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

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

A number of other analysts have also recently weighed in on the company. Stifel Nicolaus lowered their price objective on Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Piper Sandler cut their price objective on shares of Tenaris from $43.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Tenaris presently has a consensus rating of “Hold” and an average target price of $38.67.

Tenaris Price Performance

Shares of TS stock opened at $36.97 on Friday. The stock’s 50-day moving average is $31.35 and its 200 day moving average is $31.47. Tenaris has a 1-year low of $27.24 and a 1-year high of $40.72. The company has a market cap of $21.49 billion, a P/E ratio of 8.05 and a beta of 1.43.

Tenaris (NYSE:TS) last released its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.18. Tenaris had a net margin of 20.23% and a return on equity of 15.42%. The business had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.76 billion. On average, analysts anticipate that Tenaris will post 3.21 EPS for the current year.

Hedge Funds Weigh In On Tenaris

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC purchased a new position in Tenaris during the second quarter valued at approximately $32,000. Covestor Ltd acquired a new position in shares of Tenaris in the 3rd quarter valued at $40,000. Headlands Technologies LLC boosted its holdings in Tenaris by 1,486.0% during the first quarter. Headlands Technologies LLC now owns 1,586 shares of the industrial products company’s stock worth $62,000 after buying an additional 1,486 shares in the last quarter. Blue Trust Inc. grew its position in Tenaris by 79.0% during the second quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company’s stock valued at $110,000 after buying an additional 1,583 shares during the period. Finally, West Family Investments Inc. purchased a new position in Tenaris in the third quarter valued at $200,000. 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.