Ternium (NYSE:TX) Lowered to “Equal Weight” Rating by Morgan Stanley

Ternium (NYSE:TX) was downgraded by equities researchers at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. They currently have a $34.00 target price on the basic materials company’s stock. Morgan Stanley’s target price indicates a potential upside of 7.46% from the stock’s previous close.

TX has been the subject of several other research reports. Bank of America reissued an “underperform” rating and issued a $25.00 price objective on shares of Ternium in a research note on Monday, April 7th. Scotiabank decreased their price objective on shares of Ternium from $53.00 to $41.00 and set a “sector outperform” rating for the company in a research report on Thursday, July 17th. Finally, The Goldman Sachs Group reduced their price target on shares of Ternium from $39.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $33.40.

Ternium Stock Up 1.4%

Ternium stock traded up $0.44 during mid-day trading on Monday, reaching $31.64. The company’s stock had a trading volume of 27,463 shares, compared to its average volume of 212,280. The company has a market capitalization of $6.34 billion, a price-to-earnings ratio of -17.78 and a beta of 1.48. Ternium has a 12 month low of $24.00 and a 12 month high of $37.98. The business’s 50 day simple moving average is $29.68 and its 200 day simple moving average is $29.57. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.76 and a current ratio of 3.00.

Ternium (NYSE:TX) last announced its quarterly earnings results on Tuesday, April 29th. The basic materials company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.22. The business had revenue of $3.93 billion for the quarter, compared to analyst estimates of $4 billion. Ternium had a negative net margin of 2.07% and a positive return on equity of 0.29%. Ternium’s quarterly revenue was down 17.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.84 EPS. As a group, research analysts anticipate that Ternium will post 4.37 earnings per share for the current year.

Institutional Investors Weigh In On Ternium

Institutional investors and hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC boosted its holdings in shares of Ternium by 500.0% in the fourth quarter. NewEdge Advisors LLC now owns 1,200 shares of the basic materials company’s stock worth $35,000 after buying an additional 1,000 shares during the last quarter. Headlands Technologies LLC lifted its holdings in Ternium by 249.5% during the fourth quarter. Headlands Technologies LLC now owns 1,681 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 1,200 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Ternium by 51.8% during the first quarter. GAMMA Investing LLC now owns 1,913 shares of the basic materials company’s stock valued at $60,000 after purchasing an additional 653 shares in the last quarter. Brooklyn Investment Group lifted its holdings in Ternium by 201,700.0% during the first quarter. Brooklyn Investment Group now owns 2,018 shares of the basic materials company’s stock valued at $63,000 after purchasing an additional 2,017 shares in the last quarter. Finally, Aquatic Capital Management LLC lifted its holdings in Ternium by 28.4% during the fourth quarter. Aquatic Capital Management LLC now owns 2,182 shares of the basic materials company’s stock valued at $63,000 after purchasing an additional 482 shares in 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.