COKER & PALMER Upgrades Tenaris (NYSE:TS) to “Sector Perform”

Tenaris (NYSE:TS) was upgraded by analysts at COKER & PALMER from a “sector underperform” rating to a “sector perform” rating in a research note issued to investors on Tuesday, Zacks.com reports.

A number of other research analysts have also recently commented on the company. The Goldman Sachs Group cut Tenaris from a “buy” rating to a “neutral” rating and set a $14.50 price target on the stock. in a research report on Monday, January 25th. Barclays upgraded Tenaris from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $15.00 to $25.00 in a research report on Tuesday, March 16th. Piper Sandler upgraded Tenaris from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $16.25 to $23.00 in a research report on Thursday, February 25th. Cowen lifted their target price on Tenaris from $22.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, February 26th. Finally, Zacks Investment Research upgraded Tenaris from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Wednesday, March 10th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. Tenaris has a consensus rating of “Hold” and an average price target of $19.16.

Shares of Tenaris stock opened at $22.65 on Tuesday. The business has a fifty day simple moving average of $21.70 and a two-hundred day simple moving average of $15.99. Tenaris has a 1 year low of $8.86 and a 1 year high of $23.81. The company has a market capitalization of $13.37 billion, a price-to-earnings ratio of -22.65 and a beta of 1.88. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.55 and a quick ratio of 2.23.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Wednesday, February 24th. The industrial products company reported $0.18 earnings per share (EPS) for the quarter. Tenaris had a positive return on equity of 1.44% and a negative net margin of 10.23%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.07 billion. As a group, equities analysts anticipate that Tenaris will post -0.08 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp boosted its stake in shares of Tenaris by 8.2% during the fourth quarter. Van ECK Associates Corp now owns 2,477,767 shares of the industrial products company’s stock valued at $39,520,000 after purchasing an additional 187,085 shares in the last quarter. Westpac Banking Corp lifted its stake in shares of Tenaris by 7.7% in the fourth quarter. Westpac Banking Corp now owns 158,057 shares of the industrial products company’s stock worth $2,521,000 after acquiring an additional 11,244 shares during the period. Seven Eight Capital LP lifted its stake in shares of Tenaris by 141.9% in the fourth quarter. Seven Eight Capital LP now owns 100,400 shares of the industrial products company’s stock worth $1,601,000 after acquiring an additional 58,900 shares during the period. Profund Advisors LLC lifted its stake in shares of Tenaris by 44.5% in the fourth quarter. Profund Advisors LLC now owns 25,052 shares of the industrial products company’s stock worth $400,000 after acquiring an additional 7,716 shares during the period. Finally, Wetherby Asset Management Inc. lifted its stake in shares of Tenaris by 29.9% in the fourth quarter. Wetherby Asset Management Inc. now owns 16,307 shares of the industrial products company’s stock worth $260,000 after acquiring an additional 3,758 shares during the period. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

Tenaris Company Profile

Tenaris SA, through its subsidiaries, produces and sells seamless and welded steel tubular products; and provides related services for the oil and gas industry, and other industrial applications. The company offers products for oil and gas drilling operations, such as casing and tubing products, premium connections, drill pipes, coiled tubing, hot-rolled and cold-drawn seamless tubes, perforating guns, tubular and non-tubular accessories, and devices.

Featured Article: What is a Special Dividend?

Analyst Recommendations for Tenaris (NYSE:TS)

Receive News & Ratings for Tenaris Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenaris and related companies with MarketBeat.com's FREE daily email newsletter.