Bank of America upgraded shares of Ternium (NYSE:TX – Get Rating) from a neutral rating to a buy rating in a research note published on Monday, The Fly reports. Bank of America currently has $42.00 price objective on the basic materials company's stock, up from their previous price objective of $38.00.
Other analysts also recently issued research reports about the company. StockNews.com initiated coverage on Ternium in a research note on Wednesday, October 12th. They issued a buy rating on the stock. Grupo Santander downgraded Ternium from an outperform rating to a neutral rating and dropped their price target for the company from $45.00 to $35.00 in a research note on Monday, November 28th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $42.20.
Get Ternium alerts:Ternium Stock Performance
Shares of Ternium stock opened at $40.54 on Monday. The company has a market capitalization of $8.13 billion, a PE ratio of 2.92 and a beta of 1.48. Ternium has a 12 month low of $26.01 and a 12 month high of $50.36. The company has a current ratio of 4.21, a quick ratio of 2.31 and a debt-to-equity ratio of 0.05. The stock's fifty day simple moving average is $32.33 and its 200 day simple moving average is $31.41.
Ternium (NYSE:TX – Get Rating) last issued its quarterly earnings data on Thursday, November 3rd. The basic materials company reported $0.78 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.92). Ternium had a return on equity of 20.59% and a net margin of 15.85%. The business had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.10 billion. On average, research analysts predict that Ternium will post 9.24 EPS for the current year.Ternium Cuts Dividend
The firm also recently declared an annual dividend, which was paid on Tuesday, November 22nd. Investors of record on Tuesday, November 15th were issued a dividend of $0.90 per share. This represents a yield of 3.25%. The ex-dividend date of this dividend was Monday, November 14th. Ternium's payout ratio is currently 12.97%.
Institutional Investors Weigh In On Ternium
Hedge funds have recently bought and sold shares of the stock. Larson Financial Group LLC acquired a new stake in shares of Ternium in the second quarter valued at approximately $25,000. Penserra Capital Management LLC acquired a new position in Ternium during the third quarter valued at approximately $35,000. Captrust Financial Advisors raised its position in Ternium by 100.0% during the first quarter. Captrust Financial Advisors now owns 1,000 shares of the basic materials company's stock valued at $46,000 after purchasing an additional 500 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new position in Ternium during the second quarter valued at approximately $50,000. Finally, Tower Research Capital LLC TRC bought a new stake in shares of Ternium during the third quarter worth $57,000. 10.41% of the stock is currently owned by institutional investors and hedge funds.
About Ternium
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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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