Tenaris (NYSE:TS) Upgraded at Wall Street Zen

Tenaris (NYSE:TS) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

A number of other brokerages have also weighed in on TS. BNP Paribas lowered Tenaris from an “outperform” rating to a “hold” rating in a research report on Friday, October 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tenaris in a report on Monday, December 29th. Cowen reissued a “buy” rating on shares of Tenaris in a research report on Wednesday, January 7th. The Goldman Sachs Group initiated coverage on shares of Tenaris in a research report on Monday, December 15th. They issued a “neutral” rating and a $43.60 target price for the company. Finally, Stifel Nicolaus boosted their price target on shares of Tenaris from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $42.32.

Tenaris Stock Up 0.7%

Shares of NYSE TS opened at $41.77 on Friday. The company has a market cap of $24.28 billion, a price-to-earnings ratio of 11.23 and a beta of 0.96. Tenaris has a 52 week low of $30.06 and a 52 week high of $42.69. The firm’s fifty day moving average is $40.01 and its 200 day moving average is $37.71.

Tenaris (NYSE:TS) last posted its earnings results on Thursday, October 30th. The industrial products company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.10. Tenaris had a net margin of 16.91% and a return on equity of 11.72%. The company had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same period in the prior year, the business posted $0.81 earnings per share. Tenaris’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts anticipate that Tenaris will post 3.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TS. Osaic Holdings Inc. raised its position in shares of Tenaris by 1,994.8% in the 2nd quarter. Osaic Holdings Inc. now owns 36,722 shares of the industrial products company’s stock worth $1,434,000 after purchasing an additional 34,969 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Tenaris during the 2nd quarter valued at about $1,122,000. Jump Financial LLC purchased a new position in Tenaris in the second quarter worth about $9,380,000. New York State Common Retirement Fund purchased a new position in Tenaris in the second quarter worth about $1,539,000. Finally, Bayforest Capital Ltd bought a new position in shares of Tenaris in the second quarter worth approximately $605,000. Institutional investors own 10.45% of the company’s stock.

About Tenaris

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value‑added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.