Shares of Tenneco Inc (NYSE:TEN) traded down 1.4% during trading on Thursday . The stock traded as low as $10.57 and last traded at $10.55. 702,155 shares were traded during mid-day trading, a decline of 59% from the average session volume of 1,704,141 shares. The stock had previously closed at $10.70.
Several analysts have commented on the company. Morgan Stanley dropped their price objective on Tenneco from $30.00 to $17.00 and set an “underweight” rating on the stock in a report on Tuesday, April 16th. UBS Group dropped their price objective on Tenneco from $39.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, April 1st. Finally, Royal Bank of Canada dropped their price objective on Tenneco to $31.00 and set a “sector perform” rating on the stock in a report on Friday, March 15th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $24.50.
The company has a debt-to-equity ratio of 2.96, a current ratio of 1.37 and a quick ratio of 0.85. The company has a market capitalization of $670.07 million, a PE ratio of 1.71, a P/E/G ratio of 0.33 and a beta of 1.94.
Tenneco (NYSE:TEN) last issued its quarterly earnings results on Thursday, May 9th. The auto parts company reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.42). The firm had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.49 billion. Tenneco had a positive return on equity of 25.31% and a negative net margin of 0.85%. The business’s revenue was up 73.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.56 earnings per share. As a group, research analysts predict that Tenneco Inc will post 4.5 EPS for the current fiscal year.
Several large investors have recently modified their holdings of the company. ARP Americas LP boosted its stake in shares of Tenneco by 5.8% in the fourth quarter. ARP Americas LP now owns 11,000 shares of the auto parts company’s stock worth $301,000 after acquiring an additional 600 shares during the last quarter. US Bancorp DE boosted its stake in Tenneco by 49.8% during the first quarter. US Bancorp DE now owns 1,820 shares of the auto parts company’s stock worth $40,000 after buying an additional 605 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Tenneco during the first quarter worth $40,000. Advisors Asset Management Inc. acquired a new position in Tenneco during the fourth quarter worth $27,000. Finally, Ingalls & Snyder LLC boosted its stake in Tenneco by 12.6% during the fourth quarter. Ingalls & Snyder LLC now owns 9,194 shares of the auto parts company’s stock worth $252,000 after buying an additional 1,026 shares during the last quarter. 94.43% of the stock is currently owned by hedge funds and other institutional investors.
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About Tenneco (NYSE:TEN)
Tenneco Inc designs, manufactures, and sells clean air, powertrain, and ride performance products and systems for light vehicle, commercial truck, off-highway, industrial, and aftermarket customers worldwide. The company offers clean air products and systems, including catalytic converters and diesel oxidation catalysts, diesel particulate filters, burner systems, lean nitrogen oxide (NOx) traps, hydrocarbon vaporizers and injectors, selective catalytic reduction (SCR) systems, SCR-coated diesel particulate filters systems, urea dosing systems, four-way catalysts, alternative NOx reduction technologies, mufflers and resonators, fabricated exhaust manifolds, pipes, hydroformed assemblies, elastomeric hangers and isolators, and aftertreatment control units.
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