Tenaris S.A. (TS) Shares Gap Up to $26.58
Tenaris S.A. (NYSE:TS)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $25.19, but opened at $26.58. Tenaris shares last traded at $27.84, with a volume of 4,036,183 shares traded.
Several equities analysts have recently weighed in on TS shares. Loop Capital upgraded shares of Tenaris from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Wednesday, May 17th. BidaskClub upgraded shares of Tenaris from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Zacks Investment Research upgraded shares of Tenaris from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Tuesday, July 18th. Scotiabank set a $40.00 target price on shares of Tenaris and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Finally, Berenberg Bank reiterated a “hold” rating and issued a $30.00 target price on shares of Tenaris in a research note on Monday, August 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $35.35.
The company’s 50-day moving average is $28.76 and its 200 day moving average is $31.06. The stock has a market capitalization of $16.63 billion, a P/E ratio of 50.32 and a beta of 0.64.
Hedge funds have recently bought and sold shares of the stock. Timber Hill LLC purchased a new position in shares of Tenaris in the first quarter valued at $205,000. Marathon Trading Investment Management LLC purchased a new position in Tenaris during the first quarter worth $205,000. JPMorgan Chase & Co. boosted its stake in Tenaris by 1,187.5% during the first quarter. JPMorgan Chase & Co. now owns 6,502 shares of the industrial products company’s stock worth $222,000 after buying an additional 5,997 shares during the period. D.A. Davidson & CO. boosted its stake in Tenaris by 15.0% during the second quarter. D.A. Davidson & CO. now owns 7,742 shares of the industrial products company’s stock worth $241,000 after buying an additional 1,011 shares during the period. Finally, Paloma Partners Management Co purchased a new position in Tenaris during the first quarter worth $251,000. 15.98% of the stock is owned by hedge funds and other institutional investors.
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Tenaris SA is a holding company, which is a steel producer with production facilities in Mexico, Argentina, Colombia, United States and Guatemala. The Company supplies round steel bars and flat steel products for its pipes business. It operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the oil and gas industry, principally oil country tubular goods (OCTG) used in drilling operations, and for other industrial applications with production processes that include in the transformation of steel into tubular products.
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