Barclays Raises Tenaris (NYSE:TS) Price Target to $50.00

Tenaris (NYSE:TS) had its price objective increased by investment analysts at Barclays from $48.00 to $50.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. Barclays‘s target price suggests a potential upside of 34.86% from the stock’s previous close.

A number of other analysts have also weighed in on TS. Jefferies Financial Group upgraded shares of 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 research note on Monday, December 9th. Bank of America lowered Tenaris from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 29th. Kepler Capital Markets downgraded Tenaris from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Piper Sandler began coverage on Tenaris in a research report on Thursday, December 19th. They set an “overweight” rating and a $48.00 price target for the company. Finally, StockNews.com raised Tenaris from a “hold” rating to a “buy” rating in a report on Thursday, February 20th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tenaris has an average rating of “Hold” and a consensus target price of $46.00.

Tenaris Stock Performance

Shares of TS opened at $37.08 on Monday. The stock has a 50-day moving average of $38.28 and a two-hundred day moving average of $34.71. The stock has a market cap of $21.55 billion, a P/E ratio of 10.27 and a beta of 1.44. Tenaris has a one year low of $27.24 and a one year high of $40.72.

Tenaris (NYSE:TS) last issued its earnings results on Wednesday, February 19th. The industrial products company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.31. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.71 billion. Analysts predict that Tenaris will post 3.14 EPS for the current fiscal year.

Institutional Trading of Tenaris

Several large investors have recently made changes to their positions in TS. Versant Capital Management Inc acquired a new position in Tenaris during the fourth quarter worth about $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Tenaris in the third quarter valued at approximately $33,000. GAMMA Investing LLC grew 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 purchasing an additional 548 shares during the period. Covestor Ltd purchased a new stake in Tenaris in the 3rd quarter valued at about $40,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Tenaris by 78.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 478 shares during the last quarter. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

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.