Ternium (NYSE:TX) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Ternium (NYSE:TX) from a buy rating to a hold rating in a report published on Tuesday morning.

Separately, JPMorgan Chase & Co. lifted their price target on shares of Ternium from $54.00 to $56.00 and gave the stock an overweight rating in a research note on Tuesday, May 28th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Ternium presently has an average rating of Moderate Buy and an average price target of $52.33.

Ternium Stock Up 4.3 %

Ternium stock opened at $35.84 on Tuesday. Ternium has a 12 month low of $30.68 and a 12 month high of $44.44. The stock has a fifty day simple moving average of $34.36 and a two-hundred day simple moving average of $38.51. The company has a current ratio of 2.74, a quick ratio of 1.57 and a debt-to-equity ratio of 0.09. The firm has a market cap of $7.18 billion, a price-to-earnings ratio of 10.58, a PEG ratio of 0.15 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 for the quarter, compared to analysts’ expectations of $4.57 billion. During the same period in the previous year, the firm earned $3.19 earnings per share. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. Equities analysts predict that Ternium will post 7.01 EPS for the current fiscal year.

Institutional Trading of Ternium

Hedge funds have recently modified their holdings of the company. Lazard Asset Management LLC raised its position in shares of Ternium by 1.8% during the 1st quarter. Lazard Asset Management LLC now owns 3,196,107 shares of the basic materials company’s stock valued at $133,021,000 after buying an additional 56,379 shares in the last quarter. Ninety One UK Ltd lifted its stake in shares of Ternium by 0.6% in the 2nd quarter. Ninety One UK Ltd now owns 1,691,042 shares of the basic materials company’s stock valued at $63,499,000 after purchasing an additional 10,375 shares during the last quarter. Donald Smith & CO. Inc. purchased a new position in shares of Ternium in the 2nd quarter worth approximately $50,566,000. Contrarian Capital Management L.L.C. raised its holdings in Ternium by 8.9% during the 4th quarter. Contrarian Capital Management L.L.C. now owns 1,117,981 shares of the basic materials company’s stock valued at $47,481,000 after buying an additional 91,629 shares during the period. Finally, Oaktree Capital Management LP lifted its position in Ternium by 7.4% in the fourth quarter. Oaktree Capital Management LP now owns 958,237 shares of the basic materials company’s stock worth $40,696,000 after buying an additional 66,082 shares during the last quarter. 11.98% of the stock is owned by hedge funds and other 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.