Wells Fargo & Company Upgrades Ternium (NYSE:TX) to Strong Sell

Ternium (NYSE:TX) was upgraded by research analysts at Wells Fargo & Company to a “strong sell” rating in a note issued to investors on Thursday,Zacks.com reports.

TX has been the topic of several other research reports. Morgan Stanley cut Ternium from an “overweight” rating to an “equal weight” rating and set a $34.00 price target on the stock. in a research report on Monday, July 21st. Scotiabank dropped their price target on Ternium from $53.00 to $41.00 and set a “sector outperform” rating on the stock in a research report on Thursday, July 17th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Ternium has an average rating of “Hold” and a consensus target price of $32.83.

Ternium Stock Up 0.8%

Ternium stock opened at $32.50 on Thursday. Ternium has a fifty-two week low of $24.00 and a fifty-two week high of $37.98. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.59 and a current ratio of 2.68. The company has a market capitalization of $6.52 billion, a P/E ratio of 10.73 and a beta of 1.53. The stock has a 50-day simple moving average of $31.11 and a 200-day simple moving average of $29.95.

Ternium (NYSE:TX) last posted its earnings results on Tuesday, July 29th. The basic materials company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.62. Ternium had a return on equity of 1.95% and a net margin of 3.66%. The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $4.19 billion. During the same period in the previous year, the business earned ($0.11) EPS. The business’s quarterly revenue was down 12.6% on a year-over-year basis. Equities research analysts expect that Ternium will post 4.37 earnings per share for the current year.

Hedge Funds Weigh In On Ternium

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cape Ann Asset Management Ltd raised its stake in shares of Ternium by 15.0% during the 1st quarter. Cape Ann Asset Management Ltd now owns 871,685 shares of the basic materials company’s stock worth $27,162,000 after buying an additional 113,536 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Ternium by 4.4% during the 4th quarter. Bank of America Corp DE now owns 80,912 shares of the basic materials company’s stock worth $2,353,000 after buying an additional 3,398 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Ternium by 51.8% during the 1st quarter. GAMMA Investing LLC now owns 1,913 shares of the basic materials company’s stock worth $60,000 after buying an additional 653 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Ternium during the 1st quarter worth approximately $703,000. Finally, MQS Management LLC purchased a new position in shares of Ternium during the 1st quarter worth approximately $441,000. Institutional investors and hedge funds own 11.98% of the company’s stock.

Ternium Company Profile

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.