Morgan Stanley Forecasts Strong Price Appreciation for Tenaris (NYSE:TS) Stock

Tenaris (NYSE:TS) had its target price upped by research analysts at Morgan Stanley from $38.00 to $40.00 in a report issued on Monday,Benzinga reports. The firm currently has an “underweight” rating on the industrial products company’s stock. Morgan Stanley’s target price suggests a potential downside of 24.81% from the stock’s previous close.

Several other analysts also recently weighed in on the stock. Stifel Nicolaus lifted their price target on shares of Tenaris from $45.00 to $57.00 and gave the company a “buy” rating in a research note on Monday. Piper Sandler reaffirmed a “neutral” rating on shares of Tenaris in a research report on Thursday, December 18th. Wall Street Zen downgraded Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Barclays restated an “overweight” rating and set a $56.00 price target on shares of Tenaris in a research note on Monday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tenaris in a research note on Monday, December 29th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Tenaris currently has an average rating of “Hold” and a consensus price target of $49.43.

Tenaris Price Performance

Shares of NYSE:TS traded up $0.94 on Monday, hitting $53.20. 423,988 shares of the company’s stock were exchanged, compared to its average volume of 1,498,870. The stock has a market capitalization of $30.93 billion, a price-to-earnings ratio of 14.58, a price-to-earnings-growth ratio of 13.66 and a beta of 0.95. Tenaris has a 12 month low of $30.06 and a 12 month high of $54.60. The business’s 50 day simple moving average is $43.04 and its two-hundred day simple moving average is $39.32.

Tenaris (NYSE:TS) last posted its quarterly earnings results on Wednesday, February 18th. The industrial products company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.76 by $0.11. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.95 billion. Tenaris had a net margin of 16.13% and a return on equity of 11.32%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.94 EPS. Equities analysts forecast that Tenaris will post 3.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Tenaris

A number of large investors have recently made changes to their positions in the business. AQR Capital Management LLC boosted its position in shares of Tenaris by 14.3% in the 1st quarter. AQR Capital Management LLC now owns 23,662 shares of the industrial products company’s stock worth $925,000 after purchasing an additional 2,969 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Tenaris in the first quarter valued at about $203,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in Tenaris in the first quarter worth about $5,458,000. Ashton Thomas Private Wealth LLC grew its stake in shares of Tenaris by 3.8% during the second quarter. Ashton Thomas Private Wealth LLC now owns 29,511 shares of the industrial products company’s stock worth $1,104,000 after acquiring an additional 1,080 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its holdings in shares of Tenaris by 1,547.3% during the second quarter. Hantz Financial Services Inc. now owns 3,624 shares of the industrial products company’s stock valued at $136,000 after acquiring an additional 3,404 shares in the last quarter. 10.45% of the stock is owned by institutional investors and hedge funds.

About Tenaris

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value‑added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.