Tenaris (NYSE:TS) Raised to “Buy” at Jefferies Financial Group

Tenaris (NYSE:TS) was upgraded by stock analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a note issued to investors on Monday, MarketBeat.com reports. The brokerage currently has a $47.00 price target on the industrial products company’s stock, up from their prior price target of $35.00. Jefferies Financial Group’s target price would indicate a potential upside of 22.11% from the company’s previous close.

TS has been the topic of several other research reports. StockNews.com upgraded shares of Tenaris from a “hold” rating to a “buy” rating in a report on Wednesday, November 27th. Stifel Nicolaus decreased their target price on Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.75.

Tenaris Stock Performance

TS opened at $38.49 on Monday. Tenaris has a 1 year low of $27.24 and a 1 year high of $40.72. The firm has a 50 day moving average price of $34.81 and a 200 day moving average price of $31.88. The company has a market cap of $22.38 billion, a PE ratio of 8.39 and a beta of 1.46.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. bought a new position in Tenaris during the 3rd quarter valued at $33,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Tenaris in the 2nd quarter valued at about $32,000. Covestor Ltd bought a new position in shares of Tenaris during the third quarter worth about $40,000. Wilmington Savings Fund Society FSB bought a new position in shares of Tenaris during the third quarter worth about $67,000. Finally, Blue Trust Inc. grew its stake in Tenaris by 79.0% in the second quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company’s stock worth $110,000 after purchasing an additional 1,583 shares in the last quarter. Hedge funds and other institutional investors own 10.45% of the company’s stock.

Tenaris Company Profile

Tenaris SA, together with its subsidiaries, produces and sells seamless and welded steel tubular products and related services for the oil and gas industry, and other industrial applications. The company offers steel casings, tubing products, mechanical and structural pipes, line pipes, cold-drawn pipes, and premium joints and couplings; and coiled tubing products for oil and gas drilling and workovers, and subsea pipelines.