UBS upgraded shares of Tenaris (NYSE:TS) from a sell rating to a hold rating in a research note published on Friday. They currently have $38.00 price target on the industrial products company’s stock.
TS has been the subject of several other reports. Capital One Financial reiterated an equal weight rating on shares of Tenaris in a research note on Thursday, February 22nd. TheStreet raised shares of Tenaris from a c rating to a b- rating in a research report on Tuesday, December 12th. Barclays initiated coverage on shares of Tenaris in a research report on Wednesday, December 20th. They set an overweight rating and a $39.00 target price on the stock. Piper Jaffray Companies set a $40.00 target price on shares of Tenaris and gave the stock a buy rating in a research report on Saturday, March 10th. Finally, Guggenheim reissued a buy rating and set a $46.00 target price on shares of Tenaris in a research report on Friday, March 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of $38.08.
Tenaris (NYSE TS) traded up $0.47 on Friday, reaching $35.48. 1,789,044 shares of the company’s stock traded hands, compared to its average volume of 2,930,405. Tenaris has a 12 month low of $25.91 and a 12 month high of $37.48. The stock has a market capitalization of $20,665.28, a P/E ratio of 38.15 and a beta of 0.72.
Tenaris (NYSE:TS) last released its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.06. Tenaris had a net margin of 10.30% and a return on equity of 3.92%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.49 billion. sell-side analysts anticipate that Tenaris will post 1.1 EPS for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Elkfork Partners LLC acquired a new stake in Tenaris in the fourth quarter valued at $154,000. Glenmede Trust Co. NA raised its holdings in Tenaris by 203.2% in the fourth quarter. Glenmede Trust Co. NA now owns 5,167 shares of the industrial products company’s stock valued at $164,000 after acquiring an additional 3,463 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in Tenaris in the fourth quarter valued at $213,000. Two Sigma Securities LLC acquired a new stake in Tenaris in the fourth quarter valued at $225,000. Finally, FDx Advisors Inc. acquired a new stake in shares of Tenaris during the third quarter worth $243,000. 12.91% of the stock is currently owned by hedge funds and other institutional investors.
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Tenaris Company Profile
Tenaris SA is a holding company, which is a steel producer with production facilities in Mexico, Argentina, Colombia, United States and Guatemala. The Company supplies round steel bars and flat steel products for its pipes business. It operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the oil and gas industry, principally oil country tubular goods (OCTG) used in drilling operations, and for other industrial applications with production processes that include in the transformation of steel into tubular products.
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