A number of other equities analysts also recently issued reports on the company. KeyCorp restated a buy rating and issued a $80.00 price target (up from $73.00) on shares of Tenneco in a research note on Monday, October 30th. They noted that the move was a valuation call. Wells Fargo & Co decreased their target price on Tenneco from $68.00 to $64.00 and set a market perform rating on the stock in a report on Monday, October 30th. Royal Bank of Canada reissued a hold rating and set a $64.00 price target on shares of Tenneco in a report on Wednesday, December 20th. Barclays reaffirmed a buy rating and issued a $74.00 target price on shares of Tenneco in a report on Tuesday, January 9th. Finally, ValuEngine cut Tenneco from a buy rating to a hold rating in a report on Saturday, February 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. The company has an average rating of Hold and an average price target of $67.00.
Shares of Tenneco (TEN) traded down $0.14 during trading on Monday, reaching $56.62. The company’s stock had a trading volume of 41,381 shares, compared to its average volume of 532,414. The firm has a market capitalization of $2,899.28, a PE ratio of 14.53, a PEG ratio of 0.60 and a beta of 1.90. The company has a quick ratio of 0.93, a current ratio of 1.33 and a debt-to-equity ratio of 2.29. Tenneco has a 12-month low of $51.54 and a 12-month high of $67.93.
Tenneco (NYSE:TEN) last posted its quarterly earnings data on Friday, February 9th. The auto parts company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.25. Tenneco had a return on equity of 53.94% and a net margin of 2.22%. The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the prior year, the business earned $1.67 EPS. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. analysts expect that Tenneco will post 7.41 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Tuesday, March 6th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.77%. Tenneco’s dividend payout ratio (DPR) is presently 25.58%.
In related news, insider Peng Guo sold 5,558 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $57.69, for a total transaction of $320,641.02. Following the completion of the transaction, the insider now owns 87,957 shares in the company, valued at approximately $5,074,239.33. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.70% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC boosted its position in shares of Tenneco by 107.4% during the 2nd quarter. Advisory Services Network LLC now owns 2,184 shares of the auto parts company’s stock worth $126,000 after purchasing an additional 1,131 shares during the period. Cerebellum GP LLC purchased a new stake in shares of Tenneco in the fourth quarter valued at about $129,000. Advisor Group Inc. raised its position in shares of Tenneco by 83.1% in the third quarter. Advisor Group Inc. now owns 2,364 shares of the auto parts company’s stock valued at $143,000 after buying an additional 1,073 shares during the last quarter. Fortaleza Asset Management Inc. raised its position in shares of Tenneco by 122.5% in the third quarter. Fortaleza Asset Management Inc. now owns 2,670 shares of the auto parts company’s stock valued at $162,000 after buying an additional 1,470 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Tenneco by 42.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,233 shares of the auto parts company’s stock valued at $189,000 after buying an additional 961 shares during the last quarter. Institutional investors and hedge funds own 92.07% of the company’s stock.
Tenneco Inc is a producer of clean air and ride performance products and systems for light vehicle, commercial truck, off-highway and other vehicle applications. The Company designs, manufactures and distributes highly engineered products for both original equipment vehicle manufacturers (OEMs) and the repair and replacement markets, or aftermarket, across the world.
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