Tenaris (NYSE:TS) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Tenaris (NYSE:TS) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday,Zacks reports.

Several other analysts also recently weighed in on TS. Bank of America boosted their price target on shares of Tenaris from $66.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, October 5th. Barclays raised their price objective on Tenaris from $80.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, November 6th. Morgan Stanley lifted their price objective on Tenaris from $62.00 to $65.00 and gave the stock an “equal weight” rating in a report on Monday. Piper Sandler boosted their target price on Tenaris from $60.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Weiss Ratings raised Tenaris from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Tenaris has an average rating of “Moderate Buy” and a consensus target price of $63.84.

Tenaris Stock Performance

TS stock opened at $61.21 on Tuesday. The company has a market capitalization of $30.90 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 1.41 and a beta of 0.89. Tenaris has a one year low of $37.69 and a one year high of $64.60. The company’s 50 day moving average price is $57.40 and its two-hundred day moving average price is $56.58.

Tenaris (NYSE:TS) last announced its quarterly earnings data on Wednesday, November 4th. The industrial products company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.20. Tenaris had a net margin of 16.24% and a return on equity of 11.53%. The firm had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.03 billion. During the same period in the previous year, the business posted $0.85 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. On average, research analysts predict that Tenaris will post 4.16 EPS for the current year.

Institutional Investors Weigh In On Tenaris

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TS. Lido Advisors LLC boosted its position in Tenaris by 1.6% during the 3rd quarter. Lido Advisors LLC now owns 11,512 shares of the industrial products company’s stock valued at $635,000 after buying an additional 184 shares during the period. Lazard Asset Management LLC grew its holdings in Tenaris by 0.5% in the 1st quarter. Lazard Asset Management LLC now owns 58,252 shares of the industrial products company’s stock worth $3,389,000 after acquiring an additional 284 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Tenaris by 6.3% in the second quarter. Versant Capital Management Inc now owns 5,580 shares of the industrial products company’s stock valued at $310,000 after acquiring an additional 332 shares during the period. Hennion & Walsh Asset Management Inc. increased its position in shares of Tenaris by 1.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 24,383 shares of the industrial products company’s stock valued at $1,353,000 after acquiring an additional 341 shares during the period. Finally, Allworth Financial LP increased its position in shares of Tenaris by 116.0% in the second quarter. Allworth Financial LP now owns 661 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 355 shares during the period. 10.45% of the stock is currently owned by institutional investors.

About Tenaris

Tenaris S.A. is a global manufacturer and supplier of steel pipe products and related services, with a primary focus on the energy industry. Its products include casing and tubing used in oil and gas wells, line pipe for transporting fluids, and other tubular products for industrial applications. The company also provides services such as pipe processing, engineering support, logistics, and assistance at drilling sites. Tenaris serves customers across a broad range of international markets, including the Americas, Europe, the Middle East, Africa, and Asia.