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

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

Other research analysts also recently issued research reports about the stock. Piper Sandler assumed coverage on shares of Tenaris in a report on Thursday, December 19th. They set an “overweight” rating and a $48.00 price objective for the company. Jefferies Financial Group raised Tenaris from a “hold” rating to a “buy” rating and increased their price target for the company from $35.00 to $47.00 in a research note on Monday, December 9th. Finally, Stifel Nicolaus cut their price target on Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a report on Friday, October 11th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.75.

Tenaris Stock Performance

Shares of NYSE:TS opened at $38.97 on Friday. The firm has a market cap of $22.66 billion, a price-to-earnings ratio of 8.49 and a beta of 1.45. The firm has a fifty day moving average price of $37.90 and a 200 day moving average price of $33.07. Tenaris has a fifty-two week low of $27.24 and a fifty-two week high of $40.72.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TS. FMR LLC raised its position in Tenaris by 21.3% during the third quarter. FMR LLC now owns 3,503,644 shares of the industrial products company’s stock valued at $111,381,000 after purchasing an additional 614,884 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Tenaris by 187.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,546,184 shares of the industrial products company’s stock worth $80,943,000 after purchasing an additional 1,660,300 shares during the period. Point72 Asset Management L.P. increased its position in shares of Tenaris by 102.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,050,552 shares of the industrial products company’s stock valued at $33,397,000 after purchasing an additional 531,860 shares during the last quarter. Holocene Advisors LP purchased a new stake in Tenaris during the 3rd quarter valued at $21,454,000. Finally, Mediolanum International Funds Ltd bought a new stake in Tenaris in the third quarter worth $17,129,000. Hedge funds and other institutional investors own 10.45% of the company’s stock.

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.