UBS Group Initiates Coverage on Ternium (NYSE:TX)

UBS Group started coverage on shares of Ternium (NYSE:TX) in a note issued to investors on Wednesday, Marketbeat.com reports. The brokerage set a “neutral” rating and a $32.00 price target on the basic materials company’s stock. UBS Group’s price target would suggest a potential downside of 1.05% from the company’s current price.

A number of other equities analysts have also commented on TX. StockNews.com lowered Ternium from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. The Goldman Sachs Group dropped their price objective on Ternium from $45.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th.

Ternium Price Performance

NYSE TX opened at $32.34 on Wednesday. Ternium has a fifty-two week low of $28.00 and a fifty-two week high of $44.44. The stock’s 50-day moving average is $29.72 and its two-hundred day moving average is $32.21. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.88 and a quick ratio of 1.67. The firm has a market cap of $6.35 billion, a P/E ratio of -115.50, a price-to-earnings-growth ratio of 0.38 and a beta of 1.76.

Ternium (NYSE:TX) last posted its earnings results on Tuesday, February 18th. The basic materials company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of $0.97 by ($1.39). Ternium had a negative net margin of 0.31% and a positive return on equity of 1.82%. The company had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $4.18 billion. On average, analysts anticipate that Ternium will post 4.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ternium

A number of institutional investors have recently added to or reduced their stakes in the company. Woodline Partners LP grew its position in Ternium by 28.0% during the fourth quarter. Woodline Partners LP now owns 365,693 shares of the basic materials company’s stock worth $10,634,000 after buying an additional 79,935 shares in the last quarter. Silvercrest Asset Management Group LLC acquired a new stake in Ternium during the fourth quarter worth about $856,000. PointState Capital LP acquired a new stake in Ternium during the fourth quarter worth about $4,112,000. Millennium Management LLC grew its position in Ternium by 70.8% during the fourth quarter. Millennium Management LLC now owns 18,947 shares of the basic materials company’s stock worth $551,000 after buying an additional 7,853 shares in the last quarter. Finally, Cornerstone Select Advisors LLC acquired a new stake in Ternium during the fourth quarter worth about $215,000. 11.98% of the stock is owned by institutional investors and hedge funds.

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.