Tenaris (NYSE:TS) has been given a $40.00 target price by equities research analysts at Piper Jaffray Companies in a report released on Saturday. The firm presently has a “buy” rating on the industrial products company’s stock. Piper Jaffray Companies’ price objective indicates a potential upside of 8.23% from the company’s current price.
Other analysts have also issued research reports about the company. Cowen set a $33.00 price objective on Tenaris and gave the stock a “hold” rating in a research report on Thursday, January 11th. Morgan Stanley upped their price objective on Tenaris from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Zacks Investment Research raised Tenaris from a “hold” rating to a “strong-buy” rating and set a $40.00 price objective on the stock in a research report on Thursday, March 1st. Barclays reaffirmed a “buy” rating and set a $41.00 price objective on shares of Tenaris in a research report on Tuesday, February 27th. Finally, Macquarie raised Tenaris from an “underperform” rating to a “neutral” rating in a research report on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $38.09.
Tenaris (NYSE TS) opened at $36.96 on Friday. Tenaris has a 52 week low of $25.91 and a 52 week high of $37.48. The company has a market capitalization of $21,816.30, a price-to-earnings ratio of 39.74 and a beta of 0.72.
A number of large investors have recently bought and sold shares of the stock. Elkfork Partners LLC purchased a new position in Tenaris in the fourth quarter valued at $154,000. Envestnet Asset Management Inc. increased its holdings in Tenaris by 19.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 68,543 shares of the industrial products company’s stock valued at $2,184,000 after buying an additional 11,047 shares during the last quarter. Westwood Holdings Group Inc. increased its holdings in Tenaris by 7.1% in the fourth quarter. Westwood Holdings Group Inc. now owns 2,052,814 shares of the industrial products company’s stock valued at $65,403,000 after buying an additional 136,000 shares during the last quarter. Glenmede Trust Co. NA increased its holdings in Tenaris by 203.2% in the fourth quarter. Glenmede Trust Co. NA now owns 5,167 shares of the industrial products company’s stock valued at $164,000 after buying an additional 3,463 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in Tenaris by 109.0% in the fourth quarter. Jane Street Group LLC now owns 210,696 shares of the industrial products company’s stock valued at $6,651,000 after buying an additional 109,896 shares during the last quarter. 12.86% of the stock is currently owned by hedge funds and other institutional investors.
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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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