Tenneco Inc. (NYSE:TEN) has been assigned an average rating of "Hold" from the six analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $14.20.
A number of equities research analysts recently issued reports on TEN shares. Wells Fargo & Company increased their price objective on Tenneco from $15.00 to $25.00 and gave the stock an "overweight" rating in a research report on Thursday, June 10th. TheStreet upgraded Tenneco from a "d+" rating to a "c-" rating in a research report on Friday, May 28th. Jefferies Financial Group started coverage on Tenneco in a research report on Thursday, April 1st. They issued a "buy" rating and a $13.00 price objective on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on Tenneco from $16.00 to $17.00 and gave the stock a "hold" rating in a research report on Thursday, July 15th. Finally, Morgan Stanley increased their price objective on Tenneco from $7.00 to $8.00 and gave the stock an "underweight" rating in a research report on Tuesday.
NYSE:TEN opened at $17.31 on Thursday. The stock has a market capitalization of $1.42 billion, a P/E ratio of -2.28 and a beta of 2.61. The stock's fifty day moving average is $18.27. Tenneco has a 1 year low of $6.19 and a 1 year high of $22.75. The company has a current ratio of 1.23, a quick ratio of 0.85 and a debt-to-equity ratio of 24.45.
Tenneco (NYSE:TEN) last posted its earnings results on Thursday, May 6th. The auto parts company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.38. The firm had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.37 billion. Tenneco had a positive return on equity of 50.55% and a negative net margin of 3.79%. The business's quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.31) earnings per share. Equities analysts forecast that Tenneco will post 3.76 earnings per share for the current year.
In other Tenneco news, major shareholder Carl C. Icahn sold 110,956 shares of the firm's stock in a transaction dated Monday, April 26th. The stock was sold at an average price of $10.86, for a total transaction of $1,204,982.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Carl C. Icahn sold 18,813 shares of the firm's stock in a transaction dated Wednesday, April 28th. The shares were sold at an average price of $10.75, for a total value of $202,239.75. The disclosure for this sale can be found here. Insiders have sold 1,789,223 shares of company stock worth $21,723,267 in the last 90 days. Company insiders own 1.41% of the company's stock.
Several large investors have recently made changes to their positions in the company. Millennium Management LLC grew its stake in shares of Tenneco by 0.8% during the first quarter. Millennium Management LLC now owns 474,634 shares of the auto parts company's stock valued at $5,088,000 after buying an additional 3,946 shares during the last quarter. Maj Invest Holding A S grew its stake in shares of Tenneco by 43.5% in the first quarter. Maj Invest Holding A S now owns 13,200 shares of the auto parts company's stock worth $142,000 after purchasing an additional 4,000 shares during the last quarter. Nuveen Asset Management LLC grew its stake in shares of Tenneco by 1.0% in the fourth quarter. Nuveen Asset Management LLC now owns 423,027 shares of the auto parts company's stock worth $4,485,000 after purchasing an additional 4,127 shares during the last quarter. New York State Teachers Retirement System bought a new stake in shares of Tenneco in the first quarter worth about $46,000. Finally, Citigroup Inc. grew its stake in shares of Tenneco by 0.3% in the first quarter. Citigroup Inc. now owns 1,717,635 shares of the auto parts company's stock worth $18,413,000 after purchasing an additional 4,860 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.
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 operates through Clean Air, Powertrain, Ride Performance, and Motorparts segments.
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