Tenaris S.A. (NYSE:TS) has earned an average recommendation of “Hold” from the thirteen brokerages that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $35.17.
Several equities research analysts recently weighed in on the company. Berenberg Bank reaffirmed a “hold” rating and set a $30.00 price target on shares of Tenaris in a report on Monday. Cowen and Company set a $28.00 price target on Tenaris and gave the stock a “hold” rating in a report on Friday, August 4th. BidaskClub downgraded Tenaris from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Scotiabank set a $40.00 price target on Tenaris and gave the stock a “buy” rating in a report on Thursday, August 3rd. Finally, Zacks Investment Research downgraded Tenaris from a “buy” rating to a “hold” rating in a report on Saturday, July 22nd.
Tenaris (NYSE TS) traded down 0.61% during trading on Friday, hitting $27.71. 1,612,766 shares of the stock traded hands. Tenaris has a 12 month low of $25.19 and a 12 month high of $37.21. The stock has a market cap of $16.36 billion, a P/E ratio of 49.48 and a beta of 0.63. The firm’s 50-day moving average is $30.80 and its 200-day moving average is $32.06.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marathon Trading Investment Management LLC acquired a new position in Tenaris during the first quarter valued at about $205,000. Timber Hill LLC purchased a new position in shares of Tenaris during the first quarter worth $205,000. JPMorgan Chase & Co. boosted its position in shares of Tenaris by 1,187.5% in the first quarter. JPMorgan Chase & Co. now owns 6,502 shares of the industrial products company’s stock worth $222,000 after buying an additional 5,997 shares in the last quarter. Paloma Partners Management Co purchased a new position in shares of Tenaris during the first quarter worth $251,000. Finally, D.A. Davidson & CO. boosted its position in shares of Tenaris by 15.0% in the second quarter. D.A. Davidson & CO. now owns 7,742 shares of the industrial products company’s stock worth $241,000 after buying an additional 1,011 shares in the last quarter. Hedge funds and other institutional investors own 18.67% of the company’s stock.
Tenaris SA is a holding company, which is a steel producer with production facilities in Mexico, Argentina, Colombia, United States and Guatemala. The Company supplies round steel bars and flat steel products for its pipes business. It operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the oil and gas industry, principally oil country tubular goods (OCTG) used in drilling operations, and for other industrial applications with production processes that include in the transformation of steel into tubular products.
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