Tenaris (NYSE:TS) Downgraded to Hold Rating by StockNews.com

Tenaris (NYSE:TS) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other equities analysts have also recently issued reports on TS. Barclays boosted their price target on Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Bank of America cut Tenaris from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 29th. Stifel Nicolaus upped their price target on Tenaris from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Piper Sandler upped their price target on Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Finally, Kepler Capital Markets cut Tenaris from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $46.00.

Tenaris Price Performance

Shares of NYSE TS opened at $39.36 on Friday. The company has a market capitalization of $22.88 billion, a price-to-earnings ratio of 10.90 and a beta of 1.43. The business has a 50-day moving average of $38.27 and a two-hundred day moving average of $35.80. Tenaris has a 1 year low of $27.24 and a 1 year high of $40.73.

Tenaris (NYSE:TS) last posted its earnings results on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.31. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.71 billion. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. As a group, equities research analysts expect that Tenaris will post 3.14 earnings per share for the current year.

Institutional Trading of Tenaris

A number of hedge funds and other institutional investors have recently modified their holdings of TS. Exencial Wealth Advisors LLC increased its holdings in Tenaris by 0.5% in the fourth quarter. Exencial Wealth Advisors LLC now owns 50,404 shares of the industrial products company’s stock valued at $1,905,000 after buying an additional 270 shares during the last quarter. Silvercrest Asset Management Group LLC increased its holdings in Tenaris by 0.4% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 97,796 shares of the industrial products company’s stock valued at $3,696,000 after buying an additional 386 shares during the last quarter. Signaturefd LLC boosted its stake in Tenaris by 2.3% in the fourth quarter. Signaturefd LLC now owns 18,647 shares of the industrial products company’s stock valued at $705,000 after acquiring an additional 418 shares during the period. Covestor Ltd boosted its stake in Tenaris by 37.2% in the fourth quarter. Covestor Ltd now owns 1,729 shares of the industrial products company’s stock valued at $65,000 after acquiring an additional 469 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in Tenaris by 78.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 478 shares during the period. 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.