Ternium (NYSE:TX) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Ternium (NYSE:TX) had its target price boosted by analysts at JPMorgan Chase & Co. from $39.00 to $40.50 in a report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 13.60% from the stock’s current price.

A number of other research firms have also recently issued reports on TX. HSBC set a $41.00 price objective on shares of Ternium and gave the company a “buy” rating in a research report on Friday. Morgan Stanley cut shares of Ternium from an “overweight” rating to an “equal weight” rating and set a $34.00 price objective on the stock. in a research report on Monday, July 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ternium in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Ternium from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. Finally, Scotiabank cut their target price on shares of Ternium from $41.00 to $40.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, September 3rd. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $34.69.

Ternium Price Performance

TX stock opened at $35.65 on Friday. The firm’s 50-day moving average price is $34.29 and its two-hundred day moving average price is $31.12. Ternium has a 12-month low of $24.00 and a 12-month high of $37.43. The stock has a market capitalization of $7.15 billion, a price-to-earnings ratio of 11.77 and a beta of 1.52. The company has a current ratio of 2.68, a quick ratio of 1.59 and a debt-to-equity ratio of 0.12.

Ternium (NYSE:TX) last released its quarterly earnings data on Tuesday, July 29th. The basic materials company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.62. Ternium had a net margin of 3.66% and a return on equity of 1.95%. The firm had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $4.19 billion. During the same quarter in the previous year, the company earned ($0.11) earnings per share. The company’s revenue for the quarter was down 12.6% compared to the same quarter last year. As a group, equities analysts predict that Ternium will post 4.37 earnings per share for the current year.

Hedge Funds Weigh In On Ternium

A number of institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its position in shares of Ternium by 40.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,061 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 303 shares in the last quarter. Brooklyn Investment Group boosted its position in shares of Ternium by 201,700.0% in the 1st quarter. Brooklyn Investment Group now owns 2,018 shares of the basic materials company’s stock worth $63,000 after purchasing an additional 2,017 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Ternium by 17.5% in the 3rd quarter. Blue Trust Inc. now owns 2,247 shares of the basic materials company’s stock worth $78,000 after purchasing an additional 335 shares in the last quarter. State of Wyoming bought a new stake in shares of Ternium in the 2nd quarter worth approximately $119,000. Finally, Rexford Capital Inc. bought a new stake in shares of Ternium in the 2nd quarter worth approximately $121,000. Institutional investors own 11.98% of the company’s stock.

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.