Tenaris (NYSE:TS) Rating Increased to Buy at StockNews.com

Tenaris (NYSE:TS) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

A number of other equities research analysts have also recently commented on TS. Piper Sandler reduced their target price on shares of Tenaris from $43.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Stifel Nicolaus decreased their target price on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Tenaris has an average rating of “Hold” and an average price target of $38.67.

Tenaris Stock Performance

NYSE:TS opened at $36.97 on Friday. The stock has a market capitalization of $21.49 billion, a PE ratio of 8.05 and a beta of 1.43. Tenaris has a fifty-two week low of $27.24 and a fifty-two week high of $40.72. The company has a fifty day moving average of $31.35 and a two-hundred day moving average of $31.47.

Tenaris (NYSE:TS) last issued its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.18. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.76 billion. Tenaris had a net margin of 20.23% and a return on equity of 15.42%. Research analysts forecast that Tenaris will post 3.21 earnings per share for the current year.

Hedge Funds Weigh In On Tenaris

Institutional investors and hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Tenaris during the 2nd quarter worth approximately $32,000. Covestor Ltd acquired a new stake in Tenaris during the third quarter worth $40,000. Headlands Technologies LLC increased its stake in Tenaris by 1,486.0% during the first quarter. Headlands Technologies LLC now owns 1,586 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 1,486 shares during the last quarter. Blue Trust Inc. raised its position in Tenaris by 79.0% in the second quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company’s stock valued at $110,000 after purchasing an additional 1,583 shares during the period. Finally, West Family Investments Inc. acquired a new position in shares of Tenaris in the 3rd quarter valued at $200,000. 10.45% of the stock is currently owned by institutional investors and hedge funds.

Tenaris Company Profile

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.