Ternium SA (NYSE:TX) shares dropped 2.9% during mid-day trading on Thursday . The company traded as low as $22.57 and last traded at $22.71, with a volume of 298,182 shares trading hands. The stock had previously closed at $23.40.

TX has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Ternium SA from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Wednesday, April 27th. TheStreet raised Ternium SA from a “hold” rating to a “buy” rating in a research note on Tuesday. HSBC assumed coverage on Ternium SA in a research note on Friday, May 13th. They issued a “buy” rating for the company. Morgan Stanley cut Ternium SA from an “overweight” rating to an “equal weight” rating and set a $20.00 price target for the company. in a research note on Monday, May 9th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. upped their price target on Ternium SA from $27.00 to $29.50 and gave the company an “overweight” rating in a research note on Friday. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $23.18.

The stock has a 50 day moving average price of $20.50 and a 200-day moving average price of $17.70. The firm has a market capitalization of $4.52 billion and a price-to-earnings ratio of 30.77.

Ternium SA (NYSE:TX) last released its earnings results on Tuesday, August 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.14. The business earned $1.86 billion during the quarter, compared to the consensus estimate of $2.01 billion. The business’s revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.21 EPS. Equities analysts anticipate that Ternium SA will post $2.32 earnings per share for the current year.

A hedge fund recently raised its stake in Ternium SA stock. California Public Employees Retirement System raised its position in shares of Ternium SA (NYSE:TX) by 10.8% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 241,500 shares of the company’s stock after buying an additional 23,600 shares during the period. California Public Employees Retirement System owned about 0.12% of Ternium SA worth $3,002,000 at the end of the most recent reporting period.

Ternium SA is a steel producer in Latin America. The Company manufactures and processes a range of steel products, including galvanized and electro-galvanized sheets, pre-painted sheets, tinplate, welded pipes, hot-rolled flat products, cold-rolled products, bars and wire rods, as well as slitted and cut-to-length offerings through its service centers.

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