Zacks Investment Research Lowers Ternium (TX) to Hold

Zacks Investment Research lowered shares of Ternium (NYSE:TX) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday.

According to Zacks, “Ternium is the leading producer of flat and long steel products of Latin America and consolidates the operations of the steel companies Hylsa in Mexico, Siderar in Argentina and Sidor in Venezuela. It create value with our customers, jointly improving competitiveness and productivity, through a highly efficient industrial and technological base and a global commercial network. “

A number of other research firms also recently weighed in on TX. ValuEngine downgraded Ternium from a hold rating to a sell rating in a research note on Tuesday, August 7th. Bank of America restated an underperform rating and issued a $32.00 price target on shares of Ternium in a research note on Thursday, August 16th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. Ternium has an average rating of Hold and a consensus target price of $40.67.

Shares of NYSE TX opened at $29.47 on Tuesday. The stock has a market capitalization of $6.17 billion, a PE ratio of 6.53, a P/E/G ratio of 0.60 and a beta of 1.14. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.60 and a quick ratio of 0.67. Ternium has a fifty-two week low of $25.52 and a fifty-two week high of $42.43.

Ternium (NYSE:TX) last announced its quarterly earnings data on Tuesday, July 31st. The basic materials company reported $1.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.83 by ($0.13). The company had revenue of $3.13 billion during the quarter. Ternium had a net margin of 9.42% and a return on equity of 17.93%. As a group, sell-side analysts forecast that Ternium will post 6.56 EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in TX. Deltec Asset Management LLC boosted its position in Ternium by 48.5% during the third quarter. Deltec Asset Management LLC now owns 61,800 shares of the basic materials company’s stock worth $1,872,000 after purchasing an additional 20,170 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd boosted its holdings in shares of Ternium by 21.3% during the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 343,415 shares of the basic materials company’s stock worth $10,402,000 after buying an additional 60,311 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Ternium by 15.9% during the 2nd quarter. Advisors Asset Management Inc. now owns 42,599 shares of the basic materials company’s stock worth $1,483,000 after buying an additional 5,830 shares during the period. Millennium Management LLC boosted its holdings in shares of Ternium by 247.1% during the 2nd quarter. Millennium Management LLC now owns 580,345 shares of the basic materials company’s stock worth $20,208,000 after buying an additional 413,143 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Ternium during the 2nd quarter worth about $408,000. 17.56% of the stock is owned by institutional investors and hedge funds.

About Ternium

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 coils and sheets, bars and stirrups, wire rods, cold-rolled coils and sheets, tin plates, hot dipped galvanized and electrogalvanized sheets and pre-painted sheets, steel pipes and tubular products, beams, and roll formed products, as well as other products, such as pig iron.

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