Tenaris (NYSE:TS) Stock Price Target Raised at Morgan Stanley

Tenaris (NYSE:TS) had its price objective hoisted by equities researchers at Morgan Stanley from $62.00 to $65.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the industrial products company’s stock. Morgan Stanley‘s target price suggests a potential upside of 9.14% from the company’s previous close.

Several other equities analysts also recently commented on TS. Zacks Research downgraded Tenaris from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Weiss Ratings cut Tenaris from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, October 6th. Bank of America increased their price objective on Tenaris from $66.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, October 5th. Barclays lifted their price objective on Tenaris from $80.00 to $88.00 and gave the company an “overweight” rating in a report on Friday. Finally, TD Cowen boosted their target price on shares of Tenaris from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Tenaris has a consensus rating of “Hold” and an average price target of $63.84.

Tenaris Stock Up 1.2%

TS traded up $0.71 during midday trading on Monday, reaching $59.56. 530,064 shares of the company’s stock were exchanged, compared to its average volume of 1,511,373. The firm has a market capitalization of $30.07 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 1.65 and a beta of 0.89. Tenaris has a one year low of $37.69 and a one year high of $64.60. The business has a 50-day simple moving average of $57.11 and a two-hundred day simple moving average of $56.34.

Tenaris (NYSE:TS) last released its quarterly earnings data on Wednesday, November 4th. The industrial products company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.20. Tenaris had a return on equity of 11.53% and a net margin of 16.24%. The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.03 billion. During the same period in the prior year, the company posted $0.85 EPS. The company’s revenue was up 4.2% compared to the same quarter last year. As a group, research analysts anticipate that Tenaris will post 3.80 EPS for the current fiscal year.

Institutional Trading of Tenaris

Several hedge funds have recently modified their holdings of TS. Lido Advisors LLC raised 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 buying an additional 184 shares during the last quarter. Keybank National Association OH acquired a new position in Tenaris during the 3rd quarter worth about $215,000. Leuthold Group LLC grew its holdings in Tenaris by 8.9% during the 3rd quarter. Leuthold Group LLC now owns 87,491 shares of the industrial products company’s stock worth $4,828,000 after acquiring an additional 7,124 shares during the last quarter. Ethic Inc. grew its holdings in Tenaris by 40.5% during the 3rd quarter. Ethic Inc. now owns 139,055 shares of the industrial products company’s stock worth $7,673,000 after acquiring an additional 40,067 shares during the last quarter. Finally, Trek Financial LLC grew its holdings in Tenaris by 16.4% during the 3rd quarter. Trek Financial LLC now owns 5,056 shares of the industrial products company’s stock worth $279,000 after acquiring an additional 711 shares during the last quarter. Institutional investors and hedge funds own 10.45% of the company’s stock.

Tenaris Company Profile

Tenaris SA 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.

Tenaris was established in 2001, bringing together several established pipe manufacturers, including Argentina’s Siderca, Mexico’s Tamsa, and Italy’s Dalmine.