buying an additional 484 shares during the last quarter. Hedge funds and other institutional investors 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.