Tenneco Inc. (TEN) Given Average Recommendation of “Hold” by Brokerages
Shares of Tenneco Inc. (NYSE:TEN) have been given a consensus recommendation of “Hold” by the thirteen ratings firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $67.70.
Several research firms have commented on TEN. Jefferies Group LLC reissued a “hold” rating and set a $62.00 target price (down previously from $67.00) on shares of Tenneco in a research report on Monday, July 31st. BidaskClub raised shares of Tenneco from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. KeyCorp reissued a “buy” rating and set a $80.00 target price (up previously from $73.00) on shares of Tenneco in a research report on Monday, October 30th. They noted that the move was a valuation call. Finally, Wells Fargo & Company dropped their target price on shares of Tenneco from $68.00 to $64.00 and set a “market perform” rating on the stock in a research report on Monday, October 30th.
In other news, insider James D. Harrington sold 13,765 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $56.87, for a total transaction of $782,815.55. Following the completion of the sale, the insider now owns 1,207 shares in the company, valued at approximately $68,642.09. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Gregg M. Sherrill sold 27,443 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $54.67, for a total transaction of $1,500,308.81. Following the sale, the insider now owns 229,043 shares of the company’s stock, valued at approximately $12,521,780.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 82,261 shares of company stock valued at $4,654,484. 2.70% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its stake in Tenneco by 13.3% in the 2nd quarter. BlackRock Inc. now owns 4,826,451 shares of the auto parts company’s stock valued at $279,112,000 after buying an additional 567,330 shares in the last quarter. AJO LP grew its stake in Tenneco by 396.8% in the 2nd quarter. AJO LP now owns 1,875,899 shares of the auto parts company’s stock valued at $108,483,000 after buying an additional 1,498,310 shares in the last quarter. Macquarie Group Ltd. grew its stake in Tenneco by 9.6% in the 3rd quarter. Macquarie Group Ltd. now owns 1,604,158 shares of the auto parts company’s stock valued at $97,325,000 after buying an additional 139,898 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Tenneco by 1.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,293,032 shares of the auto parts company’s stock valued at $78,449,000 after buying an additional 12,930 shares in the last quarter. Finally, State Street Corp grew its stake in Tenneco by 1.1% in the 2nd quarter. State Street Corp now owns 1,104,977 shares of the auto parts company’s stock valued at $63,899,000 after buying an additional 12,291 shares in the last quarter. Institutional investors own 93.48% of the company’s stock.
Shares of Tenneco (NYSE:TEN) traded up $0.07 during midday trading on Friday, reaching $56.98. 91,647 shares of the company traded hands, compared to its average volume of 561,076. Tenneco has a twelve month low of $51.54 and a twelve month high of $70.96. The company has a market cap of $2,935.91, a PE ratio of 8.41, a price-to-earnings-growth ratio of 0.67 and a beta of 1.92. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.93 and a current ratio of 1.33.
Tenneco (NYSE:TEN) last announced its quarterly earnings results on Friday, October 27th. The auto parts company reported $1.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.08. Tenneco had a net margin of 1.97% and a return on equity of 54.13%. The business had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter last year, the firm earned $1.53 EPS. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. equities analysts predict that Tenneco will post 6.71 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Monday, December 4th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 1st. This represents a $1.00 annualized dividend and a dividend yield of 1.76%. Tenneco’s payout ratio is currently 30.21%.
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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.
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