Tenneco (NYSE:TEN) has been given a $10.00 price objective by research analysts at Morgan Stanley in a research report issued on Thursday, TipRanks reports. The brokerage presently has a “sell” rating on the auto parts company’s stock. Morgan Stanley’s price objective points to a potential downside of 15.75% from the stock’s previous close.
A number of other equities research analysts have also recently commented on the company. UBS Group decreased their price target on Tenneco from $28.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Royal Bank of Canada decreased their price target on Tenneco to $31.00 and set a “sector perform” rating for the company in a research note on Friday, March 15th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $24.50.
Tenneco stock traded down $0.26 during midday trading on Thursday, reaching $11.87. The company’s stock had a trading volume of 1,281,200 shares, compared to its average volume of 987,911. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.85 and a current ratio of 1.37. Tenneco has a 52-week low of $11.85 and a 52-week high of $48.35. The stock has a market cap of $739.76 million, a PE ratio of 1.89, a price-to-earnings-growth ratio of 0.34 and a beta of 1.94.
Tenneco (NYSE:TEN) last released its quarterly earnings results on Thursday, May 9th. The auto parts company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.42). Tenneco had a negative net margin of 0.85% and a positive return on equity of 25.31%. The business had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.49 billion. During the same quarter last year, the business posted $1.56 earnings per share. The company’s quarterly revenue was up 73.7% compared to the same quarter last year. As a group, sell-side analysts predict that Tenneco will post 4.8 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the company. Advisors Asset Management Inc. acquired a new position in shares of Tenneco in the fourth quarter valued at about $27,000. Investors Research Corp acquired a new position in shares of Tenneco in the first quarter valued at about $30,000. US Bancorp DE increased its holdings in shares of Tenneco by 49.8% in the first quarter. US Bancorp DE now owns 1,820 shares of the auto parts company’s stock valued at $40,000 after purchasing an additional 605 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of Tenneco in the first quarter valued at about $40,000. Finally, Bartlett & Co. LLC acquired a new position in shares of Tenneco in the first quarter valued at about $44,000. 91.76% of the stock is currently owned by institutional investors and hedge funds.
Tenneco Company Profile
Tenneco Inc designs, manufactures, and sells clean air, powertrain, and ride performance products and systems for light vehicle, commercial truck, off-highway, industrial, and aftermarket customers worldwide. The company offers clean air products and systems, including catalytic converters and diesel oxidation catalysts, diesel particulate filters, burner systems, lean nitrogen oxide (NOx) traps, hydrocarbon vaporizers and injectors, selective catalytic reduction (SCR) systems, SCR-coated diesel particulate filters systems, urea dosing systems, four-way catalysts, alternative NOx reduction technologies, mufflers and resonators, fabricated exhaust manifolds, pipes, hydroformed assemblies, elastomeric hangers and isolators, and aftertreatment control units.
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