Tenaris (NYSE:TS) Lowered to “Underweight” at Barclays
Barclays downgraded shares of Tenaris (NYSE:TS) from an equal weight rating to an underweight rating in a research note published on Monday, Briefing.com Automated Import reports. Barclays currently has $10.00 target price on the industrial products company’s stock, down from their previous target price of $15.00.
Other equities analysts have also recently issued reports about the stock. Jefferies Financial Group cut shares of Tenaris from a buy rating to a hold rating and lowered their price target for the stock from $16.68 to $14.72 in a research note on Monday, May 4th. Cheuvreux lowered shares of Tenaris from a buy rating to a hold rating in a research report on Monday, April 20th. Piper Sandler lifted their price target on shares of Tenaris from $12.20 to $15.00 and gave the company a neutral rating in a research report on Tuesday, June 16th. Goldman Sachs Group upgraded Tenaris from a sell rating to a buy rating and set a $17.00 price target on the stock in a report on Monday, June 22nd. Finally, Stifel Nicolaus lifted their price objective on Tenaris from $16.00 to $17.00 and gave the stock a buy rating in a report on Friday, May 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. Tenaris presently has a consensus rating of Hold and a consensus target price of $16.52.
NYSE TS opened at $12.37 on Monday. The stock has a market capitalization of $7.41 billion, a price-to-earnings ratio of -16.28 and a beta of 1.38. The business’s 50 day moving average is $12.77 and its two-hundred day moving average is $14.56. Tenaris has a 12-month low of $9.10 and a 12-month high of $23.77. The company has a current ratio of 3.30, a quick ratio of 1.94 and a debt-to-equity ratio of 0.04.
A number of institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can lifted its holdings in Tenaris by 131.7% in the 2nd quarter. Bank of Montreal Can now owns 2,076 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 1,180 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Tenaris by 596.9% in the first quarter. Parallel Advisors LLC now owns 2,509 shares of the industrial products company’s stock valued at $30,000 after buying an additional 2,149 shares during the last quarter. Advisor Group Holdings Inc. purchased a new position in shares of Tenaris during the first quarter valued at approximately $43,000. Signaturefd LLC boosted its position in Tenaris by 120.8% during the first quarter. Signaturefd LLC now owns 5,661 shares of the industrial products company’s stock worth $68,000 after acquiring an additional 3,097 shares during the last quarter. Finally, UBS Group AG grew its stake in Tenaris by 21.4% in the 2nd quarter. UBS Group AG now owns 5,768 shares of the industrial products company’s stock worth $75,000 after acquiring an additional 1,016 shares during the period. Hedge funds and other institutional investors own 11.82% of the company’s stock.
Tenaris SA, through its subsidiaries, produces and sells seamless and welded steel tubular products; and provides 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, perforating guns, tubular accessories, and non-tubular accessories and devices.
Featured Story: What is a bull market?
Receive News & Ratings for Tenaris Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenaris and related companies with MarketBeat.com's FREE daily email newsletter.