Tenneco Receives “Buy” Rating from Jefferies Group (TEN)
Tenneco (NYSE:TEN)‘s stock had its “buy” rating restated by analysts at Jefferies Group in a research report issued to clients and investors on Tuesday, Stock Ratings Network.com reports. They currently have a $62.00 price objective on the stock, up from their previous price objective of $56.00. Jefferies Group’s target price points to a potential upside of 13.78% from the stock’s previous close.
A number of other firms have also recently commented on TEN. Analysts at Zacks reiterated a “neutral” rating on shares of Tenneco in a research note to investors on Tuesday. They now have a $57.00 price target on the stock. Separately, analysts at Barclays raised their price target on shares of Tenneco from $51.00 to $54.00 in a research note to investors on Tuesday. They now have an “equal weight” rating on the stock. Finally, analysts at McLean Capital Management upgraded shares of Tenneco from a “neutral” rating to a “buy” rating in a research note to investors on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $54.50.
Tenneco (NYSE:TEN) traded down 0.62% during mid-day trading on Tuesday, hitting $54.15. 552,669 shares of the company’s stock traded hands. Tenneco has a one year low of $26.72 and a one year high of $51.00. The stock has a 50-day moving average of $48.36 and a 200-day moving average of $43.30. The company has a market cap of $3.308 billion and a price-to-earnings ratio of 12.08.
Tenneco (NYSE:TEN) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.99 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.94 by $0.05. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the company posted $0.85 earnings per share. The company’s quarterly revenue was up 10.4% on a year-over-year basis. Analysts expect that Tenneco will post $3.58 EPS for the current fiscal year.
Tenneco Inc (NYSE:TEN) is a producer of emission control and ride control products and systems for light, commercial and specialty vehicle applications.
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