The Goldman Sachs Group Has Lowered Expectations for Ternium (NYSE:TX) Stock Price

Ternium (NYSE:TX) had its target price cut by analysts at The Goldman Sachs Group from $45.00 to $39.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the basic materials company’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 29.74% from the stock’s current price.

Separately, StockNews.com lowered shares of Ternium from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th.

Ternium Stock Up 2.0 %

Shares of TX traded up $0.58 during midday trading on Thursday, reaching $30.06. The stock had a trading volume of 167,391 shares, compared to its average volume of 222,811. Ternium has a 1-year low of $28.37 and a 1-year high of $44.44. The company’s fifty day simple moving average is $29.97 and its two-hundred day simple moving average is $32.99. The company has a market cap of $5.90 billion, a price-to-earnings ratio of 75.15, a PEG ratio of 0.34 and a beta of 1.76. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.92 and a quick ratio of 1.67.

Ternium (NYSE:TX) last announced its quarterly earnings results on Tuesday, November 5th. The basic materials company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.12 by $0.04. Ternium had a net margin of 0.42% and a return on equity of 4.70%. The firm had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same period last year, the business earned $1.38 EPS. Ternium’s revenue for the quarter was down 13.6% compared to the same quarter last year. Equities research analysts expect that Ternium will post 3.7 earnings per share for the current year.

Hedge Funds Weigh In On Ternium

Several institutional investors and hedge funds have recently bought and sold shares of TX. GAMMA Investing LLC grew its stake in Ternium by 72.1% during the third quarter. GAMMA Investing LLC now owns 919 shares of the basic materials company’s stock worth $34,000 after buying an additional 385 shares during the period. Blue Trust Inc. grew its stake in Ternium by 216.9% during the third quarter. Blue Trust Inc. now owns 4,535 shares of the basic materials company’s stock worth $170,000 after buying an additional 3,104 shares during the period. Oldfield Partners LLP grew its stake in Ternium by 1.9% during the third quarter. Oldfield Partners LLP now owns 261,836 shares of the basic materials company’s stock worth $9,664,000 after buying an additional 4,800 shares during the period. International Assets Investment Management LLC purchased a new stake in Ternium during the third quarter worth approximately $1,353,000. Finally, Donald Smith & CO. Inc. grew its stake in Ternium by 88.6% during the third quarter. Donald Smith & CO. Inc. now owns 2,539,751 shares of the basic materials company’s stock worth $93,742,000 after buying an additional 1,193,110 shares during the period. Institutional investors and hedge funds 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.