Ternium (NYSE:TX) Hits New 1-Year High on Analyst Upgrade

Ternium S.A. (NYSE:TX)’s stock price reached a new 52-week high during trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $60.50 to $67.50. JPMorgan Chase & Co. currently has an overweight rating on the stock. Ternium traded as high as $58.50 and last traded at $57.6240, with a volume of 19154 shares traded. The stock had previously closed at $57.98.

TX has been the subject of several other research reports. HSBC reaffirmed a “hold” rating and set a $55.00 price target (up from $53.00) on shares of Ternium in a research note on Friday, August 21st. Weiss Ratings restated a “buy (b-)” rating on shares of Ternium in a report on Monday, August 17th. Itau BBA Securities raised Ternium from a “market perform” rating to an “outperform” rating and set a $59.00 target price for the company in a research report on Sunday, May 24th. 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, The Goldman Sachs Group reiterated a “buy” rating and issued a $57.00 price target on shares of Ternium in a research report on Friday, May 22nd. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.50.

Institutional Investors Weigh In On Ternium

Large investors have recently modified their holdings of the company. Donald Smith & CO. Inc. acquired a new position in Ternium in the second quarter valued at $134,131,000. Militia Capital Management LLC acquired a new stake in Ternium during the 1st quarter worth about $1,486,000. Amundi grew its holdings in Ternium by 19.9% during the 1st quarter. Amundi now owns 703,304 shares of the basic materials company’s stock worth $28,238,000 after acquiring an additional 116,813 shares during the period. Empowered Funds LLC raised its position in shares of Ternium by 69.4% in the 1st quarter. Empowered Funds LLC now owns 161,171 shares of the basic materials company’s stock worth $6,471,000 after acquiring an additional 66,042 shares in the last quarter. Finally, Lazard Asset Management LLC raised its position in shares of Ternium by 8.0% in the 1st quarter. Lazard Asset Management LLC now owns 6,336,127 shares of the basic materials company’s stock worth $254,395,000 after acquiring an additional 469,846 shares in the last quarter. 11.98% of the stock is currently owned by institutional investors and hedge funds.

Ternium Price Performance

The company has a market capitalization of $11.58 billion, a price-to-earnings ratio of 16.22, a P/E/G ratio of 0.18 and a beta of 1.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.43 and a current ratio of 2.58. The business has a 50 day moving average price of $49.47 and a 200-day moving average price of $45.64.

Ternium (NYSE:TX) last announced its earnings results on Tuesday, June 30th. The basic materials company reported $1.80 EPS for the quarter. Ternium had a return on equity of 4.26% and a net margin of 4.37%.The company had revenue of $4.34 billion for the quarter. Research analysts predict that Ternium S.A. will post 6.07 EPS for the current fiscal year.

About Ternium

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.