Tenaris S.A. (NYSE:TS) has received an average recommendation of “Hold” from the fourteen research firms that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $22.75.
A number of research analysts have weighed in on TS shares. Zacks Investment Research upgraded shares of Tenaris from a “hold” rating to a “strong-buy” rating and set a $24.00 price objective on the stock in a research report on Friday, July 9th. Morgan Stanley upped their price target on shares of Tenaris from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Friday, July 9th. Finally, Barclays upped their price target on shares of Tenaris from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Thursday, August 26th.
Tenaris stock traded down $0.19 during mid-day trading on Thursday, reaching $18.90. 52,891 shares of the company’s stock traded hands, compared to its average volume of 1,937,689. The company has a market cap of $11.16 billion, a price-to-earnings ratio of 23.79 and a beta of 1.88. The stock has a 50 day moving average of $20.15 and a two-hundred day moving average of $21.68. The company has a quick ratio of 1.73, a current ratio of 3.20 and a debt-to-equity ratio of 0.02. Tenaris has a 12-month low of $8.86 and a 12-month high of $24.15.
Hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its position in shares of Tenaris by 618.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 297,378 shares of the industrial products company’s stock valued at $4,743,000 after buying an additional 256,009 shares during the last quarter. WealthShield Partners LLC purchased a new stake in shares of Tenaris during the second quarter valued at about $29,000. Clarius Group LLC purchased a new position in shares of Tenaris in the 2nd quarter valued at approximately $229,000. Cubist Systematic Strategies LLC raised its position in shares of Tenaris by 23.7% in the 1st quarter. Cubist Systematic Strategies LLC now owns 58,183 shares of the industrial products company’s stock valued at $1,320,000 after purchasing an additional 11,157 shares during the last quarter. Finally, Redwood Investment Management LLC purchased a new position in shares of Tenaris in the 1st quarter valued at approximately $873,000. 9.33% of the stock is owned by institutional investors and hedge funds.
Tenaris Company Profile
Tenaris SA manufactures and supplies steel pipe products. The firm operates through the following business segments: Tubes and Other. The Tubes segment includes the production and sale of both seamless and welded steel tubular products and related services mainly for the oil and gas industry, particularly oil country tubular goods used in drilling operations, and for other industrial applications with production processes that consist in the transformation of steel into tubular products.
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