Tenaris (NYSE:TS) PT Lowered to $43.00

Tenaris (NYSE:TS) had its target price lowered by equities research analysts at Piper Sandler from $49.00 to $43.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. Piper Sandler’s target price indicates a potential upside of 26.04% from the company’s current price.

Several other analysts have also recently commented on TS. Bank of America assumed coverage on Tenaris in a report on Tuesday, January 16th. They issued a “neutral” rating on the stock. Morgan Stanley lowered shares of Tenaris from an “overweight” rating to an “underweight” rating and set a $40.00 price objective on the stock. in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $41.60.

Tenaris Stock Performance

NYSE TS opened at $34.12 on Monday. The firm’s fifty day moving average price is $37.69 and its two-hundred day moving average price is $34.91. The stock has a market cap of $20.14 billion, a PE ratio of 5.69, a PEG ratio of 2.59 and a beta of 1.51. Tenaris has a fifty-two week low of $24.69 and a fifty-two week high of $40.72.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.89. Tenaris had a return on equity of 21.11% and a net margin of 24.89%. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.08 billion. As a group, sell-side analysts predict that Tenaris will post 3.91 earnings per share for the current fiscal year.

Institutional Trading of Tenaris

Several institutional investors have recently made changes to their positions in TS. Janiczek Wealth Management LLC grew its holdings in shares of Tenaris by 14.8% in the first quarter. Janiczek Wealth Management LLC now owns 2,692 shares of the industrial products company’s stock valued at $106,000 after acquiring an additional 347 shares in the last quarter. Parallel Advisors LLC grew its stake in Tenaris by 20.3% in the 4th quarter. Parallel Advisors LLC now owns 3,908 shares of the industrial products company’s stock valued at $136,000 after purchasing an additional 660 shares during the period. Greenleaf Trust bought a new position in Tenaris in the 4th quarter valued at $210,000. West Family Investments Inc. purchased a new stake in shares of Tenaris during the 4th quarter valued at $218,000. Finally, Capstone Investment Advisors LLC bought a new stake in shares of Tenaris during the 1st quarter worth $257,000. Institutional investors own 10.45% of the company’s stock.

Tenaris Company Profile

Tenaris SA, together with its subsidiaries, produces and sells seamless and welded steel tubular products and related services for the oil and gas industry, and other industrial applications. The company offers steel casings, tubing products, mechanical and structural pipes, line pipes, cold-drawn pipes, and premium joints and couplings; and coiled tubing products for oil and gas drilling and workovers, and subsea pipelines.