Tenaris (NYSE:TS) Given New $88.00 Price Target at Barclays

Tenaris (NYSE:TS) had its price target boosted by analysts at Barclays from $80.00 to $88.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. Barclays‘s price target indicates a potential upside of 48.37% from the company’s previous close.

Several other analysts have also commented on TS. Weiss Ratings lowered shares of Tenaris from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, October 6th. Morgan Stanley upped their target price on Tenaris from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 14th. Wall Street Zen lowered Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. TD Cowen increased their target price on Tenaris from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Finally, 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 note on Monday, October 5th. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Tenaris currently has an average rating of “Hold” and an average target price of $62.59.

Tenaris Stock Up 4.9%

Shares of TS traded up $2.78 during trading hours on Friday, reaching $59.31. 542,802 shares of the company traded hands, compared to its average volume of 1,512,402. The company’s fifty day moving average price is $57.02 and its two-hundred day moving average price is $56.26. The company has a market capitalization of $31.79 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 1.59 and a beta of 0.89. Tenaris has a 12 month low of $37.69 and a 12 month high of $64.60.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Wednesday, November 4th. The industrial products company reported $1.01 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the company earned $0.85 earnings per share. Tenaris’s quarterly revenue was up 4.2% on a year-over-year basis. On average, analysts expect that Tenaris will post 3.76 EPS for the current year.

Institutional Investors Weigh In On Tenaris

Several hedge funds have recently added to or reduced their stakes in the stock. Lido Advisors LLC grew its stake 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 worth $635,000 after acquiring an additional 184 shares during the last quarter. Keybank National Association OH bought a new position in shares of Tenaris during the third quarter valued at $215,000. Leuthold Group LLC increased its holdings in shares of Tenaris by 8.9% during the third quarter. Leuthold Group LLC now owns 87,491 shares of the industrial products company’s stock valued at $4,828,000 after acquiring an additional 7,124 shares in the last quarter. Ethic Inc. increased its holdings in shares of Tenaris by 40.5% during the third quarter. Ethic Inc. now owns 139,055 shares of the industrial products company’s stock valued at $7,673,000 after acquiring an additional 40,067 shares in the last quarter. Finally, Trek Financial LLC raised its position in shares of Tenaris by 16.4% in the 3rd quarter. Trek Financial LLC now owns 5,056 shares of the industrial products company’s stock worth $279,000 after purchasing an additional 711 shares during the last quarter. 10.45% of the stock is owned by institutional investors.

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.