Tenaris (NYSE:TS) was upgraded by investment analysts at Bank of America from an “underperform” rating to a “buy” rating in a research note issued to investors on Tuesday, The Fly reports.

A number of other equities analysts also recently issued reports on TS. BTIG Research started coverage on Tenaris in a research report on Thursday, June 14th. They set a “buy” rating and a $50.00 price target on the stock. ValuEngine downgraded Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday, June 16th. Exane BNP Paribas raised Tenaris from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 21st. BNP Paribas raised Tenaris from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 21st. Finally, Zacks Investment Research downgraded Tenaris from a “strong-buy” rating to a “hold” rating and set a $41.00 price target on the stock. in a research report on Friday, June 29th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $42.21.

TS stock opened at $32.99 on Tuesday. Tenaris has a twelve month low of $25.91 and a twelve month high of $40.64. The firm has a market capitalization of $19.30 billion, a price-to-earnings ratio of 42.84, a price-to-earnings-growth ratio of 0.65 and a beta of 0.58.

Tenaris (NYSE:TS) last released its earnings results on Wednesday, August 1st. The industrial products company reported $0.29 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.29. Tenaris had a return on equity of 5.74% and a net margin of 10.21%. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter last year, the firm posted $0.06 earnings per share. The business’s revenue was up 43.9% compared to the same quarter last year. sell-side analysts expect that Tenaris will post 1.39 EPS for the current year.

A number of hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC boosted its holdings in Tenaris by 50.2% in the second quarter. Cubist Systematic Strategies LLC now owns 7,208 shares of the industrial products company’s stock worth $262,000 after acquiring an additional 2,408 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Tenaris by 6.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 46,907 shares of the industrial products company’s stock worth $1,626,000 after acquiring an additional 2,874 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Tenaris by 50.6% in the second quarter. SG Americas Securities LLC now owns 10,268 shares of the industrial products company’s stock worth $374,000 after acquiring an additional 3,452 shares in the last quarter. Royal Bank of Canada boosted its holdings in Tenaris by 13.4% in the first quarter. Royal Bank of Canada now owns 30,755 shares of the industrial products company’s stock worth $1,067,000 after acquiring an additional 3,624 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Tenaris by 44.2% in the first quarter. PNC Financial Services Group Inc. now owns 15,093 shares of the industrial products company’s stock worth $523,000 after acquiring an additional 4,626 shares in the last quarter. 13.96% of the stock is currently owned by institutional investors.

Tenaris Company Profile

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.

Recommended Story: Google Finance Portfolio Workaround

The Fly

Analyst Recommendations for Tenaris (NYSE:TS)

Receive News & Ratings for Tenaris Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenaris and related companies with MarketBeat.com's FREE daily email newsletter.