Tenaris (NYSE:TS) Price Target Raised to $65.00

Tenaris (NYSE:TS) had its target price increased by Morgan Stanley from $62.00 to $65.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the industrial products company’s stock.

Other research analysts have also issued reports about the company. Wall Street Zen lowered Tenaris from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. TD Cowen increased their price objective on Tenaris from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Weiss Ratings downgraded Tenaris from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, October 6th. Barclays lifted their target price on Tenaris from $80.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, November 6th. Finally, Piper Sandler boosted their target price on shares of Tenaris from $60.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $63.84.

Tenaris Trading Up 1.6%

TS stock opened at $61.21 on Monday. The business’s 50-day moving average price is $57.40 and its two-hundred day moving average price is $56.58. The firm has a market cap of $30.90 billion, a PE ratio of 15.45, a P/E/G ratio of 1.41 and a beta of 0.89. Tenaris has a 1-year low of $37.69 and a 1-year high of $64.60.

Tenaris (NYSE:TS) last issued its earnings results on Wednesday, November 4th. The industrial products company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.20. The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.03 billion. Tenaris had a net margin of 16.24% and a return on equity of 11.53%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.85 earnings per share. On average, analysts forecast that Tenaris will post 4.16 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its stake in shares of Tenaris by 7.9% in the first quarter. Renaissance Technologies LLC now owns 3,199,744 shares of the industrial products company’s stock valued at $186,161,000 after buying an additional 235,400 shares during the period. Wellington Management Group LLP grew its position in Tenaris by 2.2% during the second quarter. Wellington Management Group LLP now owns 2,458,033 shares of the industrial products company’s stock worth $136,396,000 after buying an additional 52,999 shares in the last quarter. Kiltearn Partners LLP bought a new position in Tenaris during the 2nd quarter worth $9,642,000. Quantinno Capital Management LP increased its stake in Tenaris by 20.9% during the 1st quarter. Quantinno Capital Management LP now owns 146,347 shares of the industrial products company’s stock worth $8,514,000 after acquiring an additional 25,271 shares during the period. Finally, Ethic Inc. increased its stake in Tenaris by 40.5% during the 3rd quarter. Ethic Inc. now owns 139,055 shares of the industrial products company’s stock worth $7,673,000 after acquiring an additional 40,067 shares during the period. 10.45% of the stock is owned by institutional investors.

About Tenaris

Tenaris S.A. is a global manufacturer and supplier of steel pipe products and related services, with a primary focus on the energy industry. Its products include casing and tubing used in oil and gas wells, line pipe for transporting fluids, and other tubular products for industrial applications. The company also provides services such as pipe processing, engineering support, logistics, and assistance at drilling sites. Tenaris serves customers across a broad range of international markets, including the Americas, Europe, the Middle East, Africa, and Asia.