Tenaris (NYSE:TS) Stock Lifted to “Buy” by Wall Street Zen

Wall Street Zen upgraded shares of Tenaris (NYSE:TS) from a hold rating to a buy rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Several other research analysts also recently issued reports on TS. Piper Sandler lifted their price target on Tenaris from $60.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, November 9th. Stifel Nicolaus upped their target price on Tenaris from $57.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday. Weiss Ratings raised shares of Tenaris from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, November 9th. Bank of America upped their target price on Tenaris from $66.00 to $71.00 and gave the company a “buy” rating in a report on Monday, October 5th. Finally, Morgan Stanley increased their target price on shares of Tenaris from $62.00 to $65.00 and gave the company an “equal weight” rating in a research report on Monday, November 9th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Tenaris has a consensus rating of “Moderate Buy” and an average target price of $65.09.

Tenaris Stock Up 0.6%

Tenaris stock traded up $0.38 during mid-day trading on Friday, hitting $61.32. The company had a trading volume of 488,527 shares, compared to its average volume of 1,163,885. Tenaris has a 1 year low of $37.69 and a 1 year high of $64.60. The stock has a market cap of $30.96 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 1.43 and a beta of 0.89. The business has a fifty day moving average of $57.60 and a 200 day moving average of $56.75.

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

Institutional Investors Weigh In On Tenaris

Several hedge funds have recently modified their holdings of the business. Lido Advisors LLC lifted its holdings in Tenaris by 1.6% in the third 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 stake in shares of Tenaris by 0.5% in the first quarter. Lazard Asset Management LLC now owns 58,252 shares of the industrial products company’s stock valued at $3,389,000 after buying an additional 284 shares in the last quarter. Versant Capital Management Inc grew its holdings in Tenaris by 6.3% during the second quarter. Versant Capital Management Inc now owns 5,580 shares of the industrial products company’s stock worth $310,000 after purchasing an additional 332 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in Tenaris by 1.4% in the 2nd 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 lifted its holdings in Tenaris by 116.0% during the 2nd quarter. Allworth Financial LP now owns 661 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 355 shares during the last quarter. 10.45% of the stock is owned by institutional investors.

Tenaris Company Profile

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.