Piper Sandler Initiates Coverage on Tenaris (NYSE:TS)

Analysts at Piper Sandler assumed coverage on shares of Tenaris (NYSE:TS) in a research report issued on Thursday. The firm set an “overweight” rating and a $48.00 price target on the industrial products company’s stock. Piper Sandler’s price objective points to a potential upside of 29.07% from the company’s previous close.

A number of other research firms have also recently issued reports on TS. Stifel Nicolaus cut their target price on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, October 11th. StockNews.com upgraded Tenaris from a “hold” rating to a “buy” rating in a research report on Wednesday, November 27th. Finally, Jefferies Financial Group raised Tenaris from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $35.00 to $47.00 in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Tenaris currently has an average rating of “Moderate Buy” and a consensus price target of $42.75.

Tenaris Price Performance

Shares of NYSE:TS opened at $37.19 on Thursday. The business’s fifty day moving average price is $35.85 and its two-hundred day moving average price is $32.19. Tenaris has a fifty-two week low of $27.24 and a fifty-two week high of $40.72. The stock has a market capitalization of $21.62 billion, a price-to-earnings ratio of 8.10 and a beta of 1.46.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Raymond James & Associates boosted its holdings in Tenaris by 1.1% in the second quarter. Raymond James & Associates now owns 145,228 shares of the industrial products company’s stock valued at $4,432,000 after acquiring an additional 1,537 shares during the last quarter. Capital Insight Partners LLC boosted its stake in shares of Tenaris by 5.3% in the 2nd quarter. Capital Insight Partners LLC now owns 101,098 shares of the industrial products company’s stock valued at $3,086,000 after purchasing an additional 5,075 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Tenaris in the 2nd quarter valued at about $32,000. Signaturefd LLC grew its position in shares of Tenaris by 4.7% during the 2nd quarter. Signaturefd LLC now owns 16,338 shares of the industrial products company’s stock worth $499,000 after buying an additional 732 shares during the period. Finally, Commonwealth Equity Services LLC raised its stake in shares of Tenaris by 9.3% during the second quarter. Commonwealth Equity Services LLC now owns 14,918 shares of the industrial products company’s stock worth $455,000 after buying an additional 1,271 shares during the last quarter. 10.45% of the stock is currently owned by institutional investors.

Tenaris Company Profile

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.