Tenaris (NYSE:TS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The brokerage currently has a $38.00 target price on the industrial products company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 17.07% from the stock’s current price.

According to Zacks, “Tenaris Sa, a corporation organized in Luxembourg, is a leading manufacturer and supplier of seamless steel pipe products and associated services to the oil and gas, energy and other industries. Tenaris’s operating subsidiaries include eight established steel pipe manufacturers: AlgomaTubes, Confab, Dalmine, NKKTubes, Siat, Siderca, Tamsa and Tavsa. “

A number of other analysts have also issued reports on TS. Exane BNP Paribas raised Tenaris from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 21st. ValuEngine raised Tenaris from a “hold” rating to a “buy” rating in a research note on Wednesday, June 27th. Guggenheim reaffirmed a “buy” rating and issued a $48.00 price target on shares of Tenaris in a research note on Friday, August 3rd. Wolfe Research started coverage on Tenaris in a research note on Wednesday. They issued a “peer perform” rating on the stock. Finally, Piper Jaffray Companies set a $44.00 price target on Tenaris and gave the stock a “buy” rating in a research note on Thursday, August 2nd. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Tenaris currently has an average rating of “Buy” and an average price target of $41.81.

Tenaris stock opened at $32.46 on Thursday. The company has a market capitalization of $19.79 billion, a PE ratio of 42.16, a price-to-earnings-growth ratio of 0.63 and a beta of 0.55. Tenaris has a 12 month low of $25.91 and a 12 month high of $40.64.

Tenaris (NYSE:TS) last posted its quarterly earnings data on Wednesday, August 1st. The industrial products company reported $0.29 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.29. The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Tenaris had a return on equity of 5.74% and a net margin of 10.21%. The business’s revenue was up 43.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 earnings per share. As a group, sell-side analysts anticipate that Tenaris will post 1.4 EPS for the current fiscal year.

Several large investors have recently modified their holdings of the company. Fox Run Management L.L.C. boosted its stake in Tenaris by 17.3% during the third quarter. Fox Run Management L.L.C. now owns 15,637 shares of the industrial products company’s stock worth $524,000 after buying an additional 2,306 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in Tenaris by 50.2% during the second quarter. Cubist Systematic Strategies LLC now owns 7,208 shares of the industrial products company’s stock worth $262,000 after buying an additional 2,408 shares during the last quarter. SG Americas Securities LLC boosted its stake in Tenaris by 50.6% during the second quarter. SG Americas Securities LLC now owns 10,268 shares of the industrial products company’s stock worth $374,000 after buying an additional 3,452 shares during the last quarter. Royal Bank of Canada boosted its stake in Tenaris by 13.4% during the first quarter. Royal Bank of Canada now owns 30,755 shares of the industrial products company’s stock worth $1,067,000 after buying an additional 3,624 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Tenaris by 44.2% during the first quarter. PNC Financial Services Group Inc. now owns 15,093 shares of the industrial products company’s stock worth $523,000 after buying an additional 4,626 shares during the last quarter. 13.97% of the stock is currently owned by hedge funds and other institutional investors.

About Tenaris

Tenaris SA 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 products for oil and gas drilling operations, such as casing and tubing products, premium connections, drill pipes, coiled tubing, hot-rolled and cold-drawn seamless tubes, tubular and non-tubular accessories, and devices.

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