Tenaris S.A. (NYSE:TS) Given “Hold” Rating at Cowen and Company
Tenaris S.A. (NYSE:TS)‘s stock had its “hold” rating reissued by equities research analysts at Cowen and Company in a research report issued to clients and investors on Tuesday, July 11th. They presently have a $30.00 target price on the industrial products company’s stock. Cowen and Company’s price objective would indicate a potential upside of 5.93% from the company’s previous close.
Other research analysts have also recently issued research reports about the company. Loop Capital upgraded Tenaris from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research report on Wednesday, May 17th. Scotiabank restated a “buy” rating and issued a $40.00 price target on shares of Tenaris in a research report on Monday, May 1st. BidaskClub upgraded Tenaris from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Zacks Investment Research upgraded Tenaris from a “strong sell” rating to a “hold” rating in a research report on Saturday, April 29th. Finally, Simmons raised their price target on Tenaris from $40.50 to $41.00 and gave the company an “overweight” rating in a research report on Tuesday, April 4th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $35.35.
Shares of Tenaris (NYSE:TS) traded down 0.74% during midday trading on Tuesday, reaching $28.32. 1,961,232 shares of the company’s stock traded hands. The company has a market capitalization of $16.72 billion, a PE ratio of 69.07 and a beta of 0.63. Tenaris has a 52 week low of $25.19 and a 52 week high of $37.21. The stock’s 50 day moving average is $31.29 and its 200-day moving average is $32.42.
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Several hedge funds have recently bought and sold shares of TS. Van ECK Associates Corp raised its stake in Tenaris by 0.4% in the first quarter. Van ECK Associates Corp now owns 3,584,733 shares of the industrial products company’s stock worth $122,383,000 after buying an additional 15,672 shares during the last quarter. Ruffer LLP raised its stake in Tenaris by 20.4% in the first quarter. Ruffer LLP now owns 3,137,174 shares of the industrial products company’s stock worth $104,916,000 after buying an additional 532,168 shares during the last quarter. Wellington Management Group LLP raised its stake in Tenaris by 6.1% in the first quarter. Wellington Management Group LLP now owns 2,717,620 shares of the industrial products company’s stock worth $92,779,000 after buying an additional 155,257 shares during the last quarter. Wells Fargo & Company MN raised its stake in Tenaris by 95.8% in the first quarter. Wells Fargo & Company MN now owns 1,548,753 shares of the industrial products company’s stock worth $52,875,000 after buying an additional 757,748 shares during the last quarter. Finally, MARSHALL WACE ASIA Ltd bought a new stake in Tenaris during the first quarter worth approximately $47,489,000. 18.67% of the stock is currently owned by institutional investors and hedge funds.
Tenaris SA is a holding company, which is a steel producer with production facilities in Mexico, Argentina, Colombia, United States and Guatemala. The Company supplies round steel bars and flat steel products for its pipes business. It operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the oil and gas industry, principally oil country tubular goods (OCTG) used in drilling operations, and for other industrial applications with production processes that include in the transformation of steel into tubular products.
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