Tenaris (NYSE:TS) Shares Gap Down to $27.24

Tenaris S.A. (NYSE:TSGet Rating) shares gapped down prior to trading on Monday . The stock had previously closed at $27.24, but opened at $26.14. Tenaris shares last traded at $26.91, with a volume of 29,111 shares changing hands.

Analysts Set New Price Targets

Several brokerages recently commented on TS. Jefferies Financial Group raised Tenaris from a “hold” rating to a “buy” rating and boosted their price target for the company from $35.70 to $46.00 in a research note on Thursday, July 7th. Morgan Stanley lowered their price target on Tenaris from $40.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, July 13th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $32.64.

Tenaris Stock Down 1.8 %

The stock has a market cap of $15.87 billion, a P/E ratio of 8.62, a PEG ratio of 0.25 and a beta of 1.52. The business has a 50-day simple moving average of $26.79 and a 200-day simple moving average of $28.87.

Institutional Investors Weigh In On Tenaris

A number of large investors have recently added to or reduced their stakes in TS. Pinebridge Investments L.P. acquired a new position in shares of Tenaris during the first quarter worth approximately $827,000. Pendal Group Ltd acquired a new position in shares of Tenaris during the first quarter worth approximately $351,823,000. Tcwp LLC acquired a new position in shares of Tenaris during the first quarter worth approximately $36,000. Wrapmanager Inc. lifted its holdings in shares of Tenaris by 26.6% during the first quarter. Wrapmanager Inc. now owns 13,029 shares of the industrial products company’s stock worth $392,000 after buying an additional 2,735 shares during the last quarter. Finally, Dorsey Wright & Associates lifted its holdings in shares of Tenaris by 0.6% during the first quarter. Dorsey Wright & Associates now owns 200,033 shares of the industrial products company’s stock worth $6,015,000 after buying an additional 1,123 shares during the last quarter. Institutional investors own 12.28% of the company’s stock.

About Tenaris

(Get Rating)

Tenaris SA, together with its subsidiaries, produces and sells seamless and welded steel tubular products; and provides related services for the oil and gas industry, and other industrial applications. The company offers steel casings, tubing products, mechanical and structural pipes, cold-drawn pipes, and premium joints and couplings; coiled tubing products for oil and gas drilling and workovers, and subsea pipelines; and umbilical tubing products; and tubular accessories.

Further Reading

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