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

Tenaris (NYSE:TS) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

Several other equities research analysts have also recently weighed in on the stock. Wall Street Zen cut shares of Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Bank of America boosted their target price on shares of Tenaris from $66.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, October 5th. Barclays boosted their target price on shares of Tenaris from $80.00 to $88.00 and gave the company an “overweight” rating in a research report on Friday, November 6th. Weiss Ratings raised shares of Tenaris from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. Finally, Kepler Capital Markets upgraded shares of Tenaris from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $63.84.

Tenaris Stock Performance

Tenaris stock opened at $61.21 on Tuesday. The stock has a 50-day simple moving average of $57.40 and a 200 day simple moving average of $56.58. The stock has a market capitalization of $30.90 billion, a P/E ratio of 15.70, a PEG ratio of 1.41 and a beta of 0.89. Tenaris has a 52 week low of $37.69 and a 52 week high of $64.60.

Tenaris (NYSE:TS) last released its quarterly earnings results on Wednesday, November 4th. The industrial products company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.20. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.03 billion. Tenaris had a net margin of 16.24% and a return on equity of 11.53%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 EPS. Research analysts forecast that Tenaris will post 4.16 earnings per share for the current year.

Institutional Trading of Tenaris

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its holdings in Tenaris by 7.9% during the first quarter. Renaissance Technologies LLC now owns 3,199,744 shares of the industrial products company’s stock worth $186,161,000 after buying an additional 235,400 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Tenaris by 2.2% in the 2nd quarter. Wellington Management Group LLP now owns 2,458,033 shares of the industrial products company’s stock worth $136,396,000 after buying an additional 52,999 shares during the last quarter. Kiltearn Partners LLP bought a new position in shares of Tenaris in the second quarter valued at approximately $9,642,000. Quantinno Capital Management LP grew its holdings in shares of Tenaris by 20.9% in the first quarter. Quantinno Capital Management LP now owns 146,347 shares of the industrial products company’s stock valued at $8,514,000 after acquiring an additional 25,271 shares in the last quarter. Finally, Ethic Inc. increased its position in shares of Tenaris by 40.5% during the third quarter. Ethic Inc. now owns 139,055 shares of the industrial products company’s stock valued at $7,673,000 after acquiring an additional 40,067 shares during the last quarter. 10.45% of the stock is 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.