Tenaris (NYSE:TS) Raised to Buy at Wall Street Zen

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

Several other brokerages have also issued reports on TS. Zacks Research raised Tenaris from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 10th. Barclays boosted their target price on shares of Tenaris to $82.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Piper Sandler increased their target price on shares of Tenaris from $56.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, May 18th. Weiss Ratings cut shares of Tenaris from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, July 10th. Finally, Morgan Stanley raised shares of Tenaris from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $53.00 to $65.00 in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.12.

Tenaris Trading Up 2.5%

TS stock opened at $57.16 on Friday. The firm has a market cap of $30.64 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 1.36 and a beta of 0.84. The stock has a 50-day moving average price of $59.25 and a 200-day moving average price of $54.43. Tenaris has a 1-year low of $33.65 and a 1-year high of $64.60.

Tenaris (NYSE:TS) last announced its earnings results on Thursday, May 7th. The industrial products company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.87 by $0.20. Tenaris had a return on equity of 11.53% and a net margin of 16.17%.The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter in the prior year, the company earned $0.94 EPS. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, analysts forecast that Tenaris will post 3.66 earnings per share for the current year.

Hedge Funds Weigh In On Tenaris

A number of institutional investors have recently modified their holdings of TS. Renaissance Technologies LLC raised its position in shares of Tenaris by 7.9% during the first quarter. Renaissance Technologies LLC now owns 3,199,744 shares of the industrial products company’s stock worth $186,161,000 after purchasing an additional 235,400 shares during the period. Sourcerock Group LLC grew its position in Tenaris by 25.9% in the 2nd quarter. Sourcerock Group LLC now owns 3,086,075 shares of the industrial products company’s stock valued at $115,419,000 after purchasing an additional 635,817 shares during the period. Wellington Management Group LLP increased its stake in Tenaris by 25.6% during the 4th quarter. Wellington Management Group LLP now owns 2,682,137 shares of the industrial products company’s stock valued at $103,128,000 after purchasing an additional 546,144 shares in the last quarter. Van ECK Associates Corp increased its stake in Tenaris by 25.4% during the 4th quarter. Van ECK Associates Corp now owns 2,019,185 shares of the industrial products company’s stock valued at $77,638,000 after purchasing an additional 408,592 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its holdings in Tenaris by 3.1% during the second quarter. Balyasny Asset Management L.P. now owns 1,767,924 shares of the industrial products company’s stock worth $66,120,000 after buying an additional 53,155 shares during the last quarter. 10.45% of the stock is owned by institutional investors and hedge funds.

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.