Bradesco Corretora Reiterates “Neutral” Rating for Ternium (NYSE:TX)

Bradesco Corretora reissued their neutral rating on shares of Ternium (NYSE:TX) in a research note published on Tuesday, BenzingaRatingsTable reports. They currently have a $19.00 price target on the basic materials company’s stock.

A number of other research firms have also recently issued reports on TX. Morgan Stanley cut Ternium from an overweight rating to an equal weight rating and set a $27.00 price objective for the company. in a report on Monday, August 12th. UBS Group dropped their price objective on Ternium from $35.00 to $28.00 and set a neutral rating for the company in a report on Friday, May 31st. JPMorgan Chase & Co. cut Ternium from an overweight rating to a neutral rating and set a $25.50 price objective for the company. in a report on Monday, May 6th. Finally, Zacks Investment Research cut Ternium from a hold rating to a sell rating in a report on Saturday, May 4th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $27.75.

TX opened at $16.84 on Tuesday. The business has a fifty day moving average of $21.50 and a 200 day moving average of $25.45. Ternium has a 52-week low of $16.35 and a 52-week high of $32.99. The company has a quick ratio of 1.16, a current ratio of 2.30 and a debt-to-equity ratio of 0.27. The stock has a market cap of $3.31 billion, a P/E ratio of 2.20, a PEG ratio of 0.76 and a beta of 0.60.

Hedge funds have recently modified their holdings of the business. Northern Trust Corp increased its position in Ternium by 633.9% during the fourth quarter. Northern Trust Corp now owns 160,327 shares of the basic materials company’s stock worth $4,345,000 after acquiring an additional 138,482 shares during the period. Bank of America Corp DE increased its position in Ternium by 122.3% during the fourth quarter. Bank of America Corp DE now owns 75,183 shares of the basic materials company’s stock worth $2,038,000 after acquiring an additional 41,364 shares during the period. DNB Asset Management AS grew its stake in Ternium by 3.7% during the first quarter. DNB Asset Management AS now owns 22,455 shares of the basic materials company’s stock worth $611,000 after buying an additional 800 shares in the last quarter. Deltec Asset Management LLC grew its stake in Ternium by 7.4% during the first quarter. Deltec Asset Management LLC now owns 85,831 shares of the basic materials company’s stock worth $2,336,000 after buying an additional 5,941 shares in the last quarter. Finally, Investors Research Corp acquired a new stake in Ternium during the first quarter worth about $177,000. Institutional investors and hedge funds own 18.14% of the company’s stock.

Ternium Company Profile

Ternium SA, through its subsidiaries, manufactures and processes various steel products in Mexico, Argentina, Paraguay, Chile, Bolivia, Uruguay, Brazil, the United States, Colombia, Guatemala, Costa Rica, Honduras, El Salvador, and Nicaragua. It operates in two segments, Steel and Mining. The Steel segment offers steel products, including slabs, billets and round bars, hot rolled flat products, merchant bars, reinforcing bars, stirrups and rods, tin plate and galvanized products, tubes, beams, insulated panels, roofing and cladding, roof tiles, steel decks, pre-engineered metal building systems, and pig iron; and sells energy.

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Analyst Recommendations for Ternium (NYSE:TX)

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