Tenaris S.A. (NYSE:TS) Receives Consensus Rating of “Hold” from Brokerages
Shares of Tenaris S.A. (NYSE:TS) have been assigned an average rating of “Hold” from the thirteen analysts that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $35.17.
Several equities analysts have recently commented on the company. Berenberg Bank reaffirmed a “hold” rating and set a $30.00 target price on shares of Tenaris in a report on Monday. Cowen and Company set a $28.00 target price on Tenaris and gave the company a “hold” rating in a report on Friday. BidaskClub downgraded Tenaris from a “hold” rating to a “sell” rating in a research report on Saturday. Scotiabank set a $40.00 price objective on Tenaris and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Finally, Zacks Investment Research downgraded Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday, July 22nd.
A number of hedge funds have recently made changes to their positions in the stock. Marathon Trading Investment Management LLC purchased a new stake in shares of Tenaris during the first quarter valued at about $205,000. Timber Hill LLC purchased a new stake in shares of Tenaris during the first quarter valued at about $205,000. JPMorgan Chase & Co. increased its stake in shares of Tenaris by 1,187.5% in the first quarter. JPMorgan Chase & Co. now owns 6,502 shares of the industrial products company’s stock valued at $222,000 after buying an additional 5,997 shares during the period. Paloma Partners Management Co purchased a new stake in shares of Tenaris during the first quarter valued at about $251,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Tenaris by 41.4% in the first quarter. BNP Paribas Arbitrage SA now owns 8,200 shares of the industrial products company’s stock valued at $280,000 after buying an additional 2,400 shares during the period. 18.67% of the stock is currently owned by institutional investors.
Tenaris (TS) traded down 0.67% during mid-day trading on Tuesday, hitting $28.13. The stock had a trading volume of 2,604,389 shares. The company has a 50-day moving average of $31.14 and a 200-day moving average of $32.35. The stock has a market cap of $16.60 billion, a price-to-earnings ratio of 68.61 and a beta of 0.63. Tenaris has a 12-month low of $25.19 and a 12-month high of $37.21.
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Tenaris Company Profile
Tenaris SA is a holding company, which is a steel producer with production facilities in Mexico, Argentina, Colombia, United States and Guatemala. The Company supplies round steel bars and flat steel products for its pipes business. It operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the oil and gas industry, principally oil country tubular goods (OCTG) used in drilling operations, and for other industrial applications with production processes that include in the transformation of steel into tubular products.
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