Tenaris (NYSE:TS) Upgraded by StockNews.com to "Buy" Rating

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

TS has been the topic of several other reports. Piper Sandler started coverage on shares of Tenaris in a research note on Thursday, December 19th. They issued an "overweight" rating and a $48.00 price target on the stock. Stifel Nicolaus lowered their target price on Tenaris from $37.00 to $36.00 and set a "buy" rating on the stock in a research report on Friday, October 11th. Finally, Jefferies Financial Group raised Tenaris from a "hold" rating to a "buy" rating and increased their price target for the company from $35.00 to $47.00 in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.75.

Tenaris Stock Up 0.5 %

Shares of NYSE:TS traded up $0.19 during midday trading on Friday, reaching $37.76. 1,128,313 shares of the company were exchanged, compared to its average volume of 1,285,957. The firm has a market cap of $21.95 billion, a PE ratio of 8.23 and a beta of 1.45. Tenaris has a fifty-two week low of $27.24 and a fifty-two week high of $40.72. The stock has a fifty day simple moving average of $37.04 and a two-hundred day simple moving average of $32.61.

Hedge Funds Weigh In On Tenaris

Several hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in Tenaris by 140.2% during the fourth 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. Versant Capital Management Inc acquired a new position in shares of Tenaris during the 4th quarter worth $28,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Tenaris during the 3rd quarter worth $67,000. World Investment Advisors LLC acquired a new stake in Tenaris in the third quarter valued at about $2,200,000. Finally, Barclays PLC grew its position in Tenaris by 30,000.0% in the third quarter. Barclays PLC now owns 6,020 shares of the industrial products company's stock valued at $192,000 after acquiring an additional 6,000 shares during the last quarter. 10.45% of the stock is owned by 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.

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