Tenneco (NYSE:TEN) has been given a $70.00 price target by investment analysts at Guggenheim in a research report issued on Monday. The brokerage presently has a “buy” rating on the auto parts company’s stock. Guggenheim’s price target suggests a potential upside of 24.71% from the company’s current price.
Other equities research analysts have also issued research reports about the stock. Wells Fargo & Co dropped their target price on shares of Tenneco from $64.00 to $60.00 and set a “market perform” rating for the company in a report on Monday. ValuEngine lowered shares of Tenneco from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd. KeyCorp reaffirmed a “buy” rating and set a $80.00 target price (up previously from $73.00) on shares of Tenneco in a report on Monday, October 30th. They noted that the move was a valuation call. Royal Bank of Canada reaffirmed a “hold” rating and set a $63.00 target price on shares of Tenneco in a report on Friday. Finally, Barclays reaffirmed a “buy” rating and set a $74.00 target price on shares of Tenneco in a report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $67.00.
Tenneco (NYSE:TEN) traded up $0.73 during trading on Monday, hitting $56.13. 279,445 shares of the stock were exchanged, compared to its average volume of 509,772. Tenneco has a fifty-two week low of $51.54 and a fifty-two week high of $67.93. The stock has a market capitalization of $2,910.00, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 0.60 and a beta of 1.89. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.33 and a quick ratio of 0.93.
In related news, insider Peng Guo sold 5,558 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $57.69, for a total value of $320,641.02. Following the completion of the sale, the insider now owns 87,957 shares of the company’s stock, valued at $5,074,239.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.70% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Advisory Services Network LLC grew its holdings in shares of Tenneco by 107.4% in the second quarter. Advisory Services Network LLC now owns 2,184 shares of the auto parts company’s stock valued at $126,000 after purchasing an additional 1,131 shares during the period. Cerebellum GP LLC acquired a new position in Tenneco in the fourth quarter valued at about $129,000. Advisor Group Inc. lifted its position in Tenneco by 83.1% in the third quarter. Advisor Group Inc. now owns 2,364 shares of the auto parts company’s stock valued at $143,000 after buying an additional 1,073 shares during the last quarter. Fortaleza Asset Management Inc. lifted its position in Tenneco by 122.5% in the third quarter. Fortaleza Asset Management Inc. now owns 2,670 shares of the auto parts company’s stock valued at $162,000 after buying an additional 1,470 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Tenneco by 42.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,233 shares of the auto parts company’s stock valued at $189,000 after buying an additional 961 shares during the last quarter. 95.97% of the stock is owned by hedge funds and other institutional investors.
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.
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