Ternium (NYSE:TX) Raised to Outperform at Credit Suisse Group

Credit Suisse Group upgraded shares of Ternium (NYSE:TX) from a neutral rating to an outperform rating in a research note published on Monday, AnalystRatings.net reports. Credit Suisse Group currently has $41.50 target price on the basic materials company’s stock.

Several other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. raised shares of Ternium from a neutral rating to an overweight rating and lifted their target price for the company from $19.50 to $26.50 in a report on Friday, November 6th. UBS Group raised shares of Ternium from a sell rating to a neutral rating and lifted their target price for the company from $12.00 to $28.00 in a report on Tuesday, November 24th. Finally, ValuEngine lowered shares of Ternium from a hold rating to a sell rating in a report on Tuesday, November 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. Ternium currently has an average rating of Buy and a consensus price target of $25.50.

TX opened at $31.75 on Monday. Ternium has a 12-month low of $9.59 and a 12-month high of $33.99. The company has a current ratio of 2.39, a quick ratio of 1.28 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $6.23 billion, a PE ratio of 32.40, a P/E/G ratio of 2.07 and a beta of 1.25. The firm has a 50 day moving average of $30.03 and a two-hundred day moving average of $21.36.

Ternium (NYSE:TX) last posted its quarterly earnings results on Tuesday, November 3rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.48. Ternium had a net margin of 2.21% and a return on equity of 4.71%. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the firm posted $0.48 EPS. Ternium’s revenue for the quarter was down 11.6% compared to the same quarter last year. As a group, analysts predict that Ternium will post 1.48 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of TX. Advisor Group Holdings Inc. grew its stake in shares of Ternium by 84.7% during the second quarter. Advisor Group Holdings Inc. now owns 6,120 shares of the basic materials company’s stock worth $93,000 after buying an additional 2,806 shares during the last quarter. Freestone Capital Holdings LLC bought a new position in shares of Ternium in the third quarter worth approximately $121,000. Gyon Technologies Capital Management LP bought a new position in shares of Ternium in the third quarter worth approximately $241,000. Jane Street Group LLC bought a new position in shares of Ternium in the second quarter worth approximately $293,000. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Ternium during the second quarter worth $445,000. 18.01% of the stock is owned by institutional investors and hedge funds.

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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