Tenaris (TS) Shares Gap Up to $32.99
Tenaris SA (NYSE:TS) shares gapped up prior to trading on Tuesday . The stock had previously closed at $31.52, but opened at $32.99. Tenaris shares last traded at $34.59, with a volume of 2865300 shares traded.
Several research analysts have recently commented on the company. Exane BNP Paribas raised Tenaris from an “underperform” rating to a “neutral” rating in a report on Thursday, June 21st. ValuEngine raised Tenaris from a “hold” rating to a “buy” rating in a report on Wednesday, June 27th. Zacks Investment Research downgraded Tenaris from a “strong-buy” rating to a “hold” rating and set a $41.00 price objective on the stock. in a report on Friday, June 29th. Guggenheim reaffirmed a “buy” rating and set a $48.00 price objective on shares of Tenaris in a report on Friday, August 3rd. Finally, Piper Jaffray Companies set a $44.00 price objective on Tenaris and gave the stock a “buy” rating in a report on Thursday, August 2nd. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $42.04.
The firm has a market capitalization of $19.30 billion, a PE ratio of 45.05, a price-to-earnings-growth ratio of 0.65 and a beta of 0.58.
Institutional investors have recently modified their holdings of the business. Greenleaf Trust bought a new stake in shares of Tenaris during the 2nd quarter valued at $240,000. Point72 Asset Management L.P. raised its position in shares of Tenaris by 189.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 418,400 shares of the industrial products company’s stock valued at $15,226,000 after acquiring an additional 273,600 shares during the last quarter. Egerton Capital UK LLP bought a new stake in shares of Tenaris during the 2nd quarter valued at $247,843,000. AGF Investments Inc. raised its position in shares of Tenaris by 1.0% during the 2nd quarter. AGF Investments Inc. now owns 510,919 shares of the industrial products company’s stock valued at $18,592,000 after acquiring an additional 5,301 shares during the last quarter. Finally, Royal Bank of Canada raised its position in shares of Tenaris by 13.4% during the 1st quarter. Royal Bank of Canada now owns 30,755 shares of the industrial products company’s stock valued at $1,067,000 after acquiring an additional 3,624 shares during the last quarter. Institutional investors own 13.96% of the company’s stock.
Tenaris Company Profile (NYSE:TS)
Tenaris SA 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 products for oil and gas drilling operations, such as casing and tubing products, premium connections, drill pipes, coiled tubing, hot-rolled and cold-drawn seamless tubes, tubular and non-tubular accessories, and devices.
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