Wells Fargo & Company Issues Positive Forecast for Ternium (NYSE:TX) Stock Price

Ternium (NYSE:TX) had its price objective raised by stock analysts at Wells Fargo & Company from $36.00 to $43.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the basic materials company’s stock. Wells Fargo & Company‘s price target would indicate a potential downside of 7.66% from the company’s previous close.

A number of other analysts also recently commented on TX. Zacks Research downgraded Ternium from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 29th. UBS Group lifted their target price on shares of Ternium from $39.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, April 2nd. Scotiabank reaffirmed a “sector perform” rating and issued a $40.00 price target on shares of Ternium in a research note on Thursday, March 26th. Bank of America upgraded Ternium from a “neutral” rating to a “buy” rating and set a $46.00 price objective for the company in a research note on Monday, April 13th. Finally, Weiss Ratings upgraded Ternium from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Ternium currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.81.

Ternium Stock Performance

Ternium stock traded down $1.85 during trading hours on Thursday, hitting $46.57. 46,158 shares of the stock traded hands, compared to its average volume of 231,440. Ternium has a 1 year low of $27.12 and a 1 year high of $49.69. The stock has a market capitalization of $9.34 billion, a price-to-earnings ratio of 16.07 and a beta of 1.26. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.49 and a quick ratio of 1.45. The firm’s 50 day moving average price is $41.10 and its 200-day moving average price is $39.88.

Ternium (NYSE:TX) last issued its earnings results on Tuesday, March 31st. The basic materials company reported $1.10 EPS for the quarter. The firm had revenue of $3.93 billion for the quarter. Ternium had a return on equity of 3.71% and a net margin of 3.66%. As a group, equities analysts expect that Ternium will post 4.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TX. EverSource Wealth Advisors LLC lifted its stake in 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 acquiring an additional 232 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new stake in Ternium in the fourth quarter valued at $36,000. Camelot Portfolios LLC purchased a new stake in Ternium during the 4th quarter worth about $38,000. Advisory Services Network LLC acquired a new position in Ternium in the third quarter valued at $38,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Ternium by 142.1% in the third quarter. JPMorgan Chase & Co. now owns 1,254 shares of the basic materials company’s stock valued at $44,000 after buying an additional 736 shares during the last quarter. Institutional investors and hedge funds 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.