Tenaris (NYSE:TS) Stock Rating Upgraded by StockNews.com

Tenaris (NYSE:TS) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Separately, Stifel Nicolaus decreased their price objective on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Tenaris has an average rating of “Hold” and a consensus target price of $38.67.

Tenaris Stock Down 0.2 %

NYSE:TS opened at $37.60 on Wednesday. Tenaris has a fifty-two week low of $27.24 and a fifty-two week high of $40.72. The firm’s 50 day moving average is $33.37 and its two-hundred day moving average is $31.63. The company has a market cap of $21.86 billion, a P/E ratio of 8.19 and a beta of 1.43.

Institutional Trading of Tenaris

A number of hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Tenaris by 36.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,420 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 377 shares in the last quarter. Evergreen Capital Management LLC raised its position in shares of Tenaris by 3.7% in the 2nd quarter. Evergreen Capital Management LLC now owns 19,932 shares of the industrial products company’s stock valued at $608,000 after purchasing an additional 710 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Tenaris by 4.7% during the 2nd quarter. Signaturefd LLC now owns 16,338 shares of the industrial products company’s stock valued at $499,000 after buying an additional 732 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Tenaris during the third quarter worth approximately $33,000. Finally, Covestor Ltd bought a new stake in shares of Tenaris in the third quarter worth $40,000. Hedge funds and other institutional investors own 10.45% of the company’s stock.

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.