Wells Fargo & Company Issues Positive Forecast for Ternium (NYSE:TX) Stock Price

Ternium (NYSE:TX) had its price target increased by Wells Fargo & Company from $52.00 to $56.00 in a report released on Tuesday,Benzinga reports. They currently have an equal weight rating on the basic materials company’s stock.

A number of other analysts have also issued reports on the stock. Wall Street Zen upgraded shares of Ternium from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 12th. JPMorgan Chase & Co. upped their target price on shares of Ternium from $60.50 to $67.50 and gave the company an “overweight” rating in a research note on Friday, September 4th. Weiss Ratings raised shares of Ternium from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, September 10th. UBS Group lifted their price target on shares of Ternium from $56.00 to $59.00 and gave the stock a “neutral” rating in a research note on Thursday, August 27th. Finally, HSBC reiterated a “hold” rating and issued a $55.00 price objective (up from $53.00) on shares of Ternium in a report on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.72.

Ternium Price Performance

TX stock opened at $56.99 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.43 and a current ratio of 2.58. Ternium has a 1 year low of $33.01 and a 1 year high of $59.32. The firm has a market cap of $11.42 billion, a P/E ratio of 16.01, a price-to-earnings-growth ratio of 0.17 and a beta of 1.17. The stock has a 50-day simple moving average of $55.08 and a 200-day simple moving average of $48.13.

Ternium (NYSE:TX) last announced its earnings results on Tuesday, June 30th. The basic materials company reported $1.80 EPS for the quarter. The business had revenue of $4.34 billion for the quarter. Ternium had a return on equity of 4.26% and a net margin of 4.37%. On average, equities analysts predict that Ternium will post 6.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ternium

Institutional investors have recently modified their holdings of the stock. Engineers Gate Manager LP lifted its position in shares of Ternium by 496.8% during the second quarter. Engineers Gate Manager LP now owns 56,337 shares of the basic materials company’s stock worth $2,406,000 after purchasing an additional 46,897 shares during the last quarter. Nykredit A S bought a new stake in Ternium in the second quarter valued at about $10,564,000. Wellington Management Group LLP bought a new stake in Ternium in the second quarter valued at about $5,704,000. Donald Smith & CO. Inc. acquired a new stake in Ternium during the second quarter valued at approximately $134,131,000. Finally, Oldfield Partners LLP raised its stake in Ternium by 11.3% during the second quarter. Oldfield Partners LLP now owns 26,161 shares of the basic materials company’s stock valued at $1,117,000 after buying an additional 2,666 shares in the last quarter. Institutional investors and hedge funds own 11.98% of the company’s stock.

About Ternium

Ternium SA (NYSE: TX) is a steel producer serving customers primarily in the Americas. The company manufactures a broad range of steel products, including flat steel, long steel, slabs, billets, galvanized and pre-painted steel, and other value-added products used in construction, automotive manufacturing, appliances, energy, machinery, and other industrial applications.

Ternium operates an integrated steelmaking and processing network with production and distribution activities in countries including Mexico, Brazil, Argentina, Colombia, and the United States.