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

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

Several other equities research analysts have also recently issued reports on the company. Piper Sandler reduced their target price on Tenaris from $43.00 to $40.00 and set an "overweight" rating on the stock in a report on Monday, July 15th. Stifel Nicolaus decreased their price objective on Tenaris from $37.00 to $36.00 and set a "buy" rating on the stock in a report on Friday, October 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $38.67.

Tenaris Stock Performance

Shares of TS traded down $0.43 on Friday, hitting $36.99. 2,120,580 shares of the stock traded hands, compared to its average volume of 1,978,164. The company has a market capitalization of $21.51 billion, a PE ratio of 8.06 and a beta of 1.43. Tenaris has a one year low of $27.24 and a one year high of $40.72. The business has a 50 day simple moving average of $31.35 and a 200 day simple moving average of $31.47.

Tenaris (NYSE:TS - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.18. Tenaris had a return on equity of 15.42% and a net margin of 20.23%. The company had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $2.76 billion. On average, equities analysts expect that Tenaris will post 3.23 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new position in Tenaris in the 2nd quarter worth approximately $32,000. Covestor Ltd purchased a new stake in Tenaris in the third quarter valued at $40,000. Headlands Technologies LLC grew its position in Tenaris by 1,486.0% during the 1st quarter. Headlands Technologies LLC now owns 1,586 shares of the industrial products company's stock worth $62,000 after purchasing an additional 1,486 shares during the period. Blue Trust Inc. raised its stake in shares of Tenaris by 79.0% during the 2nd quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company's stock valued at $110,000 after buying an additional 1,583 shares during the last quarter. Finally, West Family Investments Inc. acquired a new position in shares of Tenaris in the 3rd quarter valued at about $200,000. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

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.

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