Tenneco Rating Lowered to Outperform at RBC Capital (TEN)
Tenneco (NYSE:TEN) was downgraded by stock analysts at RBC Capital from a “top pick” rating to an “outperform” rating in a report issued on Tuesday, TheFlyOnTheWall.com reports. They currently have a $66.00 price objective on the stock. RBC Capital’s target price indicates a potential upside of 17.29% from the stock’s previous close. The analysts noted that the move was a valuation call.
Tenneco (NYSE:TEN) opened at 56.27 on Tuesday. Tenneco has a 52-week low of $32.03 and a 52-week high of $57.85. The stock has a 50-day moving average of $54.85 and a 200-day moving average of $49.87. The company has a market cap of $3.423 billion and a price-to-earnings ratio of 21.35.
Tenneco (NYSE:TEN) last announced its earnings results on Monday, October 28th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.85 earnings per share. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. Analysts expect that Tenneco will post $3.64 EPS for the current fiscal year.
TEN has been the subject of a number of other recent research reports. Analysts at Guggenheim initiated coverage on shares of Tenneco in a research note to investors on Tuesday, December 3rd. They set a “buy” rating on the stock. Separately, analysts at Thomson Reuters/Verus downgraded shares of Tenneco from a “hold” rating to a “sell” rating in a research note to investors on Monday, November 4th. Finally, analysts at Morgan Stanley raised their price target on shares of Tenneco from $35.00 to $38.00 in a research note to investors on Tuesday, October 29th. They now have an “underweight” rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $55.70.
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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