Ternium (NYSE:TX) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Ternium S.A. (NYSE:TX) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $35.88 and traded as high as $43.99. Ternium shares last traded at $43.54, with a volume of 276,187 shares changing hands.

Analyst Ratings Changes

Several brokerages recently weighed in on TX. Wall Street Zen cut shares of Ternium from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Wells Fargo & Company boosted their target price on shares of Ternium from $30.00 to $34.00 and gave the stock an “underweight” rating in a report on Wednesday, January 21st. Hsbc Global Res upgraded shares of Ternium to a “strong-buy” rating in a research report on Friday, October 17th. JPMorgan Chase & Co. lifted their price target on Ternium from $39.00 to $40.50 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Finally, UBS Group boosted their price objective on Ternium from $32.00 to $39.00 and gave the stock a “neutral” rating in a research note on Monday, December 15th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.06.

Ternium Trading Up 0.4%

The company’s 50 day simple moving average is $39.14 and its 200-day simple moving average is $35.88. The firm has a market cap of $8.73 billion, a P/E ratio of 14.66 and a beta of 1.36. The company has a quick ratio of 1.42, a current ratio of 2.46 and a debt-to-equity ratio of 0.10.

Ternium (NYSE:TX) last issued its quarterly earnings results on Tuesday, October 28th. The basic materials company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.68). Ternium had a return on equity of 1.89% and a net margin of 3.72%.The business had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the previous year, the company posted $0.16 earnings per share. The company’s quarterly revenue was down 11.7% compared to the same quarter last year. As a group, research analysts predict that Ternium S.A. will post 4.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its holdings in Ternium by 31.5% during the 1st quarter. Royal Bank of Canada now owns 26,965 shares of the basic materials company’s stock valued at $840,000 after buying an additional 6,453 shares in the last quarter. Millennium Management LLC raised its stake in shares of Ternium by 569.4% during the first quarter. Millennium Management LLC now owns 126,827 shares of the basic materials company’s stock valued at $3,952,000 after acquiring an additional 107,880 shares in the last quarter. Ninety One UK Ltd raised its stake in shares of Ternium by 5.2% during the second quarter. Ninety One UK Ltd now owns 2,407,110 shares of the basic materials company’s stock valued at $72,454,000 after acquiring an additional 118,595 shares in the last quarter. Ninety One North America Inc. boosted its holdings in shares of Ternium by 23.4% in the second quarter. Ninety One North America Inc. now owns 1,023,049 shares of the basic materials company’s stock valued at $30,794,000 after purchasing an additional 194,174 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its stake in Ternium by 5.2% in the second quarter. Robeco Institutional Asset Management B.V. now owns 403,293 shares of the basic materials company’s stock worth $12,139,000 after purchasing an additional 20,000 shares in the last quarter. Hedge funds and other institutional investors own 11.98% of the company’s stock.

Ternium Company Profile

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.