Tenneco’s (TEN) “Hold” Rating Reiterated at Royal Bank of Canada

Tenneco (NYSE:TEN)‘s stock had its “hold” rating restated by equities researchers at Royal Bank of Canada in a research report issued on Friday. They currently have a $63.00 price objective on the auto parts company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 13.72% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. ValuEngine lowered shares of Tenneco from a “buy” rating to a “hold” rating in a research note on Saturday, February 3rd. Wells Fargo & Co decreased their price objective on shares of Tenneco from $68.00 to $64.00 and set a “market perform” rating for the company in a research note on Monday, October 30th. KeyCorp reaffirmed a “buy” rating and issued a $80.00 price objective (up previously from $73.00) on shares of Tenneco in a research note on Monday, October 30th. They noted that the move was a valuation call. Finally, Barclays reaffirmed a “buy” rating and issued a $74.00 price objective on shares of Tenneco in a research note on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $67.20.

Tenneco (NYSE:TEN) traded up $1.03 during trading on Friday, reaching $55.40. 1,090,000 shares of the company were exchanged, compared to its average volume of 473,182. Tenneco has a 1 year low of $51.54 and a 1 year high of $67.93. The company has a quick ratio of 0.93, a current ratio of 1.33 and a debt-to-equity ratio of 2.29. The firm has a market cap of $2,920.00, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 0.59 and a beta of 1.89.

Tenneco (NYSE:TEN) last posted its quarterly earnings data on Friday, February 9th. The auto parts company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.25. Tenneco had a net margin of 1.97% and a return on equity of 54.13%. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same quarter last year, the business posted $1.67 EPS. The company’s revenue was up 11.0% on a year-over-year basis. equities analysts expect that Tenneco will post 6.7 earnings per share for the current year.

In other Tenneco news, insider Peng Guo sold 5,558 shares of Tenneco stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $57.69, for a total transaction of $320,641.02. Following the completion of the sale, the insider now owns 87,957 shares of the company’s stock, valued at approximately $5,074,239.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.70% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Baird Financial Group Inc. raised its holdings in Tenneco by 3.3% in the 4th quarter. Baird Financial Group Inc. now owns 37,243 shares of the auto parts company’s stock worth $2,180,000 after acquiring an additional 1,186 shares during the period. Schroder Investment Management Group increased its holdings in shares of Tenneco by 87.0% during the 4th quarter. Schroder Investment Management Group now owns 8,600 shares of the auto parts company’s stock worth $503,000 after purchasing an additional 4,000 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Tenneco by 35.9% during the 4th quarter. Bank of New York Mellon Corp now owns 467,952 shares of the auto parts company’s stock worth $27,395,000 after purchasing an additional 123,591 shares during the period. D.A. Davidson & CO. increased its holdings in shares of Tenneco by 104.0% during the 4th quarter. D.A. Davidson & CO. now owns 23,837 shares of the auto parts company’s stock worth $1,395,000 after purchasing an additional 12,150 shares during the period. Finally, Trilogy Capital Inc. bought a new position in shares of Tenneco during the 4th quarter worth about $206,000. 95.13% of the stock is owned by institutional investors and hedge funds.

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Tenneco Company Profile

Tenneco Inc 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 designs, manufactures and distributes highly engineered products for both original equipment vehicle manufacturers (OEMs) and the repair and replacement markets, or aftermarket, across the world.

Analyst Recommendations for Tenneco (NYSE:TEN)

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