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 released on Saturday.

A number of other equities research analysts have also recently issued reports on the stock. Weiss Ratings cut shares of Tenaris from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, July 10th. Zacks Research upgraded Tenaris from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. Piper Sandler boosted their price target on Tenaris from $56.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, May 18th. Morgan Stanley raised shares of Tenaris from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $53.00 to $65.00 in a research report on Wednesday. Finally, Barclays increased their price objective on shares of Tenaris to $82.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Tenaris currently has a consensus rating of “Moderate Buy” and an average price target of $62.12.

Tenaris Trading Down 0.0%

Shares of NYSE TS opened at $57.16 on Friday. The stock has a 50 day moving average of $59.25 and a 200-day moving average of $54.54. Tenaris has a 12 month low of $33.65 and a 12 month high of $64.60. The company has a market capitalization of $30.63 billion, a P/E ratio of 15.12, a P/E/G ratio of 1.39 and a beta of 0.84.

Tenaris (NYSE:TS) last released its quarterly earnings data on Thursday, May 7th. The industrial products company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.87 by $0.20. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $2.99 billion. Tenaris had a net margin of 16.17% and a return on equity of 11.53%. During the same period in the previous year, the company earned $0.94 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. Analysts predict that Tenaris will post 3.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Tenaris

Institutional investors have recently modified their holdings of the business. AQR Capital Management LLC grew its position in Tenaris by 14.3% in the first quarter. AQR Capital Management LLC now owns 23,662 shares of the industrial products company’s stock valued at $925,000 after acquiring an additional 2,969 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Tenaris in the first quarter worth about $203,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in shares of Tenaris in the first quarter worth about $5,458,000. JPMorgan Chase & Co. boosted its stake in shares of Tenaris by 77.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 16,877 shares of the industrial products company’s stock valued at $631,000 after purchasing an additional 7,363 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Tenaris by 4.2% in the 2nd quarter. Rhumbline Advisers now owns 8,387 shares of the industrial products company’s stock valued at $314,000 after purchasing an additional 338 shares in the last quarter. Institutional investors and hedge funds own 10.45% of the company’s stock.

About Tenaris

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.