Tenneco (TEN) Price Target Lowered to $60.00 at Wells Fargo & Co

Tenneco (NYSE:TEN) had its price target dropped by Wells Fargo & Co from $64.00 to $60.00 in a report released on Monday. The firm presently has a “market perform” rating on the auto parts company’s stock. Wells Fargo & Co’s price target points to a potential upside of 6.36% from the stock’s current price.

A number of other research analysts also recently weighed in on TEN. Royal Bank of Canada reiterated a “hold” rating and set a $63.00 price target on shares of Tenneco in a report on Friday, February 9th. ValuEngine downgraded Tenneco from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd. Barclays reiterated a “buy” rating and set a $74.00 price target on shares of Tenneco in a report on Tuesday, January 9th. Finally, KeyCorp reiterated a “buy” rating and set a $80.00 price target (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. One 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 currently has a consensus rating of “Hold” and an average target price of $67.00.

Shares of Tenneco (TEN) traded down $0.77 during mid-day trading on Monday, hitting $56.41. The stock had a trading volume of 349,423 shares, compared to its average volume of 542,431. Tenneco has a twelve month low of $51.54 and a twelve month 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 stock has a market capitalization of $2,884.32, a P/E ratio of 14.37, a price-to-earnings-growth ratio of 0.60 and a beta of 1.90.

Tenneco (NYSE:TEN) last issued its quarterly earnings results on Friday, February 9th. The auto parts company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.25. Tenneco had a return on equity of 53.94% and a net margin of 2.22%. The business had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the previous year, the company posted $1.67 earnings per share. Tenneco’s revenue for the quarter was up 11.0% compared to the same quarter last year. analysts anticipate that Tenneco will post 7.36 EPS for the current fiscal year.

In related news, insider Peng Guo sold 5,558 shares of Tenneco stock in a transaction on Wednesday, December 13th. The stock was 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 $5,074,239.33. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.70% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Voya Investment Management LLC lifted its position in shares of Tenneco by 10.8% in the second quarter. Voya Investment Management LLC now owns 24,308 shares of the auto parts company’s stock worth $1,406,000 after buying an additional 2,365 shares during the last quarter. American International Group Inc. lifted its position in shares of Tenneco by 8.1% in the third quarter. American International Group Inc. now owns 35,804 shares of the auto parts company’s stock worth $2,172,000 after buying an additional 2,677 shares during the last quarter. Algert Global LLC acquired a new stake in shares of Tenneco in the third quarter worth about $2,899,000. D.A. Davidson & CO. acquired a new stake in shares of Tenneco in the third quarter worth about $709,000. Finally, Canada Pension Plan Investment Board lifted its position in shares of Tenneco by 12.3% in the third quarter. Canada Pension Plan Investment Board now owns 181,500 shares of the auto parts company’s stock worth $11,012,000 after buying an additional 19,900 shares during the last quarter. 95.97% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: “Tenneco (TEN) Price Target Lowered to $60.00 at Wells Fargo & Co” was published by American Banking News and is the sole property of of American Banking News. If you are accessing this news story on another site, it was copied illegally and republished in violation of United States & international copyright law. The original version of this news story can be viewed at https://www.americanbankingnews.com/2018/02/12/tenneco-ten-price-target-cut-to-60-00.html.

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)

Receive News & Ratings for Tenneco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenneco and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply