Tenneco (TEN) Earns Buy Rating from Barclays

Barclays reiterated their buy rating on shares of Tenneco (NYSE:TEN) in a report issued on Tuesday, January 9th. They currently have a $74.00 price objective on the auto parts company’s stock.

TEN has been the topic of a number of other research reports. Royal Bank of Canada reaffirmed a hold rating and issued a $64.00 price target on shares of Tenneco in a report on Wednesday, December 20th. Wells Fargo & Co lowered their price target on shares of Tenneco from $68.00 to $64.00 and set a market perform rating on the stock in a report on Monday, October 30th. Finally, KeyCorp reissued a buy rating and set a $80.00 target price (up previously from $73.00) on shares of Tenneco in a report on Monday, October 30th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $67.30.

Tenneco (NYSE TEN) traded down $1.53 during trading on Tuesday, hitting $60.42. 486,000 shares of the company’s stock traded hands, compared to its average volume of 405,608. Tenneco has a 1 year low of $51.54 and a 1 year high of $70.96. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.93 and a current ratio of 1.33. The company has a market cap of $3,195.91, a PE ratio of 18.25, a P/E/G ratio of 0.67 and a beta of 1.92.

Tenneco (NYSE:TEN) last posted its earnings results on Friday, October 27th. The auto parts company reported $1.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.08. The firm had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Tenneco had a net margin of 1.97% and a return on equity of 54.13%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.53 EPS. sell-side analysts expect that Tenneco will post 6.72 EPS for the current fiscal year.

In other news, insider Peng Guo sold 5,558 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $57.69, for a total transaction of $320,641.02. Following the completion of the transaction, the insider now directly owns 87,957 shares in the company, valued at approximately $5,074,239.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.70% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in TEN. Schwab Charles Investment Management Inc. boosted its position in Tenneco by 9.7% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 362,135 shares of the auto parts company’s stock valued at $21,200,000 after buying an additional 31,924 shares during the period. Bank of Montreal Can boosted its position in Tenneco by 11.2% during the fourth quarter. Bank of Montreal Can now owns 129,564 shares of the auto parts company’s stock valued at $7,585,000 after buying an additional 13,079 shares during the period. Benson Investment Management Company Inc. purchased a new stake in Tenneco during the fourth quarter valued at about $1,937,000. Sit Investment Associates Inc. boosted its position in Tenneco by 54.9% during the fourth quarter. Sit Investment Associates Inc. now owns 26,875 shares of the auto parts company’s stock valued at $1,573,000 after buying an additional 9,525 shares during the period. Finally, DnB Asset Management AS raised its stake in shares of Tenneco by 5.2% during the fourth quarter. DnB Asset Management AS now owns 1,213,244 shares of the auto parts company’s stock valued at $71,023,000 after acquiring an additional 59,569 shares during the last quarter. Institutional investors own 94.82% of the company’s stock.

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About Tenneco

Tenneco Inc is a producer of clean air and ride performance products and systems for light vehicle, commercial truck, off-highway and other vehicle applications. The Company designs, manufactures and distributes highly engineered products for both original equipment vehicle manufacturers (OEMs) and the repair and replacement markets, or aftermarket, across the world.

Analyst Recommendations for Tenneco (NYSE:TEN)

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