Ternium (NYSE:TX) Given “Sector Perform” Rating at Scotiabank

Ternium (NYSE:TX)‘s stock had its “sector perform” rating reissued by Scotiabank in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $40.00 price target on the basic materials company’s stock. Scotiabank’s target price suggests a potential upside of 1.32% from the stock’s current price.

A number of other brokerages also recently issued reports on TX. Weiss Ratings upgraded Ternium from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Wells Fargo & Company lowered their price target on Ternium from $34.00 to $33.00 and set an “underweight” rating on the stock in a research report on Thursday, February 19th. Zacks Research lowered Ternium from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 29th. Finally, UBS Group increased their price objective on Ternium from $32.00 to $39.00 and gave the company a “neutral” rating in a research report on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $35.94.

Ternium Stock Performance

NYSE:TX opened at $39.48 on Thursday. The business’s fifty day moving average is $41.87 and its 200 day moving average is $38.53. The firm has a market cap of $7.91 billion, a price-to-earnings ratio of 18.28 and a beta of 1.32. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.45 and a current ratio of 2.49. Ternium has a 52-week low of $24.00 and a 52-week high of $45.57.

Ternium (NYSE:TX) last issued its earnings results on Wednesday, February 18th. The basic materials company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.15). The company had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.81 billion. Ternium had a return on equity of 3.06% and a net margin of 2.72%.The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.42) EPS. Research analysts predict that Ternium will post 4.37 EPS for the current year.

Institutional Trading of Ternium

Several institutional investors have recently added to or reduced their stakes in the business. Lazard Asset Management LLC increased its holdings in shares of Ternium by 0.9% in the fourth quarter. Lazard Asset Management LLC now owns 5,866,281 shares of the basic materials company’s stock worth $224,033,000 after buying an additional 52,711 shares during the period. Donald Smith & CO. Inc. grew its position in Ternium by 1.8% during the 4th quarter. Donald Smith & CO. Inc. now owns 3,808,645 shares of the basic materials company’s stock worth $145,452,000 after acquiring an additional 66,062 shares during the last quarter. Schroder Investment Management Group increased its stake in Ternium by 4.7% in the 3rd quarter. Schroder Investment Management Group now owns 2,279,273 shares of the basic materials company’s stock worth $79,159,000 after purchasing an additional 101,748 shares during the period. Cape Ann Asset Management Ltd lifted its position in Ternium by 20.5% in the fourth quarter. Cape Ann Asset Management Ltd now owns 1,068,649 shares of the basic materials company’s stock valued at $40,812,000 after purchasing an additional 182,000 shares during the last quarter. Finally, Oaktree Capital Management LP boosted its stake in shares of Ternium by 13.2% during the second quarter. Oaktree Capital Management LP now owns 919,709 shares of the basic materials company’s stock valued at $27,683,000 after purchasing an additional 107,100 shares during the period. 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.