Tenaris (NYSE:TS) Price Target Raised to $50.00 at Barclays

Tenaris (NYSE:TS) had its target price boosted by Barclays from $48.00 to $50.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. Barclays‘s target price suggests a potential upside of 32.57% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. StockNews.com upgraded Tenaris from a “hold” rating to a “buy” rating in a report on Thursday. Bank of America lowered shares of Tenaris from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 29th. Kepler Capital Markets lowered shares of Tenaris from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Jefferies Financial Group upgraded shares of Tenaris from a “hold” rating to a “buy” rating and upped their price objective for the stock from $35.00 to $47.00 in a report on Monday, December 9th. Finally, Piper Sandler initiated coverage on Tenaris in a report on Thursday, December 19th. They set an “overweight” rating and a $48.00 target price on the stock. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $45.60.

Tenaris Trading Down 2.3 %

NYSE TS opened at $37.72 on Monday. Tenaris has a 1-year low of $27.24 and a 1-year high of $40.72. The firm’s fifty day simple moving average is $38.31 and its 200-day simple moving average is $34.57. The company has a market capitalization of $21.93 billion, a PE ratio of 10.45 and a beta of 1.44.

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

Institutional Investors Weigh In On Tenaris

Several hedge funds and other institutional investors have recently made changes to their positions in TS. Versant Capital Management Inc bought a new stake in Tenaris during the 4th quarter valued at approximately $28,000. GAMMA Investing LLC lifted its holdings in shares of Tenaris by 140.2% during the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock worth $35,000 after buying an additional 548 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Tenaris in the third quarter valued at approximately $33,000. EverSource Wealth Advisors LLC grew its stake in shares of Tenaris by 78.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 478 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in Tenaris during the fourth quarter worth $42,000. 10.45% of the stock is owned by institutional investors and hedge funds.

About Tenaris

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.