Tenaris (NYSE:TS) Cut to "Hold" at StockNews.com

Tenaris (NYSE:TS - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Tuesday.

Several other equities research analysts have also commented on the company. Jefferies Financial Group upgraded Tenaris from a "hold" rating to a "buy" rating and upped their target price for the company from $35.00 to $47.00 in a research report on Monday, December 9th. Bank of America lowered Tenaris from a "neutral" rating to an "underperform" rating in a research report on Wednesday, January 29th. Piper Sandler began coverage on Tenaris in a research note on Thursday, December 19th. They set an "overweight" rating and a $48.00 price target on the stock. Finally, Kepler Capital Markets downgraded Tenaris from a "buy" rating to a "hold" rating in a research note on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $42.75.

Tenaris Price Performance

Shares of Tenaris stock traded up $0.12 on Tuesday, hitting $38.61. 1,402,203 shares of the company's stock traded hands, compared to its average volume of 1,322,892. Tenaris has a one year low of $27.24 and a one year high of $40.72. The company has a fifty day moving average of $38.32 and a two-hundred day moving average of $34.17. The company has a market capitalization of $22.44 billion, a price-to-earnings ratio of 8.41 and a beta of 1.44.

Institutional Trading of Tenaris

Several institutional investors and hedge funds have recently modified their holdings of TS. Versant Capital Management Inc purchased a new stake in shares of Tenaris in the fourth quarter worth approximately $28,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Tenaris in the third quarter valued at approximately $33,000. GAMMA Investing LLC grew its holdings in shares of Tenaris by 140.2% in the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company's stock valued at $35,000 after acquiring an additional 548 shares in the last quarter. Covestor Ltd bought a new position in shares of Tenaris in the third quarter valued at approximately $40,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Tenaris by 78.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company's stock valued at $41,000 after acquiring an additional 478 shares in the last quarter. 10.45% of the stock is owned by hedge funds and other 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.