Wall Street Zen Upgrades Tenaris (NYSE:TS) to Buy

Tenaris (NYSE:TS) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

TS has been the topic of several other research reports. Morgan Stanley set a $36.00 target price on shares of Tenaris in a research note on Monday, December 15th. Stifel Nicolaus lifted their price target on shares of Tenaris from $37.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Cowen restated a “buy” rating on shares of Tenaris in a research report on Wednesday, January 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tenaris in a report on Monday, December 29th. Finally, BNP Paribas cut shares of Tenaris from an “outperform” rating to a “hold” rating in a research note on Friday, October 10th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Tenaris presently has an average rating of “Hold” and an average target price of $42.32.

Tenaris Trading Up 0.7%

TS stock opened at $41.77 on Friday. Tenaris has a 1-year low of $30.06 and a 1-year high of $42.69. The business’s 50 day moving average is $40.01 and its 200-day moving average is $37.71. The firm has a market cap of $24.28 billion, a P/E ratio of 11.23 and a beta of 0.96.

Tenaris (NYSE:TS) last posted its earnings results on Thursday, October 30th. The industrial products company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.75 by $0.10. Tenaris had a return on equity of 11.72% and a net margin of 16.91%.The business had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter last year, the company earned $0.81 EPS. Tenaris’s revenue was up 2.1% on a year-over-year basis. Sell-side analysts forecast that Tenaris will post 3.14 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Sourcerock Group LLC increased its stake in shares of Tenaris by 25.9% in the 2nd quarter. Sourcerock Group LLC now owns 3,086,075 shares of the industrial products company’s stock valued at $115,419,000 after buying an additional 635,817 shares during the period. Wellington Management Group LLP lifted its stake in shares of Tenaris by 1.7% during the third quarter. Wellington Management Group LLP now owns 2,135,993 shares of the industrial products company’s stock valued at $76,404,000 after acquiring an additional 36,718 shares during the period. Balyasny Asset Management L.P. boosted its holdings in Tenaris by 3.1% in the second quarter. Balyasny Asset Management L.P. now owns 1,767,924 shares of the industrial products company’s stock valued at $66,120,000 after acquiring an additional 53,155 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Tenaris by 20.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,134,260 shares of the industrial products company’s stock worth $40,572,000 after purchasing an additional 192,794 shares during the period. Finally, Optiver Holding B.V. increased its position in Tenaris by 186.8% in the third quarter. Optiver Holding B.V. now owns 905,328 shares of the industrial products company’s stock worth $32,384,000 after purchasing an additional 589,625 shares during the period. Institutional investors and hedge funds own 10.45% of the company’s stock.

Tenaris Company Profile

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value‑added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.