Stifel Nicolaus Forecasts Strong Price Appreciation for Tenaris (NYSE:TS) Stock

Tenaris (NYSE:TS) had its target price raised by Stifel Nicolaus from $40.00 to $43.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 14.01% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Jefferies Financial Group raised shares of Tenaris from a “hold” rating to a “buy” rating and boosted their price objective for the company from $35.00 to $47.00 in a research report on Monday, December 9th. StockNews.com raised shares of Tenaris from a “hold” rating to a “buy” rating in a research report on Thursday. Piper Sandler initiated coverage on Tenaris in a report on Thursday, December 19th. They issued an “overweight” rating and a $48.00 price target for the company. Bank of America downgraded shares of Tenaris from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 29th. Finally, Kepler Capital Markets lowered Tenaris from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Tenaris presently has an average rating of “Hold” and an average price target of $44.50.

Tenaris Stock Performance

NYSE TS opened at $37.72 on Friday. The business’s fifty day moving average is $38.31 and its 200 day moving average is $34.48. The company has a market capitalization of $21.93 billion, a PE ratio of 10.45 and a beta of 1.44. Tenaris has a fifty-two week low of $27.24 and a fifty-two week high of $40.72.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.63 by $0.31. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.71 billion. On average, sell-side analysts forecast that Tenaris will post 3.14 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Creative Planning lifted its position in Tenaris by 8.2% in the third quarter. Creative Planning now owns 31,176 shares of the industrial products company’s stock valued at $991,000 after purchasing an additional 2,352 shares during the period. Blue Trust Inc. grew its stake in Tenaris by 95.9% in the 3rd quarter. Blue Trust Inc. now owns 7,028 shares of the industrial products company’s stock valued at $214,000 after acquiring an additional 3,440 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Tenaris by 36.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,420 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 377 shares in the last quarter. Signaturefd LLC increased its position in Tenaris by 11.6% during the third quarter. Signaturefd LLC now owns 18,229 shares of the industrial products company’s stock worth $580,000 after buying an additional 1,891 shares in the last quarter. Finally, Greenleaf Trust purchased a new stake in Tenaris during the 3rd quarter worth about $304,000. 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.