Tenaris (NYSE:TS) Price Target Cut to $43.00 by Analysts at Piper Sandler

Tenaris (NYSE:TS) had its price target reduced by analysts at Piper Sandler from $49.00 to $43.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. Piper Sandler’s price objective indicates a potential upside of 26.92% from the stock’s previous close.

Several other analysts also recently issued reports on TS. Bank of America started coverage on shares of Tenaris in a research note on Tuesday, January 16th. They issued a “neutral” rating for the company. Morgan Stanley downgraded shares of Tenaris from an “overweight” rating to an “underweight” rating and set a $40.00 price target for the company. in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $41.60.

Tenaris Stock Performance

Shares of Tenaris stock opened at $33.88 on Monday. Tenaris has a one year low of $24.69 and a one year high of $40.72. The stock’s fifty day moving average is $37.77 and its 200 day moving average is $34.89. The stock has a market cap of $20.00 billion, a P/E ratio of 5.65, a P/E/G ratio of 2.59 and a beta of 1.51.

Tenaris (NYSE:TS) last issued its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.89. The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.08 billion. Tenaris had a return on equity of 21.11% and a net margin of 24.89%. Analysts predict that Tenaris will post 3.91 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Balyasny Asset Management L.P. raised its holdings in Tenaris by 91.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,576,096 shares of the industrial products company’s stock valued at $89,545,000 after acquiring an additional 1,228,287 shares during the last quarter. TT International Asset Management LTD acquired a new stake in Tenaris in the 4th quarter valued at about $19,155,000. Kiltearn Partners LLP acquired a new stake in Tenaris in the 4th quarter valued at about $17,255,000. Wellington Management Group LLP raised its holdings in Tenaris by 101.5% in the 3rd quarter. Wellington Management Group LLP now owns 877,305 shares of the industrial products company’s stock valued at $27,723,000 after acquiring an additional 442,016 shares during the last quarter. Finally, Sourcerock Group LLC acquired a new stake in Tenaris in the 3rd quarter valued at about $10,368,000. 10.45% of the stock is owned by hedge funds and other institutional investors.

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.