Bradesco Corretora Reaffirms “Neutral” Rating for Ternium (NYSE:TX)

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Bradesco Corretora reiterated their neutral rating on shares of Ternium (NYSE:TX) in a research note issued to investors on Tuesday morning, BenzingaRatingsTable reports. They currently have a $19.00 target price on the basic materials company’s stock.

TX has been the subject of several other research reports. Zacks Investment Research lowered shares of Ternium from a hold rating to a sell rating in a report on Saturday, May 4th. Morgan Stanley lowered shares of Ternium from an overweight rating to an equal weight rating and set a $27.00 price target for the company. in a report on Monday. UBS Group cut their price target on shares of Ternium from $35.00 to $28.00 and set a neutral rating for the company in a report on Friday, May 31st. Finally, JPMorgan Chase & Co. lowered shares of Ternium from an overweight rating to a neutral rating and set a $25.50 price target for the company. in a report on Monday, May 6th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. Ternium has an average rating of Hold and a consensus price target of $28.36.

Shares of NYSE TX opened at $16.66 on Tuesday. The firm has a market cap of $3.53 billion, a PE ratio of 2.85, a PEG ratio of 0.76 and a beta of 0.60. The firm has a fifty day moving average of $21.60 and a 200 day moving average of $25.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.16 and a current ratio of 2.30. Ternium has a one year low of $16.49 and a one year high of $32.99.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Northern Trust Corp boosted its position in shares of Ternium by 633.9% during the 4th quarter. Northern Trust Corp now owns 160,327 shares of the basic materials company’s stock valued at $4,345,000 after acquiring an additional 138,482 shares during the last quarter. Deltec Asset Management LLC boosted its position in shares of Ternium by 7.4% during the 1st quarter. Deltec Asset Management LLC now owns 85,831 shares of the basic materials company’s stock valued at $2,336,000 after acquiring an additional 5,941 shares during the last quarter. Investec Asset Management LTD boosted its position in shares of Ternium by 47.1% during the 1st quarter. Investec Asset Management LTD now owns 2,253,727 shares of the basic materials company’s stock valued at $61,346,000 after acquiring an additional 721,263 shares during the last quarter. Meritage Portfolio Management acquired a new position in shares of Ternium during the 1st quarter valued at about $2,057,000. Finally, Investec Asset Management North America Inc. boosted its position in shares of Ternium by 48.6% during the 1st quarter. Investec Asset Management North America Inc. now owns 617,251 shares of the basic materials company’s stock valued at $16,802,000 after acquiring an additional 201,903 shares during the last quarter. 18.14% of the stock is owned by institutional investors.

Ternium Company Profile

Ternium SA, through its subsidiaries, manufactures and processes various steel products in Mexico, Argentina, Paraguay, Chile, Bolivia, Uruguay, Brazil, the United States, Colombia, Guatemala, Costa Rica, Honduras, El Salvador, and Nicaragua. It operates in two segments, Steel and Mining. The Steel segment offers steel products, including slabs, billets and round bars, hot rolled flat products, merchant bars, reinforcing bars, stirrups and rods, tin plate and galvanized products, tubes, beams, insulated panels, roofing and cladding, roof tiles, steel decks, pre-engineered metal building systems, and pig iron; and sells energy.

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Analyst Recommendations for Ternium (NYSE:TX)

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