Piper Sandler Begins Coverage on Tenaris (NYSE:TS)

Analysts at Piper Sandler started coverage on shares of Tenaris (NYSE:TS) in a report released on Thursday. The firm set an “overweight” rating and a $48.00 price target on the industrial products company’s stock. Piper Sandler’s target price suggests a potential upside of 28.86% from the company’s current price.

A number of other equities analysts have also recently commented on the company. Jefferies Financial Group raised Tenaris from a “hold” rating to a “buy” rating and raised their target price for the stock from $35.00 to $47.00 in a report on Monday, December 9th. StockNews.com raised Tenaris from a “hold” rating to a “buy” rating in a research note on Wednesday, November 27th. Finally, Stifel Nicolaus cut their price objective on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.75.

Tenaris Trading Up 0.8 %

TS traded up $0.28 during trading on Thursday, hitting $37.25. 769,365 shares of the company’s stock traded hands, compared to its average volume of 1,911,703. Tenaris has a 12-month low of $27.24 and a 12-month high of $40.72. The company’s 50 day simple moving average is $35.66 and its two-hundred day simple moving average is $32.13. The stock has a market capitalization of $21.66 billion, a price-to-earnings ratio of 8.12 and a beta of 1.46.

Hedge Funds Weigh In On Tenaris

Institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC purchased a new stake in shares of Tenaris during the second quarter valued at about $32,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Tenaris in the 3rd quarter worth approximately $33,000. Covestor Ltd purchased a new stake in Tenaris during the 3rd quarter worth approximately $40,000. Wilmington Savings Fund Society FSB acquired a new position in Tenaris during the 3rd quarter valued at approximately $67,000. Finally, Barclays PLC raised its holdings in shares of Tenaris by 30,000.0% in the third quarter. Barclays PLC now owns 6,020 shares of the industrial products company’s stock worth $192,000 after buying an additional 6,000 shares during the last quarter. 10.45% of the stock is owned by hedge funds and other institutional investors.

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.