Ternium (NYSE:TX) Price Target Cut to $35.00 by Analysts at The Goldman Sachs Group

Ternium (NYSE:TX) had its price objective cut by equities researchers at The Goldman Sachs Group from $39.00 to $35.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 15.82% from the stock’s previous close.

Separately, UBS Group started coverage on Ternium in a report on Wednesday, March 12th. They set a “neutral” rating and a $32.00 target price for the company.

Ternium Trading Down 3.4 %

NYSE:TX traded down $1.06 during mid-day trading on Thursday, reaching $30.22. The company’s stock had a trading volume of 243,895 shares, compared to its average volume of 258,924. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.88 and a quick ratio of 1.67. The stock has a market cap of $5.93 billion, a P/E ratio of -107.92, a P/E/G ratio of 0.38 and a beta of 1.76. The company’s fifty day simple moving average is $30.61 and its two-hundred day simple moving average is $32.12. Ternium has a twelve month low of $28.00 and a twelve month high of $44.44.

Ternium (NYSE:TX) last released its earnings results on Tuesday, February 18th. The basic materials company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($1.39). Ternium had a negative net margin of 0.31% and a positive return on equity of 1.82%. The company had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $4.18 billion. On average, equities analysts predict that Ternium will post 4.37 EPS for the current year.

Institutional Investors Weigh In On Ternium

Several hedge funds have recently modified their holdings of TX. NewEdge Advisors LLC boosted its holdings in Ternium by 500.0% in the 4th quarter. NewEdge Advisors LLC now owns 1,200 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 1,000 shares during the period. Headlands Technologies LLC lifted its position in shares of Ternium by 249.5% during the fourth quarter. Headlands Technologies LLC now owns 1,681 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 1,200 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Ternium in the fourth quarter valued at $54,000. Aquatic Capital Management LLC grew its holdings in Ternium by 28.4% during the 4th quarter. Aquatic Capital Management LLC now owns 2,182 shares of the basic materials company’s stock valued at $63,000 after purchasing an additional 482 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in Ternium during the 4th quarter worth $88,000. 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.