Tenaris (NYSE:TS) Upgraded by StockNews.com to “Buy” Rating

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

Other equities research analysts also recently issued reports about the company. Jefferies Financial Group upgraded Tenaris from a “hold” rating to a “buy” rating and boosted their price target for the company from $35.00 to $47.00 in a research note on Monday, December 9th. Stifel Nicolaus cut their target price on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Finally, Piper Sandler initiated coverage on shares of Tenaris in a research report on Thursday, December 19th. They issued an “overweight” rating and a $48.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.75.

Tenaris Price Performance

Shares of TS opened at $38.97 on Friday. The firm has a market capitalization of $22.66 billion, a P/E ratio of 8.49 and a beta of 1.45. Tenaris has a one year low of $27.24 and a one year high of $40.72. The business has a fifty day moving average of $37.90 and a 200 day moving average of $33.07.

Institutional Investors Weigh In On Tenaris

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of Tenaris by 21.3% in the third quarter. FMR LLC now owns 3,503,644 shares of the industrial products company’s stock worth $111,381,000 after purchasing an additional 614,884 shares during the period. Wellington Management Group LLP lifted its stake in shares of Tenaris by 187.4% during the 3rd quarter. Wellington Management Group LLP now owns 2,546,184 shares of the industrial products company’s stock valued at $80,943,000 after buying an additional 1,660,300 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in Tenaris by 102.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,050,552 shares of the industrial products company’s stock worth $33,397,000 after buying an additional 531,860 shares during the period. Holocene Advisors LP purchased a new stake in Tenaris in the 3rd quarter worth $21,454,000. Finally, Mediolanum International Funds Ltd bought a new stake in Tenaris during the third quarter valued at about $17,129,000. 10.45% of the stock is owned by hedge funds and other institutional investors.

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.