JPMorgan Chase & Co. Boosts Ternium (NYSE:TX) Price Target to $56.00

Ternium (NYSE:TX) had its price target raised by JPMorgan Chase & Co. from $54.00 to $56.00 in a research note published on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the basic materials company’s stock.

TX has been the topic of a number of other research reports. The Goldman Sachs Group raised their price target on Ternium from $49.00 to $54.00 and gave the stock a buy rating in a report on Thursday, April 4th. StockNews.com raised Ternium from a buy rating to a strong-buy rating in a report on Tuesday, May 7th. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Buy and a consensus target price of $52.33.

Ternium Stock Performance

Shares of TX stock opened at $43.18 on Tuesday. The stock’s 50-day moving average is $42.42 and its two-hundred day moving average is $40.68. The firm has a market cap of $8.48 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 0.23 and a beta of 1.69. Ternium has a 1 year low of $35.22 and a 1 year high of $45.58. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.98 and a current ratio of 3.32.

Ternium (NYSE:TX) last issued its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.54. The company had revenue of $4.78 billion for the quarter, compared to analyst estimates of $4.77 billion. Ternium had a return on equity of 10.21% and a net margin of 3.53%. The business’s quarterly revenue was up 31.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.91 earnings per share. Analysts predict that Ternium will post 7.02 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TX. Victory Capital Management Inc. raised its position in shares of Ternium by 48.7% during the 3rd quarter. Victory Capital Management Inc. now owns 966,286 shares of the basic materials company’s stock worth $38,555,000 after purchasing an additional 316,432 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Ternium by 20,865.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 220,765 shares of the basic materials company’s stock valued at $9,188,000 after acquiring an additional 219,712 shares during the last quarter. CWA Asset Management Group LLC raised its holdings in Ternium by 430.7% in the 3rd quarter. CWA Asset Management Group LLC now owns 195,610 shares of the basic materials company’s stock valued at $7,805,000 after acquiring an additional 158,751 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in Ternium by 277.7% in the 4th quarter. Allianz Asset Management GmbH now owns 196,082 shares of the basic materials company’s stock valued at $8,328,000 after acquiring an additional 144,171 shares during the last quarter. Finally, Absolute Gestao de Investimentos Ltda. acquired a new position in Ternium in the 1st quarter valued at $5,426,000. 11.98% of the stock is currently owned by institutional investors and hedge funds.

Ternium Company Profile

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.