Tenaris (NYSE:TS) Price Target Cut to $41.00 by Analysts at Stifel Nicolaus

Tenaris (NYSE:TS) had its price target dropped by investment analysts at Stifel Nicolaus from $43.00 to $41.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 25.31% from the company’s previous close.

TS has been the subject of several other research reports. StockNews.com lowered shares of Tenaris from a “buy” rating to a “hold” rating in a report on Saturday, March 22nd. Barclays increased their price target on Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. Kepler Capital Markets cut Tenaris from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Bank of America cut Tenaris from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 29th. Finally, Piper Sandler lifted their price target on shares of Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $45.60.

Tenaris Trading Up 2.0 %

NYSE TS opened at $32.72 on Tuesday. Tenaris has a 12 month low of $27.24 and a 12 month high of $40.87. The stock has a 50-day simple moving average of $36.95 and a 200 day simple moving average of $36.57. The company has a market capitalization of $19.02 billion, a PE ratio of 9.06 and a beta of 1.21.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.31. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. The company had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.71 billion. As a group, sell-side analysts predict that Tenaris will post 3.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tenaris

Several hedge funds have recently modified their holdings of TS. Versant Capital Management Inc bought a new stake in Tenaris during the fourth quarter worth about $28,000. GAMMA Investing LLC increased its position in shares of Tenaris by 140.2% during the 4th 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 last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Tenaris by 78.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 478 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Tenaris in the 4th quarter valued at approximately $42,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Tenaris by 93.2% in the first quarter. Farther Finance Advisors LLC now owns 1,660 shares of the industrial products company’s stock valued at $66,000 after buying an additional 801 shares in the last quarter. 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.