Tenaris (NYSE:TS) Price Target Raised to $67.00

Tenaris (NYSE:TS) had its target price lifted by Piper Sandler from $60.00 to $67.00 in a research note released on Monday morning,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

A number of other analysts have also recently commented on TS. TD Cowen upped their price target on shares of Tenaris from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Wall Street Zen lowered Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings downgraded Tenaris from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, October 6th. Barclays boosted their price objective on Tenaris from $80.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, November 6th. Finally, Bank of America upped their target price on Tenaris from $66.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $63.84.

Tenaris Stock Performance

NYSE:TS opened at $61.21 on Monday. Tenaris has a 52 week low of $37.69 and a 52 week high of $64.60. The firm’s fifty day moving average is $57.40 and its 200-day moving average is $56.58. The firm has a market cap of $30.90 billion, a P/E ratio of 15.45, a P/E/G ratio of 1.41 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.20. Tenaris had a net margin of 16.24% and a return on equity of 11.53%. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter last year, the firm earned $0.85 earnings per share. Tenaris’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Tenaris will post 4.16 earnings per share for the current year.

Hedge Funds Weigh In On Tenaris

Several large investors have recently added to or reduced their stakes in TS. HighTower Advisors LLC raised its stake in shares of Tenaris by 5.3% in the third quarter. HighTower Advisors LLC now owns 9,912 shares of the industrial products company’s stock worth $547,000 after purchasing an additional 499 shares during the last quarter. Lido Advisors LLC lifted its holdings 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 valued at $635,000 after purchasing an additional 184 shares in the last quarter. Keybank National Association OH purchased a new position in shares of Tenaris during the third quarter valued at approximately $215,000. Leuthold Group LLC boosted its position 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 buying an additional 7,124 shares during the last quarter. Finally, Ethic Inc. boosted its position 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 buying 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.