Tenaris (NYSE:TS) Cut to Hold at Wall Street Zen

Tenaris (NYSE:TS) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Several other equities analysts have also weighed in on TS. Piper Sandler reiterated a “neutral” rating on shares of Tenaris in a report on Thursday, December 18th. Oddo Bhf raised Tenaris to an “outperform” rating in a research report on Thursday, February 5th. The Goldman Sachs Group started coverage on Tenaris in a research note on Monday, December 15th. They set a “neutral” rating and a $43.60 price target on the stock. Morgan Stanley set a $38.00 price target on Tenaris and gave the stock an “underweight” rating in a report on Wednesday, January 21st. Finally, TD Cowen restated a “buy” rating on shares of Tenaris in a report on Wednesday, January 7th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $42.72.

Tenaris Stock Up 3.6%

Tenaris stock opened at $48.76 on Friday. The company has a market capitalization of $28.35 billion, a PE ratio of 13.11, a PEG ratio of 12.47 and a beta of 0.95. Tenaris has a 12-month low of $30.06 and a 12-month high of $48.83. The firm’s fifty day moving average is $42.03 and its 200 day moving average is $38.75.

Institutional Trading of Tenaris

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TS. Sourcerock Group LLC raised its stake in shares of Tenaris by 25.9% in the second quarter. Sourcerock Group LLC now owns 3,086,075 shares of the industrial products company’s stock worth $115,419,000 after purchasing an additional 635,817 shares during the last quarter. Optiver Holding B.V. grew its holdings in Tenaris by 186.8% during the third quarter. Optiver Holding B.V. now owns 905,328 shares of the industrial products company’s stock worth $32,384,000 after buying an additional 589,625 shares in the last quarter. Van ECK Associates Corp grew its holdings in Tenaris by 25.4% during the fourth quarter. Van ECK Associates Corp now owns 2,019,185 shares of the industrial products company’s stock worth $77,638,000 after buying an additional 408,592 shares in the last quarter. ABC Arbitrage SA grew its holdings in Tenaris by 252.6% during the second quarter. ABC Arbitrage SA now owns 467,268 shares of the industrial products company’s stock worth $17,476,000 after buying an additional 334,755 shares in the last quarter. Finally, Jump Financial LLC purchased a new stake in Tenaris in the 2nd quarter valued at $9,380,000. 10.45% of the stock is owned by institutional investors.

Tenaris Company Profile

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value‑added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.