Tenaris (NYSE:TS) Upgraded by StockNews.com to “Buy” Rating

Tenaris (NYSE:TS) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

A number of other analysts also recently weighed in on TS. Stifel Nicolaus cut their price target on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a report on Friday, October 11th. Jefferies Financial Group upgraded Tenaris from a “hold” rating to a “buy” rating and upped their price objective for the stock from $35.00 to $47.00 in a research report on Monday, December 9th. Finally, Piper Sandler began coverage on Tenaris in a research note on Thursday, December 19th. They set an “overweight” rating and a $48.00 target price for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.75.

Tenaris Price Performance

Shares of NYSE TS opened at $37.76 on Friday. The stock has a market capitalization of $21.95 billion, a PE ratio of 8.23 and a beta of 1.45. Tenaris has a fifty-two week low of $27.24 and a fifty-two week high of $40.72. The business has a fifty day moving average price of $37.04 and a two-hundred day moving average price of $32.61.

Hedge Funds Weigh In On Tenaris

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC grew its holdings in Tenaris by 36.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,420 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 377 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Tenaris by 140.2% during the 4th quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock worth $35,000 after buying an additional 548 shares in the last quarter. Evergreen Capital Management LLC grew its position in shares of Tenaris by 3.7% during the 2nd quarter. Evergreen Capital Management LLC now owns 19,932 shares of the industrial products company’s stock worth $608,000 after buying an additional 710 shares during the period. Versant Capital Management Inc bought a new stake in shares of Tenaris in the 4th quarter valued at $28,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Tenaris during the third quarter worth $33,000. 10.45% of the stock is owned by institutional investors and hedge funds.

About Tenaris

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.