Tenneco Sees Unusually Large Options Volume (TEN)
Tenneco Inc (NYSE:TEN) was the recipient of unusually large options trading activity on Wednesday. Traders bought 1,021 call options on the stock. This is an increase of approximately 1,101% compared to the average volume of 85 call options.
Several equities analysts have commented on TEN shares. Royal Bank of Canada reissued a “hold” rating and set a $64.00 target price on shares of Tenneco in a research report on Wednesday, December 20th. 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. Wells Fargo & Co 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. Finally, Barclays reissued a “buy” rating and set a $74.00 target price on shares of Tenneco in a research report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $67.30.
In other Tenneco news, insider Peng Guo sold 5,558 shares of Tenneco stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $57.69, for a total transaction of $320,641.02. Following the transaction, the insider now owns 87,957 shares of the company’s stock, valued at approximately $5,074,239.33. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.70% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. Advisory Services Network LLC increased its stake in shares of Tenneco by 107.4% during the 2nd quarter. Advisory Services Network LLC now owns 2,184 shares of the auto parts company’s stock worth $126,000 after purchasing an additional 1,131 shares during the last quarter. Advisor Group Inc. increased its stake in shares of Tenneco by 83.1% during the 3rd quarter. Advisor Group Inc. now owns 2,364 shares of the auto parts company’s stock worth $143,000 after purchasing an additional 1,073 shares during the last quarter. Fortaleza Asset Management Inc. increased its stake in shares of Tenneco by 122.5% during the 3rd quarter. Fortaleza Asset Management Inc. now owns 2,670 shares of the auto parts company’s stock worth $162,000 after purchasing an additional 1,470 shares during the last quarter. Boothbay Fund Management LLC purchased a new stake in shares of Tenneco during the 3rd quarter worth approximately $223,000. Finally, Commonwealth Equity Services Inc purchased a new position in Tenneco in the 3rd quarter valued at approximately $238,000. Institutional investors own 94.82% of the company’s stock.
Shares of Tenneco (TEN) opened at $60.53 on Friday. 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 has a one year low of $51.54 and a one year high of $70.96. The stock has a market cap of $3,195.91, a P/E ratio of 18.29, a PEG ratio of 0.67 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. Tenneco had a net margin of 1.97% and a return on equity of 54.13%. The company had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the business posted $1.53 EPS. Tenneco’s quarterly revenue was up 8.5% compared to the same quarter last year. research analysts expect that Tenneco will post 6.72 earnings per share for the current year.
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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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