Ternium (NYSE:TX) Price Target Lowered to $39.00 at The Goldman Sachs Group

Ternium (NYSE:TX) had its price objective cut by The Goldman Sachs Group from $45.00 to $39.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 30.22% from the stock’s previous close.

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

Ternium Price Performance

Shares of NYSE TX opened at $29.95 on Thursday. The stock’s 50-day simple moving average is $29.85 and its two-hundred day simple moving average is $32.93. Ternium has a twelve month low of $28.37 and a twelve month high of $44.44. The firm has a market capitalization of $5.88 billion, a P/E ratio of 74.88, a P/E/G ratio of 0.34 and a beta of 1.76. The company has a quick ratio of 1.67, a current ratio of 2.92 and a debt-to-equity ratio of 0.11.

Ternium (NYSE:TX) last posted its quarterly earnings data on Tuesday, November 5th. The basic materials company reported $0.16 earnings per share 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 company had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.45 billion. During the same period in the prior year, the business earned $1.38 earnings per share. Ternium’s revenue for the quarter was down 13.6% compared to the same quarter last year. As a group, equities analysts anticipate that Ternium will post 3.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Ternium

A number of hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its position in Ternium by 72.1% in the 3rd 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 last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Ternium in the 4th quarter worth approximately $54,000. R Squared Ltd purchased a new stake in shares of Ternium in the 4th quarter valued at $88,000. SBI Securities Co. Ltd. bought a new position in shares of Ternium during the 4th quarter valued at $104,000. Finally, Blue Trust Inc. grew its holdings in shares of Ternium by 216.9% during the 3rd quarter. Blue Trust Inc. now owns 4,535 shares of the basic materials company’s stock valued at $170,000 after purchasing an additional 3,104 shares during the last quarter. 11.98% of the stock is currently owned by hedge funds and other institutional investors.

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.