Tenaris (NYSE:TS) Rating Increased to Buy at StockNews.com

Tenaris (NYSE:TS) was upgraded by equities research 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 have also recently commented on TS. Stifel Nicolaus lifted their price target on Tenaris from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Kepler Capital Markets downgraded Tenaris from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Piper Sandler increased their price target on shares of Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Bank of America cut shares of Tenaris from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 29th. Finally, Barclays increased their price objective on shares of Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Tenaris presently has an average rating of “Hold” and an average target price of $46.00.

Tenaris Stock Performance

Shares of TS stock opened at $38.54 on Friday. Tenaris has a fifty-two week low of $27.24 and a fifty-two week high of $40.72. The firm has a market capitalization of $22.40 billion, a price-to-earnings ratio of 10.67 and a beta of 1.43. The stock’s 50-day simple moving average is $38.18 and its 200-day simple moving average is $35.48.

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

Institutional Trading of Tenaris

A number of hedge funds have recently added to or reduced their stakes in TS. Versant Capital Management Inc purchased a new position in Tenaris in the fourth quarter valued at $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Tenaris during the 3rd quarter valued at about $33,000. GAMMA Investing LLC increased its stake in shares of Tenaris by 140.2% in the 4th quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 548 shares in the last quarter. Covestor Ltd acquired a new position in Tenaris in the 3rd quarter worth about $40,000. Finally, EverSource Wealth Advisors LLC boosted its position in Tenaris by 78.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 478 shares in the last quarter. 10.45% of the stock is owned by hedge funds and other institutional investors.

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.