Tenaris (NYSE:TS) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Tenaris (NYSE:TS) had its price objective boosted by stock analysts at Stifel Nicolaus from $40.00 to $43.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 11.90% from the stock’s current price.

A number of other research firms also recently commented on TS. StockNews.com upgraded Tenaris from a “hold” rating to a “buy” rating in a research report on Thursday. Bank of America lowered shares of Tenaris from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 29th. Jefferies Financial Group raised shares of Tenaris from a “hold” rating to a “buy” rating and increased their target price for the stock from $35.00 to $47.00 in a research note on Monday, December 9th. Piper Sandler began coverage on shares of Tenaris in a research note on Thursday, December 19th. They issued an “overweight” rating and a $48.00 price target on the stock. Finally, Kepler Capital Markets downgraded Tenaris from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $44.50.

Tenaris Stock Performance

Shares of TS opened at $38.43 on Friday. The stock has a 50 day moving average price of $38.33 and a 200 day moving average price of $34.41. Tenaris has a one year low of $27.24 and a one year high of $40.72. The stock has a market capitalization of $22.34 billion, a price-to-earnings ratio of 10.64 and a beta of 1.44.

Tenaris (NYSE:TS) last posted its earnings results on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.31. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. The company had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.71 billion. On average, analysts predict that Tenaris will post 3.14 earnings per share for the current year.

Hedge Funds Weigh In On Tenaris

Several hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc acquired a new position in Tenaris during the fourth quarter worth approximately $28,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Tenaris during the third quarter worth approximately $33,000. GAMMA Investing LLC lifted its holdings in shares of Tenaris by 140.2% during the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 548 shares during the period. Covestor Ltd acquired a new position in Tenaris in the 3rd quarter valued at $40,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Tenaris by 78.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 478 shares during the period. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

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.