Tenaris (NYSE:TS) Coverage Initiated at Piper Sandler

Investment analysts at Piper Sandler initiated coverage on shares of Tenaris (NYSE:TS) in a research report issued to clients and investors on Thursday. The brokerage set an “overweight” rating and a $48.00 price target on the industrial products company’s stock. Piper Sandler’s price objective would suggest a potential upside of 29.07% from the company’s previous close.

Several other equities research analysts also recently commented on the stock. StockNews.com raised shares of Tenaris from a “hold” rating to a “buy” rating in a research note on Wednesday, November 27th. Stifel Nicolaus decreased their price target on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a report on Friday, October 11th. Finally, Jefferies Financial Group raised Tenaris from a “hold” rating to a “buy” rating and raised their price objective for the stock from $35.00 to $47.00 in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.75.

Tenaris Trading Up 0.8 %

Tenaris stock opened at $37.19 on Thursday. The firm has a market capitalization of $21.62 billion, a P/E ratio of 8.10 and a beta of 1.46. The business has a 50-day moving average of $35.85 and a 200-day moving average of $32.19. Tenaris has a 1 year low of $27.24 and a 1 year high of $40.72.

Institutional Investors Weigh In On Tenaris

Several institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its stake in Tenaris by 187.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,546,184 shares of the industrial products company’s stock valued at $80,943,000 after acquiring an additional 1,660,300 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Tenaris by 46.2% in the second quarter. Renaissance Technologies LLC now owns 2,592,044 shares of the industrial products company’s stock valued at $79,109,000 after purchasing an additional 819,500 shares during the last quarter. Holocene Advisors LP bought a new stake in shares of Tenaris in the third quarter worth $21,454,000. FMR LLC boosted its holdings in Tenaris by 21.3% during the third quarter. FMR LLC now owns 3,503,644 shares of the industrial products company’s stock worth $111,381,000 after purchasing an additional 614,884 shares during the last quarter. Finally, Mediolanum International Funds Ltd bought a new position in Tenaris in the third quarter valued at $17,129,000. 10.45% of the stock is owned by 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.