Tenaris (NYSE:TS) Raised to Buy at Wall Street Zen

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

Other research analysts also recently issued reports about the stock. Barclays reaffirmed an “overweight” rating and issued a $56.00 target price on shares of Tenaris in a research report on Monday, February 23rd. The Goldman Sachs Group restated a “neutral” rating and issued a $49.70 price objective on shares of Tenaris in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tenaris in a report on Monday, December 29th. TD Cowen boosted their target price on Tenaris from $48.00 to $59.00 and gave the company a “buy” rating in a report on Friday, February 20th. Finally, Morgan Stanley raised their price target on Tenaris from $38.00 to $40.00 and gave the stock an “underweight” rating in a research note on Monday, February 23rd. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $50.45.

Tenaris Stock Down 0.2%

Shares of TS opened at $52.57 on Friday. The stock has a 50 day moving average price of $46.04 and a 200 day moving average price of $40.59. The company has a market capitalization of $30.56 billion, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 1.87 and a beta of 0.87. Tenaris has a 52-week low of $30.06 and a 52-week high of $55.02.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Thursday, February 19th. The industrial products company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.76 by $0.11. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $2.95 billion. Tenaris had a net margin of 16.13% and a return on equity of 11.32%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.94 earnings per share. On average, equities analysts anticipate that Tenaris will post 3.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Tenaris

Institutional investors and hedge funds have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Tenaris during the fourth quarter worth about $48,000. Raymond James Financial Inc. acquired a new position in Tenaris in the 2nd quarter valued at about $49,000. Advisory Services Network LLC acquired a new position in Tenaris in the 3rd quarter valued at about $47,000. Farther Finance Advisors LLC raised its stake in Tenaris by 100.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,446 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 725 shares during the last quarter. Finally, Global Retirement Partners LLC raised its stake in Tenaris by 1,066.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,505 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 1,376 shares during the last quarter. 10.45% of the stock is owned by hedge funds and other institutional investors.

Tenaris Company Profile

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.