Wells Fargo & Company Raises Ternium (NYSE:TX) Price Target to $34.00

Ternium (NYSE:TX) had its target price upped by investment analysts at Wells Fargo & Company from $30.00 to $34.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “underweight” rating on the basic materials company’s stock. Wells Fargo & Company‘s price target points to a potential downside of 21.18% from the company’s current price.

TX has been the topic of several other reports. Zacks Research upgraded Ternium from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 31st. UBS Group upped their target price on Ternium from $32.00 to $39.00 and gave the stock a “neutral” rating in a research note on Monday, December 15th. HSBC set a $41.00 price target on shares of Ternium and gave the company a “buy” rating in a research report on Friday, October 17th. Hsbc Global Res upgraded shares of Ternium to a “strong-buy” rating in a report on Friday, October 17th. Finally, Wall Street Zen cut shares of Ternium from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Ternium currently has an average rating of “Moderate Buy” and a consensus target price of $36.06.

Ternium Price Performance

NYSE:TX opened at $43.14 on Wednesday. Ternium has a 52-week low of $24.00 and a 52-week high of $42.47. The stock has a fifty day moving average of $38.29 and a 200 day moving average of $35.44. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.42 and a current ratio of 2.46. The firm has a market capitalization of $8.65 billion, a price-to-earnings ratio of 14.38 and a beta of 1.36.

Ternium (NYSE:TX) last issued its quarterly earnings results on Tuesday, October 28th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.68). The business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $4.02 billion. Ternium had a net margin of 3.72% and a return on equity of 1.89%. The business’s revenue was down 11.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.16 EPS. On average, research analysts expect that Ternium will post 4.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in 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 bought a new stake in shares of Ternium during the 3rd quarter valued at $38,000. JPMorgan Chase & Co. increased its stake in shares of 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 purchasing an additional 736 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Ternium by 17.5% in the 3rd quarter. Blue Trust Inc. now owns 2,247 shares of the basic materials company’s stock worth $78,000 after purchasing an additional 335 shares in the last quarter. Finally, State of Wyoming bought a new position in Ternium in the 2nd quarter worth $119,000. Institutional investors own 11.98% of the company’s stock.

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.