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

Tenaris (NYSE:TS) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

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

Tenaris Trading Down 2.3 %

NYSE TS opened at $37.72 on Thursday. Tenaris has a 1-year low of $27.24 and a 1-year high of $40.72. The company has a 50 day moving average of $38.33 and a 200-day moving average of $34.41. The firm has a market cap of $21.93 billion, a price-to-earnings ratio of 10.45 and a beta of 1.44.

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

Institutional Trading of Tenaris

A number of institutional investors have recently bought and sold shares of TS. CSS LLC IL boosted its position in shares of Tenaris by 33.4% in the 4th quarter. CSS LLC IL now owns 38,680 shares of the industrial products company’s stock worth $1,462,000 after purchasing an additional 9,680 shares during the last quarter. Vident Advisory LLC lifted its stake in Tenaris by 11.0% in the fourth quarter. Vident Advisory LLC now owns 12,713 shares of the industrial products company’s stock valued at $480,000 after buying an additional 1,259 shares during the period. Thornburg Investment Management Inc. bought a new position in Tenaris during the fourth quarter worth about $796,000. Silvercrest Asset Management Group LLC grew its position in shares of Tenaris by 0.4% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 97,796 shares of the industrial products company’s stock worth $3,696,000 after buying an additional 386 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Tenaris by 106.7% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,150 shares of the industrial products company’s stock valued at $81,000 after acquiring an additional 1,110 shares during the last quarter. Institutional investors and hedge funds own 10.45% of the company’s stock.

About Tenaris

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.