Tenneco Inc (TEN) Given Average Rating of “Hold” by Analysts

Shares of Tenneco Inc (NYSE:TEN) have been assigned an average recommendation of “Hold” from the thirteen ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $67.00.

TEN has been the subject of a number of analyst reports. KeyCorp restated a “buy” rating and set a $80.00 price objective (up from $73.00) on shares of Tenneco in a research note on Monday, October 30th. They noted that the move was a valuation call. Royal Bank of Canada reaffirmed a “hold” rating and set a $64.00 price target on shares of Tenneco in a report on Wednesday, December 20th. Finally, Wells Fargo & Co dropped their price target on shares of Tenneco from $68.00 to $64.00 and set a “market perform” rating on the stock in a report on Monday, October 30th.

In related news, insider Peng Guo sold 5,558 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $57.69, for a total value of $320,641.02. Following the sale, the insider now owns 87,957 shares in the company, valued at $5,074,239.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.70% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. State Board of Administration of Florida Retirement System lifted its stake in Tenneco by 8.0% in the second quarter. State Board of Administration of Florida Retirement System now owns 35,297 shares of the auto parts company’s stock worth $2,041,000 after acquiring an additional 2,617 shares during the period. LSV Asset Management lifted its stake in Tenneco by 20.5% in the second quarter. LSV Asset Management now owns 368,054 shares of the auto parts company’s stock worth $21,284,000 after acquiring an additional 62,700 shares during the period. Engineers Gate Manager LP lifted its stake in Tenneco by 413.8% in the second quarter. Engineers Gate Manager LP now owns 20,550 shares of the auto parts company’s stock worth $1,188,000 after acquiring an additional 16,550 shares during the period. Franklin Resources Inc. lifted its stake in Tenneco by 7.6% in the second quarter. Franklin Resources Inc. now owns 282,738 shares of the auto parts company’s stock worth $16,351,000 after acquiring an additional 20,082 shares during the period. Finally, AJO LP lifted its stake in Tenneco by 396.8% in the second quarter. AJO LP now owns 1,875,899 shares of the auto parts company’s stock worth $108,483,000 after acquiring an additional 1,498,310 shares during the period. 94.42% of the stock is owned by hedge funds and other institutional investors.

Tenneco (NYSE:TEN) traded up $2.00 during trading hours on Monday, hitting $63.33. 537,800 shares of the stock traded hands, compared to its average volume of 433,100. Tenneco has a 12-month low of $51.54 and a 12-month high of $70.96. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.93 and a current ratio of 1.33. The stock has a market cap of $3,250.00, a PE ratio of 19.67, a price-to-earnings-growth ratio of 0.69 and a beta of 1.92.

Tenneco (NYSE:TEN) last issued its quarterly earnings results on Friday, October 27th. The auto parts company reported $1.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.08. The company had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.24 billion. Tenneco had a net margin of 1.97% and a return on equity of 54.13%. Tenneco’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the business earned $1.53 EPS. equities research analysts expect that Tenneco will post 6.72 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 20th. Investors of record on Monday, December 4th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend was Friday, December 1st. Tenneco’s dividend payout ratio is presently 31.06%.

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Tenneco Company Profile

Tenneco Inc is a producer of clean air and ride performance products and systems for light vehicle, commercial truck, off-highway and other vehicle applications. The Company designs, manufactures and distributes highly engineered products for both original equipment vehicle manufacturers (OEMs) and the repair and replacement markets, or aftermarket, across the world.

Analyst Recommendations for Tenneco (NYSE:TEN)

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