Tenneco Lowered to Hold at Deutsche Bank (TEN)
Tenneco (NYSE:TEN) was downgraded by investment analysts at Deutsche Bank from a “buy” rating to a “hold” rating in a note issued to investors on Friday, TheFlyOnTheWall.com reports. They currently have a $66.00 price objective on the stock. Deutsche Bank’s price objective indicates a potential upside of 1.85% from the company’s current price. The analysts noted that the move was a valuation call.
Tenneco (NYSE:TEN) traded up 0.22% on Friday, hitting $64.80. The stock had a trading volume of 451,194 shares. Tenneco has a 1-year low of $41.88 and a 1-year high of $67.69. The stock’s 50-day moving average is $62. and its 200-day moving average is $58.78. The company has a market cap of $3.945 billion and a price-to-earnings ratio of 22.77.
Tenneco (NYSE:TEN) last released its earnings data on Monday, April 28th. The company reported $0.91 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.85 by $0.06. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. On average, analysts predict that Tenneco will post $4.42 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at KeyCorp reiterated a “buy” rating on shares of Tenneco in a research note on Monday. They now have a $77.00 price target on the stock, up previously from $67.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Tenneco in a research note on Tuesday, April 29th. They now have a $62.00 price target on the stock. Finally, analysts at Barclays reiterated an “equal weight” rating on shares of Tenneco in a research note on Tuesday, April 29th. They now have a $61.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $63.78.
In other Tenneco news, SVP Brent J. Bauer unloaded 13,811 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $64.48, for a total transaction of $890,533.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
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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