Tenaris (NYSE:TS) Stock Crosses Below 200 Day Moving Average – Time to Sell?

Tenaris S.A. (NYSE:TS)’s stock price passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $56.18 and traded as low as $55.33. Tenaris shares last traded at $55.8710, with a volume of 1,424,286 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TS shares. Zacks Research cut Tenaris from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Wall Street Zen lowered Tenaris from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Bank of America raised their target price on Tenaris from $66.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, October 5th. Barclays lowered their target price on Tenaris from $82.00 to $80.00 and set an “overweight” rating on the stock in a research report on Monday, August 10th. Finally, Morgan Stanley lifted their target price on Tenaris from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 14th. Five investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Tenaris presently has an average rating of “Hold” and a consensus target price of $61.59.

Tenaris Price Performance

The firm’s fifty day moving average is $56.97 and its two-hundred day moving average is $56.18. The firm has a market cap of $29.95 billion, a price-to-earnings ratio of 14.94, a P/E/G ratio of 1.64 and a beta of 0.89.

Tenaris (NYSE:TS) last released its earnings results on Wednesday, November 4th. The industrial products company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.81 by $0.20. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.03 billion. Tenaris had a net margin of 15.88% and a return on equity of 11.14%. Tenaris’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the company earned $0.85 EPS. On average, equities analysts forecast that Tenaris S.A. will post 3.75 earnings per share for the current fiscal year.

Institutional Trading of Tenaris

A number of institutional investors have recently made changes to their positions in the stock. Lido Advisors LLC boosted its holdings in shares of Tenaris by 1.6% in the third quarter. Lido Advisors LLC now owns 11,512 shares of the industrial products company’s stock valued at $635,000 after acquiring an additional 184 shares in the last quarter. Lazard Asset Management LLC raised its holdings in Tenaris by 0.5% during the first quarter. Lazard Asset Management LLC now owns 58,252 shares of the industrial products company’s stock worth $3,389,000 after purchasing an additional 284 shares in the last quarter. Versant Capital Management Inc raised its holdings in Tenaris by 6.3% during the second quarter. Versant Capital Management Inc now owns 5,580 shares of the industrial products company’s stock worth $310,000 after purchasing an additional 332 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Tenaris by 1.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 24,383 shares of the industrial products company’s stock worth $1,353,000 after purchasing an additional 341 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in Tenaris by 116.0% during the second quarter. Allworth Financial LP now owns 661 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 355 shares in the last quarter. 10.45% of the stock is owned by institutional investors and hedge funds.

Tenaris Company Profile

Tenaris SA (NYSE: TS) is a global manufacturer and supplier of steel tubular products and related services. The company primarily serves the energy industry, producing seamless and welded steel pipes used in oil and natural gas exploration, production, transportation and processing. Its offerings include oil country tubular goods, line pipe, premium connections, coiled tubing and sucker rods.

Tenaris also supplies pipes for industrial and mechanical applications, including products used in power generation, automotive manufacturing, construction and other specialized industries.