Ternium (NYSE:TX) Rating Increased to Strong Sell at Wells Fargo & Company

Ternium (NYSE:TX) was upgraded by equities research analysts at Wells Fargo & Company to a “strong sell” rating in a research note issued on Thursday,Zacks.com reports.

Other analysts have also recently issued research reports about the company. Scotiabank reduced their price target on Ternium from $53.00 to $41.00 and set a “sector outperform” rating for the company in a research report on Thursday, July 17th. Morgan Stanley cut Ternium from an “overweight” rating to an “equal weight” rating and set a $34.00 price target for the company. in a research report on Monday, July 21st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Ternium presently has a consensus rating of “Hold” and a consensus target price of $32.83.

Ternium Price Performance

Shares of NYSE:TX opened at $32.50 on Thursday. Ternium has a fifty-two week low of $24.00 and a fifty-two week high of $37.98. The business has a 50-day moving average of $31.11 and a two-hundred day moving average of $29.95. The stock has a market capitalization of $6.52 billion, a P/E ratio of 10.73 and a beta of 1.53. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 1.59.

Ternium (NYSE:TX) last announced its quarterly earnings results on Tuesday, July 29th. The basic materials company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.62. Ternium had a return on equity of 1.95% and a net margin of 3.66%. The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $4.19 billion. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. The business’s quarterly revenue was down 12.6% compared to the same quarter last year. On average, equities research analysts predict that Ternium will post 4.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Ternium

Hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC raised its position in shares of Ternium by 4.6% during the second quarter. Lazard Asset Management LLC now owns 5,358,772 shares of the basic materials company’s stock valued at $161,298,000 after buying an additional 237,741 shares during the last quarter. Donald Smith & CO. Inc. raised its position in shares of Ternium by 10.1% during the second quarter. Donald Smith & CO. Inc. now owns 3,412,385 shares of the basic materials company’s stock valued at $102,713,000 after buying an additional 312,595 shares during the last quarter. Ninety One UK Ltd raised its position 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 buying an additional 118,595 shares during the last quarter. Schroder Investment Management Group raised its position in shares of Ternium by 11.0% during the second quarter. Schroder Investment Management Group now owns 2,177,525 shares of the basic materials company’s stock valued at $65,544,000 after buying an additional 216,301 shares during the last quarter. Finally, Ninety One North America Inc. raised its position in shares of Ternium by 23.4% during 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 buying an additional 194,174 shares during the last quarter. 11.98% of the stock is currently owned by institutional investors.

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.