Ternium (NYSE:TX) Reaches New 52-Week Low on Analyst Downgrade

Ternium S.A. (NYSE:TXGet Rating)’s share price reached a new 52-week low on Wednesday after The Goldman Sachs Group lowered their price target on the stock from $60.00 to $52.00. The Goldman Sachs Group currently has a buy rating on the stock. Ternium traded as low as $29.10 and last traded at $29.16, with a volume of 642 shares traded. The stock had previously closed at $29.41.

TX has been the subject of several other reports. Morgan Stanley lowered their price objective on shares of Ternium from $48.00 to $39.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 6th. Bank of America downgraded shares of Ternium from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $53.00 to $40.00 in a research note on Friday, August 26th. Finally, StockNews.com downgraded shares of Ternium from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 3rd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Ternium currently has an average rating of “Moderate Buy” and a consensus target price of $47.00.

Institutional Investors Weigh In On Ternium

A number of institutional investors have recently made changes to their positions in the company. Optimum Investment Advisors grew its holdings in shares of Ternium by 33.3% during the first quarter. Optimum Investment Advisors now owns 1,000 shares of the basic materials company’s stock valued at $46,000 after buying an additional 250 shares during the last quarter. Profund Advisors LLC grew its holdings in shares of Ternium by 3.8% during the first quarter. Profund Advisors LLC now owns 12,742 shares of the basic materials company’s stock valued at $582,000 after buying an additional 469 shares during the last quarter. Captrust Financial Advisors lifted its position in Ternium by 100.0% during 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 during the period. Boston Partners lifted its position in Ternium by 3.0% during the first quarter. Boston Partners now owns 17,643 shares of the basic materials company’s stock valued at $805,000 after purchasing an additional 513 shares during the period. Finally, Crossmark Global Holdings Inc. lifted its position in Ternium by 0.3% during the second quarter. Crossmark Global Holdings Inc. now owns 166,492 shares of the basic materials company’s stock valued at $6,009,000 after purchasing an additional 535 shares during the period. Hedge funds and other institutional investors own 11.23% of the company’s stock.

Ternium Trading Up 3.5 %

The company has a market cap of $6.10 billion, a P/E ratio of 1.58 and a beta of 1.52. The stock’s 50-day moving average is $33.25 and its two-hundred day moving average is $39.13. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.50 and a quick ratio of 1.74.

Ternium Company Profile

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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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