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

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 price target on the stock in a report on Wednesday, April 27th. HSBC initiated coverage on shares of Ternium SA in a report on Friday, May 13th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. lifted their price target on shares of Ternium SA from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, July 7th. Morgan Stanley downgraded shares of Ternium SA from an “overweight” rating to an “equal weight” rating and set a $20.00 target price on the stock. in a 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 report on Tuesday, August 2nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $23.18.

The company’s 50-day moving average is $21.45 and its 200 day moving average is $18.50. The stock has a market cap of $4.26 billion and a P/E ratio of 28.96.

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

A hedge fund recently raised its stake in Ternium SA stock. California Public Employees Retirement System boosted its position in Ternium SA (NYSE:TX) by 10.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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 approximately 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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