Ternium (NYSE:TX) Reaches New 52-Week High – Time to Buy?

Ternium S.A. (NYSE:TX)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $45.32 and last traded at $44.46, with a volume of 72984 shares changing hands. The stock had previously closed at $44.22.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TX shares. HSBC set a $41.00 target price on shares of Ternium and gave the stock a “buy” rating in a research report on Friday, October 17th. JPMorgan Chase & Co. boosted their price objective on shares of Ternium from $39.00 to $40.50 and gave the company an “overweight” rating in a research note on Friday, October 17th. Zacks Research lowered Ternium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. UBS Group lifted their target price on Ternium from $32.00 to $39.00 and gave the company a “neutral” rating in a report on Monday, December 15th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ternium in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Ternium currently has an average rating of “Hold” and a consensus price target of $36.06.

Ternium Trading Up 0.6%

The firm has a fifty day moving average of $40.41 and a 200-day moving average of $36.69. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.42 and a current ratio of 2.46. The stock has a market capitalization of $8.92 billion, a price-to-earnings ratio of 14.98 and a beta of 1.34.

Institutional Investors Weigh In On Ternium

Several hedge funds have recently modified their holdings of TX. State of Wyoming boosted its holdings in Ternium by 33.3% in the 4th quarter. State of Wyoming now owns 5,587 shares of the basic materials company’s stock worth $213,000 after acquiring an additional 1,395 shares during the period. Hantz Financial Services Inc. lifted its position in shares of Ternium by 18.5% during the fourth quarter. Hantz Financial Services Inc. now owns 21,217 shares of the basic materials company’s stock worth $810,000 after purchasing an additional 3,305 shares in the last quarter. Prospera Financial Services Inc purchased a new position in shares of Ternium in the fourth quarter valued at $209,000. EverSource Wealth Advisors LLC boosted its stake in shares of Ternium by 49.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 704 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 232 shares during the period. Finally, Camelot Portfolios LLC acquired a new stake in Ternium during the 4th quarter valued at $38,000. 11.98% of the stock is currently owned by hedge funds and other institutional investors.

About Ternium

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.