Tenaris (NYSE:TS) was upgraded by stock analysts at Credit Suisse Group from an “underperform” rating to a “neutral” rating in a report issued on Monday.
Several other equities research analysts have also issued reports on the stock. Macquarie raised shares of Tenaris from an “underperform” rating to a “neutral” rating in a report on Friday, November 17th. Loop Capital boosted their price target on shares of Tenaris from $36.00 to $37.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Barclays started coverage on shares of Tenaris in a report on Wednesday, December 20th. They issued an “overweight” rating and a $39.00 price target on the stock. Zacks Investment Research raised shares of Tenaris from a “hold” rating to a “strong-buy” rating and set a $37.00 price target on the stock in a report on Friday, January 5th. Finally, TheStreet raised shares of Tenaris from a “c” rating to a “b-” rating in a report on Tuesday, December 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $36.25.
Shares of Tenaris (NYSE TS) traded up $0.46 during mid-day trading on Monday, reaching $34.54. 2,244,600 shares of the company were exchanged, compared to its average volume of 2,141,733. Tenaris has a fifty-two week low of $25.91 and a fifty-two week high of $37.21. The company has a market capitalization of $20,387.86, a price-to-earnings ratio of 47.97 and a beta of 0.65.
Several large investors have recently modified their holdings of TS. D.A. Davidson & CO. boosted its stake in shares of Tenaris by 15.0% in the 2nd quarter. D.A. Davidson & CO. now owns 7,742 shares of the industrial products company’s stock valued at $241,000 after purchasing an additional 1,011 shares in the last quarter. FDx Advisors Inc. acquired a new stake in shares of Tenaris in the 3rd quarter valued at $243,000. BNP Paribas Arbitrage SA boosted its stake in shares of Tenaris by 7.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,793 shares of the industrial products company’s stock valued at $274,000 after purchasing an additional 593 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in shares of Tenaris in the 3rd quarter valued at $282,000. Finally, Virtu KCG Holdings LLC acquired a new stake in shares of Tenaris in the 2nd quarter valued at $309,000. Institutional investors own 15.08% of the company’s stock.
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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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