Ternium (NYSE:TX) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Ternium (NYSE:TX) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.

Separately, JPMorgan Chase & Co. upped their price target on Ternium from $54.00 to $56.00 and gave the company an overweight rating in a research note on Tuesday, May 28th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Ternium currently has a consensus rating of Buy and an average price target of $52.33.

Ternium Price Performance

NYSE:TX opened at $37.06 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.74 and a quick ratio of 1.57. The company has a fifty day moving average price of $34.27 and a 200 day moving average price of $38.34. Ternium has a one year low of $30.68 and a one year high of $44.44. The stock has a market cap of $7.43 billion, a P/E ratio of 11.00, a PEG ratio of 0.18 and a beta of 1.76.

Ternium (NYSE:TX) last released its quarterly earnings data on Tuesday, July 30th. The basic materials company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $1.25 by ($1.36). Ternium had a negative net margin of 3.57% and a positive return on equity of 6.08%. The company had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter in the prior year, the company posted $3.19 earnings per share. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. Analysts anticipate that Ternium will post 5.97 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Ternium by 2.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 40,751 shares of the basic materials company’s stock valued at $1,699,000 after purchasing an additional 1,067 shares during the period. Blue Trust Inc. lifted its holdings in Ternium by 3,152.3% during the 2nd quarter. Blue Trust Inc. now owns 1,431 shares of the basic materials company’s stock worth $60,000 after purchasing an additional 1,387 shares during the last quarter. Inspire Investing LLC grew its stake in shares of Ternium by 5.0% in the second quarter. Inspire Investing LLC now owns 38,136 shares of the basic materials company’s stock valued at $1,432,000 after acquiring an additional 1,816 shares in the last quarter. QRG Capital Management Inc. increased its position in Ternium by 28.9% during the second quarter. QRG Capital Management Inc. now owns 9,110 shares of the basic materials company’s stock worth $342,000 after acquiring an additional 2,045 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Ternium by 4.3% in the 2nd quarter. Principal Financial Group Inc. now owns 59,229 shares of the basic materials company’s stock worth $2,224,000 after purchasing an additional 2,437 shares in the last quarter. 11.98% of the stock is currently owned by institutional investors.

About Ternium

Ternium SA, together with its subsidiaries, manufactures and distributes steel products in Mexico, Southern Region, Brazil, and internationally. It operates through three segments: Steel, Mining, and Usiminas. The Steel segment offers slabs, hot and cold rolled products, coated products, roll formed and tubular products, bars, billets, and other products.