Tenneco Rating Reiterated by Zacks (TEN)
Tenneco (NYSE:TEN)‘s stock had its “neutral” rating reiterated by Zacks in a report issued on Monday, AR Network reports. They currently have a $59.00 price objective on the stock. Zacks‘ price target would suggest a potential upside of 7.43% from the stock’s previous close.
Zacks‘ analyst wrote, “Tenneco reported adjusted earnings per share (EPS) of $0.99 in the third quarter of 2013, surpassing the Zacks Consensus Estimate of $0.95. Revenues increased 10% year over year to $1.96 billion, beating the Zacks Consensus Estimate of $1.95 billion. The company generated high revenues from all operating segments. Tenneco is expected to benefit from tighter emission regulations and its focus on maximizing efficiency in the manufacturing processes should have a favorable impact in the long run. However, high customer concentration poses a threat. Furthermore, the company sees a relatively weak demand in the high-margin aftermarket parts business. Considering the pros and cons, we have maintained our Neutral recommendation. “
A number of other firms have also recently commented on TEN. Analysts at Goldman Sachs Group Inc. raised their price target on shares of Tenneco from $59.00 to $60.00 in a research note to investors on Thursday. They now have a “neutral” rating on the stock. Separately, analysts at Ned Davis Research downgraded shares of Tenneco from a “buy” rating to a “neutral” rating in a research note to investors on Monday, December 23rd. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Tenneco in a research note to investors on Friday, December 13th. They now have a $65.00 price target on the stock, up previously from $59.00. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $57.00.
Shares of Tenneco (NYSE:TEN) traded down 1.70% during mid-day trading on Monday, hitting $54.92. 492,047 shares of the company’s stock traded hands. Tenneco has a 1-year low of $34.26 and a 1-year high of $57.85. The stock’s 50-day moving average is $56.0 and its 200-day moving average is $51.58. The company has a market cap of $3.341 billion and a P/E ratio of 21.20.
Tenneco (NYSE:TEN) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.99 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.85 earnings per share. Tenneco’s revenue was up 10.4% compared to the same quarter last year. Analysts expect that Tenneco will post $3.63 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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