Ternium (NYSE:TX) Given New $57.00 Price Target at Scotiabank

Ternium (NYSE:TX) had its price objective raised by analysts at Scotiabank from $40.00 to $57.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “sector perform” rating on the basic materials company’s stock. Scotiabank‘s price objective indicates a potential upside of 15.76% from the stock’s previous close.

Several other research analysts have also commented on the stock. Zacks Research lowered shares of Ternium from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 13th. Weiss Ratings raised shares of Ternium from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, September 10th. UBS Group upped their price objective on shares of Ternium from $56.00 to $59.00 and gave the stock a “neutral” rating in a report on Thursday, August 27th. Wells Fargo & Company decreased their price objective on shares of Ternium from $56.00 to $52.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, Wall Street Zen raised shares of Ternium from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 12th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $57.17.

Ternium Stock Up 1.2%

Shares of NYSE TX traded up $0.60 during trading hours on Friday, hitting $49.24. The stock had a trading volume of 748,791 shares, compared to its average volume of 417,898. The firm’s 50-day moving average price is $56.04 and its two-hundred day moving average price is $47.78. Ternium has a 52 week low of $35.12 and a 52 week high of $60.21. The company has a market capitalization of $9.87 billion, a P/E ratio of 10.09, a P/E/G ratio of 0.14 and a beta of 1.17. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.43 and a current ratio of 2.55.

Ternium (NYSE:TX) last issued its quarterly earnings data on Tuesday, November 3rd. The basic materials company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.37). The business had revenue of $4.64 billion for the quarter, compared to the consensus estimate of $4.65 billion. Ternium had a net margin of 5.74% and a return on equity of 5.77%. Ternium’s revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.10 EPS. Analysts anticipate that Ternium will post 6.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in Ternium by 14.9% during the 3rd quarter. GAMMA Investing LLC now owns 2,489 shares of the basic materials company’s stock worth $135,000 after acquiring an additional 323 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Ternium by 101.2% during the first quarter. Parallel Advisors LLC now owns 805 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 405 shares during the period. QRG Capital Management Inc. boosted its holdings in Ternium by 7.1% during the first quarter. QRG Capital Management Inc. now owns 7,549 shares of the basic materials company’s stock valued at $303,000 after acquiring an additional 501 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Ternium in the third quarter valued at about $40,000. Finally, Royal Bank of Canada grew its position in shares of Ternium by 3.6% in the first quarter. Royal Bank of Canada now owns 28,040 shares of the basic materials company’s stock valued at $1,125,000 after purchasing an additional 968 shares during the last quarter. Institutional investors own 11.98% of the company’s stock.

Ternium Company Profile

Ternium SA is a steel producer serving customers primarily in the Americas. The company manufactures and distributes a broad range of steel products, including flat steel, long steel, galvanized and pre-painted steel, hot- and cold-rolled products, steel bars, wire rod, and tubular products.

Ternium supplies industries such as construction, automotive, appliance manufacturing, energy, transportation, and agriculture. Its operations include iron ore mining, steelmaking, rolling, coating, processing, and distribution, allowing it to offer both commodity and higher-value-added steel products.

The company has industrial and commercial operations across Latin America, including Mexico, Brazil, Argentina, Colombia, and other markets in the region, as well as a presence in the United States and Central America.