Tenaris (NYSE:TS) Lowered to “Hold” Rating by Wall Street Zen

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

Several other equities analysts also recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Tenaris in a research report on Monday, December 29th. Stifel Nicolaus raised their price objective on shares of Tenaris from $37.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Piper Sandler reiterated a “neutral” rating on shares of Tenaris in a research report on Thursday, December 18th. Oddo Bhf upgraded shares of Tenaris to an “outperform” rating in a research report on Thursday, February 5th. Finally, Morgan Stanley set a $38.00 price target on shares of Tenaris and gave the company an “underweight” rating in a research note on Wednesday, January 21st. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $42.72.

Tenaris Stock Performance

NYSE TS opened at $48.76 on Friday. The firm’s fifty day moving average price is $42.03 and its two-hundred day moving average price is $38.75. The stock has a market cap of $28.35 billion, a PE ratio of 13.11, a PEG ratio of 12.47 and a beta of 0.95. Tenaris has a fifty-two week low of $30.06 and a fifty-two week high of $48.83.

Hedge Funds Weigh In On Tenaris

A number of hedge funds have recently bought and sold shares of the company. Blue Trust Inc. lifted its holdings in Tenaris by 48.8% in the second quarter. Blue Trust Inc. now owns 1,088 shares of the industrial products company’s stock valued at $41,000 after buying an additional 357 shares during the period. Advisory Services Network LLC bought a new position in shares of Tenaris in the 3rd quarter worth about $47,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Tenaris in the 4th quarter valued at about $48,000. Raymond James Financial Inc. bought a new stake in shares of Tenaris during the 2nd quarter valued at about $49,000. Finally, Farther Finance Advisors LLC boosted its position in shares of 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 purchasing an additional 725 shares in the last quarter. Institutional investors own 10.45% of the company’s stock.

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.