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

StockNews.com upgraded shares of Tenaris (NYSE:TS) from a hold rating to a buy rating in a report released on Thursday morning.

Other equities analysts have also issued reports about the company. Kepler Capital Markets lowered Tenaris from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Bank of America downgraded Tenaris from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 29th. Jefferies Financial Group upgraded Tenaris from a “hold” rating to a “buy” rating and lifted their target price for the stock from $35.00 to $47.00 in a research note on Monday, December 9th. Finally, Piper Sandler began coverage on shares of Tenaris in a research note on Thursday, December 19th. They issued an “overweight” rating and a $48.00 price objective for the company. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $42.75.

Tenaris Price Performance

Shares of Tenaris stock opened at $38.57 on Thursday. The business has a 50-day simple moving average of $38.33 and a 200 day simple moving average of $34.38. Tenaris has a one year low of $27.24 and a one year high of $40.72. The firm has a market capitalization of $22.42 billion, a price-to-earnings ratio of 10.68 and a beta of 1.44.

Tenaris (NYSE:TS) last issued its quarterly earnings data 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 firm had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.71 billion. On average, sell-side analysts expect that Tenaris will post 3.14 EPS for the current year.

Hedge Funds Weigh In On Tenaris

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc bought a new stake in Tenaris during the fourth quarter worth about $28,000. GAMMA Investing LLC boosted its stake in Tenaris by 140.2% in the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock worth $35,000 after buying an additional 548 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Tenaris in the third quarter worth approximately $33,000. EverSource Wealth Advisors LLC grew 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 valued at $41,000 after acquiring an additional 478 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Tenaris during the fourth quarter worth approximately $42,000. Hedge funds and other institutional investors own 10.45% of the company’s stock.

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.