Tenaris (NYSE:TS) Stock Breaks Above 200-Day Moving Average - Time to Sell?

Key Points

• Tenaris shares broke above their 200-day moving average, reaching $58.74 and last trading near $58.44, compared with a 200-day average of $57.85.
• Analyst sentiment remains mixed: five analysts rate the stock Buy and six rate it Hold, producing a consensus Hold rating and a $63.67 price target.
• Tenaris beat quarterly expectations with $0.95 in earnings per share versus $0.79 expected and $2.97 billion in revenue, though revenue declined 3.9% year over year. Institutional investors own 10.45% of the company.

Tenaris S.A. (NYSE:TS - Get Free Report) passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $57.85 and traded as high as $58.74. Tenaris shares last traded at $58.4390, with a volume of 1,948,884 shares.

Analyst Ratings Changes

TS has been the subject of a number of research analyst reports. Zacks Research downgraded Tenaris from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 10th. Barclays decreased their price objective on shares of Tenaris from $82.00 to $80.00 and set an "overweight" rating on the stock in a research report on Monday, August 10th. Morgan Stanley lowered their target price on shares of Tenaris from $65.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 20th. Bank of America boosted their price target on shares of Tenaris from $66.00 to $71.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Weiss Ratings cut shares of Tenaris from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, August 7th. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $63.67.

Tenaris Stock Performance

The stock has a market capitalization of $31.32 billion, a P/E ratio of 15.63, a price-to-earnings-growth ratio of 2.22 and a beta of 0.89. The firm has a 50-day moving average price of $55.36 and a 200 day moving average price of $57.85.

Tenaris (NYSE:TS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.95 earnings per share for the quarter, beating analysts' consensus estimates of $0.79 by $0.16. The company had revenue of $2.97 billion for the quarter, compared to analysts' expectations of $2.93 billion. Tenaris had a return on equity of 11.14% and a net margin of 15.88%.Tenaris's revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period last year, the firm posted $0.50 EPS. On average, equities analysts anticipate that Tenaris S.A. will post 3.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tenaris

A number of hedge funds have recently made changes to their positions in the business. Polaris Financial Partners purchased a new stake in shares of Tenaris in the 3rd quarter valued at $26,000. Sequoia Financial Advisors LLC lifted its stake in Tenaris by 14.6% in the second quarter. Sequoia Financial Advisors LLC now owns 7,754 shares of the industrial products company's stock worth $430,000 after purchasing an additional 990 shares during the last quarter. Tidal Investments LLC lifted its stake in Tenaris by 17.2% in the second quarter. Tidal Investments LLC now owns 21,660 shares of the industrial products company's stock worth $1,202,000 after purchasing an additional 3,183 shares during the last quarter. Allworth Financial LP lifted its stake in Tenaris by 116.0% in the second quarter. Allworth Financial LP now owns 661 shares of the industrial products company's stock worth $37,000 after purchasing an additional 355 shares during the last quarter. Finally, Corient Private Wealth LP boosted its position in Tenaris by 24.3% during the second quarter. Corient Private Wealth LP now owns 18,328 shares of the industrial products company's stock valued at $1,017,000 after buying an additional 3,588 shares during the period. 10.45% of the stock is currently owned by institutional investors.

Tenaris Company Profile

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services. The company produces seamless and welded steel tubes used in oil and gas exploration and production, including casing, tubing and line pipe, as well as products for petrochemical, power generation, construction, automotive and other industrial applications.

In addition to manufacturing, Tenaris provides engineering, supply-chain management, pipe processing, logistics and field services designed to support customers throughout the life cycle of tubular products.

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