Tenneco Inc. (NYSE:TEN) Receives Average Rating of “Hold” from Brokerages
Shares of Tenneco Inc. (NYSE:TEN) have earned a consensus rating of “Hold” from the eleven research firms that are presently covering the firm. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $62.17.
A number of research firms have recently weighed in on TEN. Zacks Investment Research upgraded Tenneco from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research report on Tuesday, September 13th. Deutsche Bank AG boosted their target price on Tenneco from $67.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, August 1st. Finally, Barclays PLC restated an “overweight” rating and set a $58.00 target price (down previously from $60.00) on shares of Tenneco in a research report on Tuesday, July 19th.
In other Tenneco news, VP John E. Kunz sold 4,322 shares of the stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $56.96, for a total value of $246,181.12. Following the completion of the sale, the vice president now directly owns 32,523 shares in the company, valued at $1,852,510.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David B. Price, Jr. sold 30,000 shares of the stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $55.86, for a total value of $1,675,800.00. Following the completion of the sale, the director now owns 2,757 shares of the company’s stock, valued at $154,006.02. The disclosure for this sale can be found here. 4.30% of the stock is owned by company insiders.
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Several large investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its stake in shares of Tenneco by 1,611.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,595 shares of the company’s stock valued at $168,000 after buying an additional 3,385 shares during the period. New York State Teachers Retirement System acquired a new stake in shares of Tenneco during the second quarter valued at about $177,000. Pacer Advisors Inc. acquired a new stake in shares of Tenneco during the second quarter valued at about $201,000. Bancorpsouth Inc. acquired a new stake in shares of Tenneco during the first quarter valued at about $234,000. Finally, Jane Street Group LLC acquired a new stake in shares of Tenneco during the second quarter valued at about $213,000. Institutional investors own 91.99% of the company’s stock.
Tenneco (NYSE:TEN) traded up 0.90% during trading on Wednesday, hitting $56.98. The company had a trading volume of 135,738 shares. The firm has a 50-day moving average of $55.94 and a 200 day moving average of $52.22. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of 12.57 and a beta of 2.14. Tenneco has a 12-month low of $34.45 and a 12-month high of $58.46.
Tenneco (NYSE:TEN) last released its earnings results on Friday, July 29th. The company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.17. The company earned $2.20 billion during the quarter, compared to the consensus estimate of $2.24 billion. Tenneco had a return on equity of 61.10% and a net margin of 3.13%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.39 earnings per share. On average, equities research analysts forecast that Tenneco will post $5.91 earnings per share for the current year.
Tenneco Company Profile
Tenneco Inc (Tenneco) is a producer of clean air and ride performance products and systems for light vehicle, commercial truck, off-highway and other vehicle applications. The Company operates in six segments: North America Clean Air; North America Ride Performance; Europe, South America and India Clean Air; Europe, South America and India Ride Performance; Asia Pacific Clean Air, and Asia Pacific Ride Performance.
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