Ternium (NYSE:TX) Raised to Strong-Buy at Zacks Investment Research

Ternium (NYSE:TX – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Friday, Zacks.com reports. The brokerage presently has a $49.00 target price on the basic materials company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 9.96% from the company’s previous close.

According to Zacks, “Ternium is the leading producer of flat and long steel products of Latin America and consolidates the operations of the steel companies Hylsa in Mexico, Siderar in Argentina and Sidor in Venezuela. It create value with our customers, jointly improving competitiveness and productivity, through a highly efficient industrial and technological base and a global commercial network. “

A number of other research firms have also commented on TX. Wolfe Research upgraded Ternium from an “underperform” rating to a “peer perform” rating and increased their price target for the stock from $38.00 to $43.00 in a research report on Friday, March 11th. StockNews.com started coverage on Ternium in a report on Thursday, March 31st. They set a “strong-buy” rating on the stock. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $56.50.

Shares of Ternium stock opened at $44.56 on Friday. The firm has a market cap of $8.93 billion, a P/E ratio of 2.19 and a beta of 1.56. The firm’s 50-day simple moving average is $44.33 and its 200-day simple moving average is $42.57. Ternium has a twelve month low of $32.46 and a twelve month high of $56.86. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.86 and a current ratio of 3.20.

Ternium (NYSE:TX – Get Rating) last released its quarterly earnings data on Tuesday, April 26th. The basic materials company reported $3.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $1.03. Ternium had a return on equity of 34.27% and a net margin of 23.32%. The company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.25 billion. During the same period in the previous year, the business earned $3.07 earnings per share. On average, equities analysts forecast that Ternium will post 11.17 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in TX. Avondale Wealth Management acquired a new position in shares of Ternium in the fourth quarter valued at approximately $28,000. BNP Paribas Arbitrage SA acquired a new position in Ternium in the 3rd quarter worth $38,000. Edmond DE Rothschild Holding S.A. bought a new position in Ternium during the 4th quarter worth about $39,000. Optimum Investment Advisors raised its stake in shares of Ternium by 33.3% in the 1st quarter. Optimum Investment Advisors now owns 1,000 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 250 shares during the period. Finally, Captrust Financial Advisors lifted its holdings in shares of Ternium by 100.0% in the first quarter. Captrust Financial Advisors now owns 1,000 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 12.28% of the company’s stock.

Ternium Company Profile (Get Rating)

Ternium SA manufactures, processes, and sells 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 through two segments, Steel and Mining. The Steel segment offers 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 products; and sells energy.

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