Tenaris (NYSE:TS) Price Target Raised to $67.00

Tenaris (NYSE:TS) had its price target raised by investment analysts at Piper Sandler from $60.00 to $67.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. Piper Sandler‘s target price would suggest a potential upside of 11.80% from the stock’s current price.

Several other equities analysts have also recently weighed in on the company. TD Cowen lifted their price objective on Tenaris from $67.00 to $68.00 and gave the company a “buy” rating in a report on Friday, August 7th. Weiss Ratings cut shares of Tenaris from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, October 6th. Barclays upped their price target on shares of Tenaris from $80.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday. Zacks Research lowered shares of Tenaris from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Finally, Wall Street Zen lowered Tenaris from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $63.46.

Tenaris Stock Up 1.8%

Shares of TS traded up $1.08 during trading hours on Monday, hitting $59.93. The company had a trading volume of 300,745 shares, compared to its average volume of 1,510,153. The firm has a market cap of $30.25 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 1.65 and a beta of 0.89. The business has a fifty day moving average of $57.11 and a 200-day moving average of $56.34. Tenaris has a 12 month low of $37.69 and a 12 month high of $64.60.

Tenaris (NYSE:TS) last announced its earnings results on Wednesday, November 4th. The industrial products company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.81 by $0.20. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.03 billion. Tenaris had a net margin of 16.24% and a return on equity of 11.53%. Tenaris’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.85 EPS. On average, equities analysts expect that Tenaris will post 3.80 EPS for the current fiscal year.

Institutional Trading of Tenaris

Institutional investors have recently modified their holdings of the business. Lido Advisors LLC increased its holdings in Tenaris by 1.6% in the third quarter. Lido Advisors LLC now owns 11,512 shares of the industrial products company’s stock valued at $635,000 after purchasing an additional 184 shares during the period. Lazard Asset Management LLC raised its position in Tenaris by 0.5% during the 1st quarter. Lazard Asset Management LLC now owns 58,252 shares of the industrial products company’s stock worth $3,389,000 after purchasing an additional 284 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Tenaris by 6.3% during the 2nd quarter. Versant Capital Management Inc now owns 5,580 shares of the industrial products company’s stock worth $310,000 after buying an additional 332 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in Tenaris by 1.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 24,383 shares of the industrial products company’s stock worth $1,353,000 after buying an additional 341 shares during the period. Finally, Allworth Financial LP lifted its holdings in Tenaris by 116.0% during the 2nd quarter. Allworth Financial LP now owns 661 shares of the industrial products company’s stock worth $37,000 after buying an additional 355 shares during the period. Institutional investors own 10.45% of the company’s stock.

Tenaris Company Profile

Tenaris SA is a global manufacturer and supplier of steel pipe products and related services, with a primary focus on the energy industry. Its products include casing and tubing used in oil and gas wells, line pipe for transporting fluids, and other tubular products for industrial applications.

The company also provides services such as pipe processing, engineering support, logistics, and assistance at drilling sites. Tenaris serves customers across a broad range of international markets, including the Americas, Europe, the Middle East, Africa, and Asia.

Tenaris was established in 2001, bringing together several established pipe manufacturers, including Argentina’s Siderca, Mexico’s Tamsa, and Italy’s Dalmine.