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 to investors on Saturday.

A number of other research firms have also issued reports on TS. Barclays reiterated an “overweight” rating and issued a $56.00 target price on shares of Tenaris in a report on Monday, February 23rd. Oddo Bhf upgraded Tenaris to an “outperform” rating in a research note on Thursday, February 5th. The Goldman Sachs Group reissued a “neutral” rating and set a $49.70 price objective on shares of Tenaris in a research report on Monday, February 23rd. Piper Sandler restated a “neutral” rating on shares of Tenaris in a research note on Thursday, December 18th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Tenaris in a research note on Friday, March 27th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $50.45.

Tenaris Stock Down 0.1%

Shares of TS opened at $58.03 on Friday. The company has a market cap of $31.10 billion, a P/E ratio of 15.90, a PEG ratio of 2.04 and a beta of 0.81. Tenaris has a fifty-two week low of $30.06 and a fifty-two week high of $59.38. The firm’s 50 day moving average price is $52.11 and its 200 day moving average price is $43.35.

Tenaris (NYSE:TS) last issued its quarterly earnings results on Sunday, February 15th. The industrial products company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.76 by $0.11. Tenaris had a net margin of 16.13% and a return on equity of 11.32%. The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter last year, the company posted $0.94 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. Research analysts forecast that Tenaris will post 3.14 earnings per share for the current year.

Institutional Trading of Tenaris

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. boosted its position in shares of Tenaris by 378.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,802 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 1,425 shares during the period. Fearnley Asset Management AS acquired a new position in Tenaris during the fourth quarter worth approximately $1,846,000. Invesco Ltd. lifted its stake in Tenaris by 514.6% in the fourth quarter. Invesco Ltd. now owns 546,204 shares of the industrial products company’s stock valued at $21,002,000 after buying an additional 457,332 shares during the last quarter. XTX Topco Ltd lifted its stake in Tenaris by 735.7% in the fourth quarter. XTX Topco Ltd now owns 101,844 shares of the industrial products company’s stock valued at $3,916,000 after buying an additional 89,657 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Tenaris by 25.6% in the fourth quarter. Wellington Management Group LLP now owns 2,682,137 shares of the industrial products company’s stock valued at $103,128,000 after acquiring an additional 546,144 shares during the period. Institutional investors and hedge funds 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.