Tenaris (NYSE:TS) Stock Rating Upgraded by Wall Street Zen

Tenaris (NYSE:TS - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday, Wall Street Zen reports.

A number of other equities analysts have also recently weighed in on the stock. Zacks Research raised shares of Tenaris from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Piper Sandler raised their price objective on shares of Tenaris from $60.00 to $67.00 and gave the company a "neutral" rating in a research note on Monday, November 9th. Bank of America boosted their price objective on shares of Tenaris from $66.00 to $71.00 and gave the stock a "buy" rating in a report on Monday, October 5th. TD Cowen boosted their price objective on shares of Tenaris from $67.00 to $68.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Finally, Weiss Ratings upgraded shares of Tenaris from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.09.

Tenaris Price Performance

Tenaris stock opened at $61.32 on Friday. The stock's 50 day moving average price is $57.60 and its 200 day moving average price is $56.75. Tenaris has a 1-year low of $37.69 and a 1-year high of $64.60. The company has a market cap of $30.96 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 1.43 and a beta of 0.89.

Tenaris (NYSE:TS - Get Free Report) last released its quarterly earnings data on Wednesday, November 4th. The industrial products company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.20. The firm had revenue of $3.10 billion during the quarter, compared to analysts' expectations of $3.03 billion. Tenaris had a return on equity of 11.53% and a net margin of 16.24%. Tenaris's revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.85 earnings per share. On average, equities research analysts anticipate that Tenaris will post 4.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Tenaris

Several hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew its position in shares of Tenaris by 7.9% in the first quarter. Renaissance Technologies LLC now owns 3,199,744 shares of the industrial products company's stock valued at $186,161,000 after purchasing an additional 235,400 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Tenaris by 2.2% during the 2nd quarter. Wellington Management Group LLP now owns 2,458,033 shares of the industrial products company's stock worth $136,396,000 after purchasing an additional 52,999 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Tenaris during the 1st quarter worth approximately $1,026,000. Kiltearn Partners LLP acquired a new position in shares of Tenaris during the 2nd quarter worth approximately $9,642,000. Finally, Ethic Inc. raised its position in shares of Tenaris by 40.5% during the 3rd quarter. Ethic Inc. now owns 139,055 shares of the industrial products company's stock worth $7,673,000 after purchasing an additional 40,067 shares during the last quarter. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

Tenaris Company Profile

Tenaris S.A. is a global manufacturer and supplier of steel pipe products and related services, with a primary focus on the energy industry. Its products include casing and tubing used in oil and gas wells, line pipe for transporting fluids, and other tubular products for industrial applications. The company also provides services such as pipe processing, engineering support, logistics, and assistance at drilling sites. Tenaris serves customers across a broad range of international markets, including the Americas, Europe, the Middle East, Africa, and Asia.

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