Tenaris (NYSE:TS) Price Target Raised to $43.00 at Stifel Nicolaus

Tenaris (NYSE:TS) had its price objective raised by equities research analysts at Stifel Nicolaus from $40.00 to $43.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 11.90% from the stock’s previous close.

Several other brokerages have also recently issued reports on TS. Bank of America downgraded Tenaris from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 29th. StockNews.com upgraded shares of Tenaris from a “hold” rating to a “buy” rating in a research report on Thursday. Piper Sandler assumed coverage on shares of Tenaris in a report on Thursday, December 19th. They issued an “overweight” rating and a $48.00 price target on the stock. Kepler Capital Markets downgraded shares of Tenaris from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Finally, Jefferies Financial Group upgraded Tenaris from a “hold” rating to a “buy” rating and raised their price objective for the company from $35.00 to $47.00 in a research report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $44.50.

Tenaris Stock Down 0.5 %

Shares of NYSE TS opened at $38.43 on Friday. The firm’s 50-day moving average price is $38.33 and its 200-day moving average price is $34.41. Tenaris has a 52-week low of $27.24 and a 52-week high of $40.72. The company has a market cap of $22.34 billion, a PE ratio of 10.64 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 (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.31. The company had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. As a group, equities research analysts anticipate that Tenaris will post 3.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc purchased a new stake in Tenaris during the fourth quarter valued at approximately $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Tenaris during the 3rd quarter worth about $33,000. GAMMA Investing LLC raised its stake in shares of Tenaris by 140.2% during the 4th quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock valued at $35,000 after buying an additional 548 shares during the last quarter. Covestor Ltd acquired a new position in shares of Tenaris in the 3rd quarter valued at about $40,000. Finally, EverSource Wealth Advisors LLC boosted 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 buying an additional 478 shares during the last quarter. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

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.