Piper Sandler Boosts Tenaris (NYSE:TS) Price Target to $50.00

Tenaris (NYSE:TS) had its price objective boosted by stock analysts at Piper Sandler from $48.00 to $50.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. Piper Sandler’s price objective suggests a potential upside of 34.24% from the stock’s current price.

Several other analysts have also issued reports on TS. Kepler Capital Markets lowered shares of Tenaris from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Jefferies Financial Group upgraded Tenaris from a “hold” rating to a “buy” rating and upped their price objective for the stock from $35.00 to $47.00 in a research report on Monday, December 9th. StockNews.com upgraded Tenaris from a “hold” rating to a “buy” rating in a research report on Thursday, February 20th. Bank of America downgraded shares of Tenaris from a “neutral” rating to an “underperform” rating in a research report on Wednesday, January 29th. Finally, Stifel Nicolaus boosted their price objective on shares of Tenaris from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $46.00.

Tenaris Stock Performance

NYSE:TS traded down $0.35 during mid-day trading on Tuesday, hitting $37.25. The company had a trading volume of 107,690 shares, compared to its average volume of 1,461,224. The business’s fifty day moving average is $38.31 and its two-hundred day moving average is $34.64. The firm has a market cap of $21.65 billion, a P/E ratio of 10.32 and a beta of 1.44. Tenaris has a fifty-two week low of $27.24 and a fifty-two week high of $40.72.

Tenaris (NYSE:TS) last issued its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $2.71 billion. Equities analysts forecast that Tenaris will post 3.14 earnings per share for the current year.

Institutional Trading of Tenaris

A number of large investors have recently modified their holdings of TS. CSS LLC IL increased its stake in Tenaris by 33.4% in the fourth quarter. CSS LLC IL now owns 38,680 shares of the industrial products company’s stock valued at $1,462,000 after acquiring an additional 9,680 shares during the last quarter. Vident Advisory LLC lifted its position in Tenaris by 11.0% in the 4th quarter. Vident Advisory LLC now owns 12,713 shares of the industrial products company’s stock worth $480,000 after buying an additional 1,259 shares during the last quarter. Thornburg Investment Management Inc. purchased a new position in shares of Tenaris during the fourth quarter worth approximately $796,000. Silvercrest Asset Management Group LLC lifted its holdings in shares of Tenaris by 0.4% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 97,796 shares of the industrial products company’s stock worth $3,696,000 after acquiring an additional 386 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. raised its position in Tenaris by 106.7% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,150 shares of the industrial products company’s stock worth $81,000 after purchasing an additional 1,110 shares during the period. 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.