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

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

A number of other equities research analysts have also commented on TS. Bank of America lowered shares of Tenaris from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 29th. Kepler Capital Markets cut Tenaris from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Piper Sandler began coverage on Tenaris in a report on Thursday, December 19th. They issued an “overweight” rating and a $48.00 price target on the stock. Finally, Jefferies Financial Group upgraded Tenaris from a “hold” rating to a “buy” rating and increased their price objective for the stock from $35.00 to $47.00 in a report on Monday, December 9th. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $44.50.

Tenaris Trading Down 2.3 %

NYSE:TS opened at $37.72 on Thursday. The stock has a market cap of $21.93 billion, a price-to-earnings ratio of 10.45 and a beta of 1.44. The stock has a 50-day moving average price of $38.33 and a two-hundred day moving average price of $34.41. Tenaris has a 1 year low of $27.24 and a 1 year high of $40.72.

Tenaris (NYSE:TS) last posted its earnings results on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.31. The business had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. Sell-side analysts forecast that Tenaris will post 3.14 earnings per share for the current year.

Hedge Funds Weigh In On Tenaris

Hedge funds have recently modified their holdings of the stock. Creative Planning raised its holdings in Tenaris by 8.2% during the third quarter. Creative Planning now owns 31,176 shares of the industrial products company’s stock worth $991,000 after acquiring an additional 2,352 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Tenaris by 95.9% during the 3rd quarter. Blue Trust Inc. now owns 7,028 shares of the industrial products company’s stock worth $214,000 after purchasing an additional 3,440 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Tenaris by 36.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,420 shares of the industrial products company’s stock valued at $45,000 after buying an additional 377 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Tenaris by 11.6% in the 3rd quarter. Signaturefd LLC now owns 18,229 shares of the industrial products company’s stock valued at $580,000 after buying an additional 1,891 shares during the last quarter. Finally, Greenleaf Trust bought a new position in shares of Tenaris in the third quarter valued at $304,000. 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.