Tenaris (NYSE:TS) Upgraded at Zacks Research

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

TS has been the subject of a number of other reports. Morgan Stanley boosted their price target on shares of Tenaris from $62.00 to $65.00 and gave the company an “equal weight” rating in a research report on Monday. Bank of America increased their price objective on Tenaris from $66.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, October 5th. Weiss Ratings raised Tenaris from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday. Barclays boosted their target price on Tenaris from $80.00 to $88.00 and gave the stock an “overweight” rating in a research report on Friday, November 6th. Finally, Kepler Capital Markets upgraded Tenaris from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Tenaris currently has an average rating of “Moderate Buy” and an average price target of $63.84.

Tenaris Trading Up 1.6%

Shares of NYSE:TS opened at $61.21 on Tuesday. The company has a 50 day moving average of $57.40 and a 200 day moving average of $56.58. The stock has a market cap of $30.90 billion, a P/E ratio of 15.45, a P/E/G ratio of 1.41 and a beta of 0.89. Tenaris has a 12 month low of $37.69 and a 12 month high of $64.60.

Tenaris (NYSE:TS) last posted its earnings results 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 net margin of 16.24% and a return on equity of 11.53%. The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.03 billion. During the same period in the prior year, the company posted $0.85 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities analysts forecast that Tenaris will post 4.16 earnings per share for the current fiscal year.

Institutional Trading of Tenaris

Hedge funds and other institutional investors have recently bought and sold shares of the company. Polaris Financial Partners purchased a new stake in Tenaris in the third quarter worth approximately $26,000. Allworth Financial LP raised its stake in shares of Tenaris by 116.0% during the second quarter. Allworth Financial LP now owns 661 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 355 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Tenaris during the second quarter worth approximately $48,000. GAMMA Investing LLC raised its stake in shares of Tenaris by 24.4% during the second quarter. GAMMA Investing LLC now owns 2,713 shares of the industrial products company’s stock worth $151,000 after acquiring an additional 533 shares in the last quarter. Finally, Keybank National Association OH bought a new stake in shares of Tenaris in the 3rd quarter worth approximately $215,000. Hedge funds and other institutional investors own 10.45% of the company’s stock.

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.