Piper Sandler Trims Tenaris (NYSE:TS) Target Price to $43.00

Tenaris (NYSE:TS) had its price objective reduced by equities research analysts at Piper Sandler from $49.00 to $43.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. Piper Sandler’s price target points to a potential upside of 26.04% from the stock’s current price.

Several other research analysts have also weighed in on the company. Morgan Stanley lowered Tenaris from an “overweight” rating to an “underweight” rating and set a $40.00 target price on the stock. in a research report on Thursday, April 18th. Bank of America initiated coverage on Tenaris in a report on Tuesday, January 16th. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Tenaris currently has an average rating of “Hold” and a consensus target price of $41.60.

Tenaris Price Performance

Shares of TS opened at $34.12 on Monday. Tenaris has a 12-month low of $24.69 and a 12-month high of $40.72. The stock has a market capitalization of $20.14 billion, a P/E ratio of 5.69, a P/E/G ratio of 2.59 and a beta of 1.51. The firm’s 50 day moving average is $37.69 and its 200-day moving average is $34.91.

Tenaris (NYSE:TS) last announced its earnings results on Wednesday, February 21st. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.89. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.08 billion. Tenaris had a net margin of 24.89% and a return on equity of 21.11%. As a group, equities research analysts forecast that Tenaris will post 3.91 EPS for the current fiscal year.

Institutional Trading of Tenaris

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sei Investments Co. lifted its holdings in Tenaris by 133.2% during the first quarter. Sei Investments Co. now owns 63,694 shares of the industrial products company’s stock worth $2,501,000 after acquiring an additional 36,380 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in shares of Tenaris during the 1st quarter valued at about $293,000. Capstone Investment Advisors LLC acquired a new position in shares of Tenaris in the 1st quarter valued at approximately $257,000. BNP Paribas Financial Markets increased its stake in Tenaris by 30.8% during the 1st quarter. BNP Paribas Financial Markets now owns 103,580 shares of the industrial products company’s stock worth $4,068,000 after purchasing an additional 24,372 shares in the last quarter. Finally, Commonwealth Equity Services LLC acquired a new stake in Tenaris during the 1st quarter worth approximately $536,000. 10.45% of the stock is owned by 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.