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Ternium (NYSE:TX) Upgraded by Bank of America to "Buy"

Defense World ·  Jan 24, 2023 02:51

Bank of America upgraded shares of Ternium (NYSE:TX – Get Rating) from a neutral rating to a buy rating in a research report report published on Monday morning, The Fly reports. Bank of America currently has $42.00 target price on the basic materials company's stock, up from their prior target price of $38.00.

A number of other equities research analysts also recently issued reports on the stock. Grupo Santander downgraded shares of Ternium from an outperform rating to a neutral rating and cut their price objective for the company from $45.00 to $35.00 in a research report on Monday, November 28th. StockNews.com initiated coverage on shares of Ternium in a research report on Wednesday, October 12th. They set a buy rating for the company. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $42.20.

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Ternium Price Performance

Shares of NYSE TX opened at $38.78 on Monday. Ternium has a twelve month low of $26.01 and a twelve month high of $50.36. The firm has a market cap of $7.77 billion, a P/E ratio of 2.79 and a beta of 1.48. The company has a 50 day moving average of $31.84 and a 200 day moving average of $31.25. The company has a quick ratio of 2.31, a current ratio of 4.21 and a debt-to-equity ratio of 0.05.

Ternium (NYSE:TX – Get Rating) last announced its quarterly earnings data on Thursday, November 3rd. The basic materials company reported $0.78 earnings per share for the quarter, missing analysts' consensus estimates of $1.70 by ($0.92). Ternium had a return on equity of 20.59% and a net margin of 15.85%. The firm had revenue of $4.13 billion during the quarter, compared to analysts' expectations of $4.10 billion. As a group, research analysts expect that Ternium will post 9.24 EPS for the current fiscal year.

Ternium Cuts Dividend

The business also recently announced an annual dividend, which was paid on Tuesday, November 22nd. Shareholders of record on Tuesday, November 15th were paid a $0.90 dividend. The ex-dividend date was Monday, November 14th. This represents a yield of 3.25%. Ternium's dividend payout ratio is currently 12.97%.

Hedge Funds Weigh In On Ternium

A number of hedge funds and other institutional investors have recently modified their holdings of the business. State of New Jersey Common Pension Fund D lifted its position in Ternium by 137.6% during the second quarter. State of New Jersey Common Pension Fund D now owns 78,575 shares of the basic materials company's stock valued at $2,836,000 after acquiring an additional 45,500 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in shares of Ternium by 0.9% in the third quarter. Crossmark Global Holdings Inc. now owns 167,989 shares of the basic materials company's stock worth $4,601,000 after acquiring an additional 1,497 shares during the period. Channing Global Advisors LLC increased its stake in shares of Ternium by 16.8% in the second quarter. Channing Global Advisors LLC now owns 61,709 shares of the basic materials company's stock worth $2,227,000 after acquiring an additional 8,856 shares during the period. Liontrust Investment Partners LLP acquired a new stake in Ternium during the second quarter valued at $722,000. Finally, Connectus Wealth LLC grew its position in Ternium by 14.3% during the second quarter. Connectus Wealth LLC now owns 68,821 shares of the basic materials company's stock valued at $2,487,000 after buying an additional 8,629 shares during the period. 10.41% of the stock is currently owned by institutional investors.

Ternium Company Profile

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Ternium SA operates as a flat steel producer. The firm offers a broad range of steel products for customers active in the automotive, home appliances, HVAC, construction, capital goods, container, food and energy industries through its manufacturing facilities, service center and distribution networks, and advanced customer integration systems.

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