Ternium (NYSE:TX) Receives Underperform Rating from Bank of America

Ternium (NYSE:TX)‘s stock had its “underperform” rating restated by research analysts at Bank of America in a report issued on Monday, MarketBeat Ratings reports. They presently have a $25.00 price target on the basic materials company’s stock. Bank of America‘s price target would indicate a potential upside of 1.38% from the stock’s previous close.

A number of other brokerages have also issued reports on TX. UBS Group initiated coverage on shares of Ternium in a research note on Wednesday, March 12th. They issued a “neutral” rating and a $32.00 target price on the stock. The Goldman Sachs Group lowered their price objective on Ternium from $39.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $37.00.

Ternium Price Performance

Shares of NYSE TX opened at $24.66 on Monday. The business has a 50 day moving average price of $30.35 and a two-hundred day moving average price of $31.84. Ternium has a fifty-two week low of $24.35 and a fifty-two week high of $44.44. The firm has a market cap of $4.84 billion, a PE ratio of -88.06, a price-to-earnings-growth ratio of 0.38 and a beta of 1.56. The company has a quick ratio of 1.67, a current ratio of 2.88 and a debt-to-equity ratio of 0.11.

Ternium (NYSE:TX) last released its quarterly earnings results on Tuesday, February 18th. The basic materials company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($1.39). The company had revenue of $3.88 billion for the quarter, compared to analyst estimates of $4.18 billion. Ternium had a positive return on equity of 1.82% and a negative net margin of 0.31%. Sell-side analysts expect 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 modified their holdings of the business. GAMMA Investing LLC boosted its stake in Ternium by 4,630.9% in the first quarter. GAMMA Investing LLC now owns 59,609 shares of the basic materials company’s stock valued at $1,913,000 after acquiring an additional 58,349 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Ternium by 15.5% in the 4th quarter. Wellington Management Group LLP now owns 208,827 shares of the basic materials company’s stock worth $6,073,000 after purchasing an additional 28,054 shares during the last quarter. Woodline Partners LP boosted its position in Ternium by 28.0% during the 4th quarter. Woodline Partners LP now owns 365,693 shares of the basic materials company’s stock valued at $10,634,000 after purchasing an additional 79,935 shares during the period. Silvercrest Asset Management Group LLC bought a new position in Ternium during the 4th quarter worth $856,000. Finally, PointState Capital LP acquired a new stake in Ternium in the fourth quarter worth $4,112,000. 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.