Ternium SA (NYSE:TX)’s share price dropped 2.8% during trading on Friday . The company traded as low as $21.48 and last traded at $21.52, with a volume of 173,727 shares. The stock had previously closed at $22.15.

TX has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Ternium SA from $27.00 to $29.50 and gave the stock an “overweight” rating in a research note on Friday, August 5th. Morgan Stanley downgraded shares of Ternium SA from an “overweight” rating to an “equal weight” rating and set a $20.00 price objective for the company. in a research note on Monday, May 9th. They noted that the move was a valuation call. HSBC assumed coverage on Ternium SA in a research report on Friday, May 13th. They set a “buy” rating on the stock. Zacks Investment Research raised Ternium SA from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Saturday, August 6th. Finally, TheStreet raised Ternium SA from a “hold” rating to a “buy” rating in a research report on Tuesday, August 2nd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Ternium SA currently has a consensus rating of “Buy” and a consensus target price of $23.18.

The firm’s 50 day moving average price is $21.45 and its 200 day moving average price is $18.50. The company has a market cap of $4.26 billion and a PE ratio of 28.96.

Ternium SA (NYSE:TX) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.14. During the same period in the previous year, the business posted $0.21 EPS. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $2.01 billion. The business’s revenue for the quarter was down 6.7% on a year-over-year basis. On average, equities research analysts predict that Ternium SA will post $2.49 EPS for the current fiscal year.

A hedge fund recently raised its stake in Ternium SA stock. California Public Employees Retirement System increased its position in Ternium SA (NYSE:TX) by 10.8% during the fourth quarter, according to its most recent Form 13F filing with the 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 0.12% of Ternium SA worth $3,002,000 as of its most recent filing with the SEC.

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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