Ternium (NYSE:TX – Get Free Report) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday.
Several other research firms have also issued reports on TX. JPMorgan Chase & Co. raised their price objective on Ternium from $48.00 to $51.50 and gave the company an “overweight” rating in a research note on Thursday, March 21st. The Goldman Sachs Group lifted their price objective on shares of Ternium from $49.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Finally, TheStreet upgraded shares of Ternium from a “c+” rating to a “b-” rating in a research report on Friday, January 12th. Three research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $50.83.
Ternium Price Performance
Ternium (NYSE:TX – Get Free Report) last announced its earnings results on Wednesday, April 24th. The basic materials company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.54. Ternium had a net margin of 3.53% and a return on equity of 10.21%. The firm had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $4.77 billion. During the same period in the prior year, the company earned $1.91 EPS. The business’s revenue was up 31.9% compared to the same quarter last year. Equities analysts forecast that Ternium will post 6.42 earnings per share for the current year.
Hedge Funds Weigh In On Ternium
A number of large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its position in shares of Ternium by 19.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,759 shares of the basic materials company’s stock worth $75,000 after acquiring an additional 287 shares during the period. WealthTrust Axiom LLC raised its position in Ternium by 1.0% during the 4th quarter. WealthTrust Axiom LLC now owns 29,400 shares of the basic materials company’s stock valued at $1,249,000 after purchasing an additional 300 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Ternium by 49.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,053 shares of the basic materials company’s stock worth $45,000 after buying an additional 350 shares during the period. Key Financial Inc grew its position in shares of Ternium by 5,900.0% during the 4th quarter. Key Financial Inc now owns 600 shares of the basic materials company’s stock worth $25,000 after buying an additional 590 shares in the last quarter. Finally, QRG Capital Management Inc. increased its stake in shares of Ternium by 9.2% during the fourth quarter. QRG Capital Management Inc. now owns 7,359 shares of the basic materials company’s stock valued at $313,000 after buying an additional 622 shares during the period. Hedge funds and other 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.
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