Stifel Nicolaus Issues Positive Forecast for Tenaris (NYSE:TS) Stock Price

Tenaris (NYSE:TS) had its price objective raised by Stifel Nicolaus from $57.00 to $67.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus‘s price objective indicates a potential upside of 9.91% from the stock’s previous close.

TS has been the topic of a number of other research reports. Wall Street Zen downgraded Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Morgan Stanley lifted their price objective on Tenaris from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday. Barclays upped their target price on Tenaris from $80.00 to $88.00 and gave the company an “overweight” rating in a research report on Friday, November 6th. TD Cowen upped their target price on Tenaris from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, Kepler Capital Markets raised Tenaris from a “hold” rating to a “strong-buy” rating in a report on Friday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $65.09.

Tenaris Stock Down 0.4%

NYSE TS opened at $60.96 on Friday. The firm has a 50-day moving average price of $57.50 and a two-hundred day moving average price of $56.66. Tenaris has a 12-month low of $37.69 and a 12-month high of $64.60. The company has a market capitalization of $30.77 billion, a P/E ratio of 15.69, a P/E/G ratio of 1.43 and a beta of 0.89.

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

Institutional Trading of Tenaris

A number of institutional investors and hedge funds have recently made changes to their positions in the company. HighTower Advisors LLC increased its stake in Tenaris by 5.3% in the third quarter. HighTower Advisors LLC now owns 9,912 shares of the industrial products company’s stock valued at $547,000 after acquiring an additional 499 shares during the last quarter. Lido Advisors LLC raised its position in Tenaris by 1.6% during the third quarter. Lido Advisors LLC now owns 11,512 shares of the industrial products company’s stock valued at $635,000 after purchasing an additional 184 shares in the last quarter. Keybank National Association OH bought a new stake in Tenaris during the third quarter worth $215,000. Leuthold Group LLC lifted its stake in Tenaris by 8.9% during the third quarter. Leuthold Group LLC now owns 87,491 shares of the industrial products company’s stock worth $4,828,000 after purchasing an additional 7,124 shares during the last quarter. Finally, Ethic Inc. lifted its stake in Tenaris by 40.5% during the third quarter. Ethic Inc. now owns 139,055 shares of the industrial products company’s stock worth $7,673,000 after purchasing an additional 40,067 shares during the last quarter. Institutional investors own 10.45% of the company’s stock.

Tenaris Company Profile

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.