Shares of Ternium SA (NYSE:TX) dropped 2.7% during mid-day trading on Friday . The stock traded as low as $21.93 and last traded at $21.96, with a volume of 184,047 shares traded. The stock had previously closed at $22.58.

TX has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Ternium SA from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Wednesday, April 27th. HSBC initiated coverage on shares of Ternium SA in a research report on Friday, May 13th. They set a “buy” rating on the stock. JPMorgan Chase & Co. increased their price target on shares of Ternium SA from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, July 7th. Morgan Stanley lowered shares of Ternium SA from an “overweight” rating to an “equal weight” rating and set a $20.00 price target on the stock. in a research report on Monday, May 9th. They noted that the move was a valuation call. Finally, TheStreet upgraded shares of Ternium SA from a “hold” rating to a “buy” rating in a research report on Tuesday, August 2nd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Ternium SA has a consensus rating of “Buy” and an average target price of $23.18.

The company has a market cap of $4.31 billion and a PE ratio of 29.28. The firm’s 50 day moving average price is $20.93 and its 200 day moving average price is $18.12.

Ternium SA (NYSE:TX) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.64 by $0.14. The company 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 period in the prior year, the firm posted $0.21 EPS. Equities research analysts expect that Ternium SA will post $2.39 EPS for the current fiscal year.

A hedge fund recently raised its stake in Ternium SA stock. California Public Employees Retirement System raised its stake in shares of Ternium SA (NYSE:TX) by 10.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

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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