Ternium (NYSE:TX) Cut to “Hold” at Zacks Research

Zacks Research cut shares of Ternium (NYSE:TX) from a strong-buy rating to a hold rating in a report published on Thursday morning,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. Wall Street Zen cut Ternium from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. HSBC set a $41.00 price target on shares of Ternium and gave the stock a “buy” rating in a research note on Friday, October 17th. Hsbc Global Res raised shares of Ternium to a “strong-buy” rating in a research note on Friday, October 17th. UBS Group increased their target price on shares of Ternium from $32.00 to $39.00 and gave the company a “neutral” rating in a report on Monday, December 15th. Finally, Wells Fargo & Company boosted their price target on shares of Ternium from $30.00 to $34.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $36.06.

Ternium Stock Performance

Ternium stock opened at $41.82 on Thursday. Ternium has a fifty-two week low of $24.00 and a fifty-two week high of $44.16. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.42 and a current ratio of 2.46. The stock has a market cap of $8.38 billion, a P/E ratio of 14.08 and a beta of 1.36. The firm’s fifty day moving average price is $39.42 and its 200-day moving average price is $36.04.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TX. GAMMA Investing LLC lifted its holdings in 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 buying an additional 303 shares during the period. Camelot Portfolios LLC bought a new position in shares of Ternium during the fourth quarter valued at approximately $38,000. Advisory Services Network LLC purchased a new stake in Ternium in the third quarter worth $38,000. JPMorgan Chase & Co. boosted its holdings in Ternium by 142.1% in the third quarter. JPMorgan Chase & Co. now owns 1,254 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 736 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in Ternium by 17.5% in the third quarter. Blue Trust Inc. now owns 2,247 shares of the basic materials company’s stock valued at $78,000 after acquiring an additional 335 shares in the last quarter. Hedge funds and other institutional investors own 11.98% of the company’s stock.

About Ternium

Ternium SA (NYSE:TX) is a leading vertically integrated steel producer with operations across the Americas. The company manufactures a broad range of flat and long steel products, including hot‐rolled and cold‐rolled coils, galvanized and tin-coated sheets, plates, rebars, wire rods, bars and structural sections. These products serve diverse end markets such as automotive, construction, energy, industrial machinery, home appliances and packaging.

Established in 2005 through the consolidation of steel assets in Argentina and Mexico, Ternium has grown to operate major production facilities in Argentina, Brazil, Mexico, Colombia, Central America and the United States.