Tenaris (NYSE:TS) Stock Price Expected to Rise, Piper Sandler Analyst Says

Tenaris (NYSE:TS) had its price objective boosted by stock analysts at Piper Sandler from $48.00 to $50.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. Piper Sandler’s price target would suggest a potential upside of 34.24% from the company’s previous close.

Several other research firms have also recently issued reports on TS. Bank of America cut shares of Tenaris from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 29th. StockNews.com raised shares of Tenaris from a “hold” rating to a “buy” rating in a research note on Thursday, February 20th. Stifel Nicolaus increased their target price on shares of Tenaris from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Friday. Jefferies Financial Group raised Tenaris from a “hold” rating to a “buy” rating and raised their price objective for the stock from $35.00 to $47.00 in a research note on Monday, December 9th. Finally, Barclays increased their price objective on Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five 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 target price of $46.00.

Tenaris Stock Down 0.9 %

Shares of Tenaris stock traded down $0.35 on Tuesday, hitting $37.25. The company’s stock had a trading volume of 107,690 shares, compared to its average volume of 1,461,224. The company has a market capitalization of $21.65 billion, a P/E ratio of 10.32 and a beta of 1.44. The firm has a fifty day moving average price of $38.31 and a 200-day moving average price of $34.64. Tenaris has a 52-week low of $27.24 and a 52-week high of $40.72.

Tenaris (NYSE:TS) last issued its quarterly earnings data 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 firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.71 billion. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. As a group, analysts expect that Tenaris will post 3.14 earnings per share for the current year.

Institutional Investors Weigh In On Tenaris

A number of hedge funds and other institutional investors have recently bought and sold shares of TS. FMR LLC raised its holdings in shares of Tenaris by 21.3% in the third quarter. FMR LLC now owns 3,503,644 shares of the industrial products company’s stock valued at $111,381,000 after buying an additional 614,884 shares during the last quarter. Millennium Management LLC lifted its position in shares of Tenaris by 38.2% during the fourth quarter. Millennium Management LLC now owns 2,816,728 shares of the industrial products company’s stock worth $106,444,000 after purchasing an additional 778,021 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Tenaris by 187.4% during the third quarter. Wellington Management Group LLP now owns 2,546,184 shares of the industrial products company’s stock valued at $80,943,000 after purchasing an additional 1,660,300 shares during the last quarter. Encompass Capital Advisors LLC bought a new position in Tenaris in the 4th quarter worth approximately $41,569,000. Finally, Point72 Asset Management L.P. lifted its holdings in Tenaris by 102.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,050,552 shares of the industrial products company’s stock worth $33,397,000 after buying an additional 531,860 shares in the last quarter. 10.45% of the stock is owned by institutional investors and hedge funds.

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.