Tenaris (NYSE:TS) Stock Rating Lowered by StockNews.com

Tenaris (NYSE:TS) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other equities research analysts have also commented on the stock. Stifel Nicolaus increased their price objective on shares of Tenaris from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Jefferies Financial Group raised Tenaris from a “hold” rating to a “buy” rating and increased their price target for the company from $35.00 to $47.00 in a research report on Monday, December 9th. Kepler Capital Markets lowered Tenaris from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Piper Sandler upped their price objective on Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Finally, Bank of America cut Tenaris from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $46.00.

Tenaris Trading Down 1.4 %

Shares of Tenaris stock opened at $39.36 on Friday. The company has a market capitalization of $22.88 billion, a P/E ratio of 10.90 and a beta of 1.43. The stock has a fifty day simple moving average of $38.27 and a 200 day simple moving average of $35.89. Tenaris has a 12-month low of $27.24 and a 12-month high of $40.73.

Tenaris (NYSE:TS) last posted its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.31. The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.71 billion. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. On average, analysts predict that Tenaris will post 3.14 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TS. Crossmark Global Holdings Inc. raised its stake in Tenaris by 61.5% in the 4th quarter. Crossmark Global Holdings Inc. now owns 35,111 shares of the industrial products company’s stock valued at $1,327,000 after acquiring an additional 13,374 shares during the period. GAMMA Investing LLC raised its position in shares of Tenaris by 140.2% in the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 548 shares during the period. ABC Arbitrage SA bought a new stake in shares of Tenaris in the fourth quarter valued at approximately $31,581,000. Proficio Capital Partners LLC purchased a new stake in shares of Tenaris during the 4th quarter valued at approximately $968,000. Finally, Smartleaf Asset Management LLC boosted its holdings in Tenaris by 291.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,725 shares of the industrial products company’s stock worth $65,000 after buying an additional 1,284 shares during the period. Institutional investors own 10.45% of the company’s stock.

Tenaris Company Profile

Tenaris SA, together with its subsidiaries, produces and sells seamless and welded steel tubular products and related services for the oil and gas industry, and other industrial applications. The company offers steel casings, tubing products, mechanical and structural pipes, line pipes, cold-drawn pipes, and premium joints and couplings; and coiled tubing products for oil and gas drilling and workovers, and subsea pipelines.