Tenaris (NYSE:TS) Given New $50.00 Price Target at Piper Sandler

Tenaris (NYSE:TS - Get Free Report) had its price target increased by stock analysts at Piper Sandler from $48.00 to $50.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the industrial products company's stock. Piper Sandler's target price would suggest a potential upside of 32.00% from the company's current price.

Several other equities research analysts also recently weighed in on the stock. Stifel Nicolaus raised their target price on shares of Tenaris from $40.00 to $43.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Barclays lifted their price objective on shares of Tenaris from $48.00 to $50.00 and gave the stock an "overweight" rating in a research note on Monday. Kepler Capital Markets downgraded shares of Tenaris from a "buy" rating to a "hold" rating in a research note on Friday, January 17th. Jefferies Financial Group upgraded shares of Tenaris from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $35.00 to $47.00 in a research note on Monday, December 9th. Finally, Bank of America downgraded shares of Tenaris from a "neutral" rating to an "underperform" rating in a research note on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Tenaris presently has an average rating of "Hold" and an average price target of $46.00.

Tenaris Stock Performance

TS traded up $0.34 during trading on Tuesday, hitting $37.88. The stock had a trading volume of 1,191,441 shares, compared to its average volume of 1,505,450. The company has a market capitalization of $22.02 billion, a PE ratio of 10.49 and a beta of 1.44. Tenaris has a twelve month low of $27.24 and a twelve month high of $40.72. The stock has a 50 day simple moving average of $38.32 and a two-hundred day simple moving average of $34.82.

Tenaris (NYSE:TS - Get Free Report) last announced its earnings results on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.31. The company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.71 billion. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. On average, equities research analysts anticipate that Tenaris will post 3.14 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc acquired a new position in Tenaris during the fourth quarter valued at $28,000. GAMMA Investing LLC increased its holdings in 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 buying an additional 548 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Tenaris in the third quarter valued at $33,000. EverSource Wealth Advisors LLC increased its holdings in 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 buying an additional 478 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in Tenaris in the fourth quarter valued at $42,000. 10.45% of the stock is currently owned by institutional investors and hedge funds.

About Tenaris

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.