Tenaris (NYSE:TS) Stock Rating Upgraded by 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 report issued to clients and investors on Friday.

A number of other equities research analysts also recently weighed in on the company. Piper Sandler initiated coverage on Tenaris in a research report on Thursday, December 19th. They set an “overweight” rating and a $48.00 target price for the company. Jefferies Financial Group upgraded shares of Tenaris from a “hold” rating to a “buy” rating and increased their price objective for the company from $35.00 to $47.00 in a report on Monday, December 9th. Finally, Stifel Nicolaus dropped their target price on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, October 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.75.

Tenaris Trading Up 0.5 %

Shares of NYSE TS opened at $37.76 on Friday. Tenaris has a 1-year low of $27.24 and a 1-year high of $40.72. The company has a 50-day moving average of $37.04 and a two-hundred day moving average of $32.61. The company has a market cap of $21.95 billion, a PE ratio of 8.23 and a beta of 1.45.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its stake in shares of Tenaris by 187.4% in the third quarter. Wellington Management Group LLP now owns 2,546,184 shares of the industrial products company’s stock valued at $80,943,000 after buying an additional 1,660,300 shares in the last quarter. Renaissance Technologies LLC raised its stake in Tenaris by 46.2% in the 2nd quarter. Renaissance Technologies LLC now owns 2,592,044 shares of the industrial products company’s stock valued at $79,109,000 after acquiring an additional 819,500 shares during the period. Holocene Advisors LP bought a new position in shares of Tenaris in the third quarter valued at about $21,454,000. FMR LLC raised its holdings in Tenaris by 21.3% in the 3rd quarter. FMR LLC now owns 3,503,644 shares of the industrial products company’s stock valued at $111,381,000 after acquiring an additional 614,884 shares during the period. Finally, Mediolanum International Funds Ltd acquired a new stake in Tenaris during the third quarter worth approximately $17,129,000. Institutional investors and hedge funds 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.