Tenaris (NYSE:TS) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Tenaris (NYSE:TS) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

A number of other research firms have also weighed in on TS. Piper Sandler raised their price target on shares of Tenaris from $56.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, May 18th. Weiss Ratings cut shares of Tenaris from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, July 10th. Morgan Stanley upgraded Tenaris from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $53.00 to $65.00 in a research note on Wednesday. Barclays lifted their target price on Tenaris to $82.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Finally, Zacks Research upgraded Tenaris from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.12.

Tenaris Stock Performance

Tenaris stock opened at $57.16 on Friday. The firm has a market capitalization of $30.64 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 1.39 and a beta of 0.84. Tenaris has a one year low of $33.65 and a one year high of $64.60. The stock’s 50 day moving average price is $59.25 and its 200 day moving average price is $54.43.

Tenaris (NYSE:TS) last issued its quarterly earnings data on Thursday, May 7th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.20. Tenaris had a net margin of 16.17% and a return on equity of 11.53%. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter last year, the company earned $0.94 earnings per share. Tenaris’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, analysts forecast that Tenaris will post 3.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. AQR Capital Management LLC raised its position in shares of Tenaris by 14.3% during the 1st quarter. AQR Capital Management LLC now owns 23,662 shares of the industrial products company’s stock valued at $925,000 after acquiring an additional 2,969 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in Tenaris in the first quarter worth $203,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in Tenaris during the first quarter valued at $5,458,000. JPMorgan Chase & Co. raised its holdings in shares of Tenaris by 77.4% during the second quarter. JPMorgan Chase & Co. now owns 16,877 shares of the industrial products company’s stock worth $631,000 after purchasing an additional 7,363 shares during the period. Finally, Rhumbline Advisers lifted its position in shares of Tenaris by 4.2% in the 2nd quarter. Rhumbline Advisers now owns 8,387 shares of the industrial products company’s stock worth $314,000 after buying an additional 338 shares during the last quarter. Institutional investors own 10.45% of the company’s stock.

Tenaris Company Profile

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.