Tenaris S.A. (NYSE:TS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, July 18th. The brokerage currently has a $37.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 16.94% from the stock’s current price.
According to Zacks, “Tenaris Sa, a corporation organized in Luxembourg, is a leading manufacturer and supplier of seamless steel pipe products and associated services to the oil and gas, energy and other industries. Tenaris’s operating subsidiaries include eight established steel pipe manufacturers: AlgomaTubes, Confab, Dalmine, NKKTubes, Siat, Siderca, Tamsa and Tavsa. “
Other equities analysts have also recently issued reports about the company. Scotiabank set a $40.00 price target on Tenaris and gave the stock a “buy” rating in a research note on Saturday, April 1st. Loop Capital upgraded Tenaris from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Wednesday, May 17th. BidaskClub upgraded Tenaris from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Cowen and Company restated a “hold” rating and set a $30.00 price target on shares of Tenaris in a research report on Tuesday, July 11th. Finally, Simmons lifted their price objective on Tenaris from $40.50 to $41.00 and gave the company an “overweight” rating in a research note on Tuesday, April 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. Tenaris currently has a consensus rating of “Hold” and an average target price of $36.17.
Tenaris (TS) traded down 0.94% during trading on Tuesday, reaching $31.64. 1,724,548 shares of the company traded hands. The company’s 50-day moving average is $31.28 and its 200 day moving average is $32.53. The company has a market cap of $18.68 billion, a PE ratio of 77.17 and a beta of 0.63. Tenaris has a 12 month low of $25.19 and a 12 month high of $37.21.
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Several institutional investors have recently added to or reduced their stakes in TS. Wetherby Asset Management Inc. raised its position in Tenaris by 1.4% in the first quarter. Wetherby Asset Management Inc. now owns 10,555 shares of the industrial products company’s stock worth $360,000 after buying an additional 141 shares during the period. Bank of Montreal Can raised its position in shares of Tenaris by 0.7% in the second quarter. Bank of Montreal Can now owns 26,608 shares of the industrial products company’s stock worth $829,000 after buying an additional 176 shares during the last quarter. DnB Asset Management AS raised its position in shares of Tenaris by 1.9% in the second quarter. DnB Asset Management AS now owns 10,900 shares of the industrial products company’s stock worth $339,000 after buying an additional 200 shares during the last quarter. World Asset Management Inc raised its position in shares of Tenaris by 1.4% in the first quarter. World Asset Management Inc now owns 36,776 shares of the industrial products company’s stock worth $1,256,000 after buying an additional 501 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Tenaris by 1.8% in the first quarter. Ameriprise Financial Inc. now owns 33,999 shares of the industrial products company’s stock worth $1,161,000 after buying an additional 608 shares during the last quarter. 18.74% of the stock is owned by hedge funds and other institutional investors.
Tenaris Company Profile
Tenaris SA is a holding company, which is a steel producer with production facilities in Mexico, Argentina, Colombia, United States and Guatemala. The Company supplies round steel bars and flat steel products for its pipes business. It operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the oil and gas industry, principally oil country tubular goods (OCTG) used in drilling operations, and for other industrial applications with production processes that include in the transformation of steel into tubular products.
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