Tenaris S.A. (TS) Given Average Rating of “Hold” by Analysts
Tenaris S.A. (NYSE:TS) has received an average rating of “Hold” from the twelve brokerages that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $35.44.
Several equities analysts recently commented on TS shares. BidaskClub raised shares of Tenaris from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Zacks Investment Research lowered shares of Tenaris from a “buy” rating to a “hold” rating in a report on Saturday, July 22nd. Cowen and Company set a $28.00 target price on shares of Tenaris and gave the company a “hold” rating in a report on Friday, October 6th. Berenberg Bank reaffirmed a “hold” rating and set a $30.00 target price on shares of Tenaris in a report on Monday, August 7th. Finally, Scotiabank set a $40.00 target price on shares of Tenaris and gave the company a “buy” rating in a report on Thursday, August 3rd.
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Tenaris (NYSE TS) traded down 0.30% during mid-day trading on Friday, hitting $26.29. 2,101,469 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $27.91 and its 200-day moving average price is $30.02. Tenaris has a 12 month low of $26.17 and a 12 month high of $37.21. The stock has a market cap of $15.52 billion, a PE ratio of 525.80 and a beta of 0.66.
A number of institutional investors have recently made changes to their positions in the business. Harding Loevner LP grew its holdings in Tenaris by 2.0% in the 2nd quarter. Harding Loevner LP now owns 14,598,727 shares of the industrial products company’s stock worth $454,604,000 after acquiring an additional 281,911 shares during the last quarter. Westwood Holdings Group Inc. grew its holdings in Tenaris by 32.8% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,562,694 shares of the industrial products company’s stock worth $48,662,000 after acquiring an additional 386,132 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Tenaris in the 1st quarter worth $32,539,000. Global X Management Co. LLC grew its holdings in Tenaris by 14.0% in the 2nd quarter. Global X Management Co. LLC now owns 791,075 shares of the industrial products company’s stock worth $24,634,000 after acquiring an additional 96,947 shares during the last quarter. Finally, Calamos Advisors LLC grew its holdings in Tenaris by 20.7% in the 2nd quarter. Calamos Advisors LLC now owns 514,008 shares of the industrial products company’s stock worth $16,006,000 after acquiring an additional 88,154 shares during the last quarter. 15.98% of the stock is currently owned by institutional investors and hedge funds.
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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