Tenaris (NYSE:TS) Rating Increased to Buy at StockNews.com

Tenaris (NYSE:TS) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

TS has been the topic of a number of other research reports. Piper Sandler started coverage on Tenaris in a research report on Thursday, December 19th. They issued an “overweight” rating and a $48.00 price objective on the stock. Jefferies Financial Group upgraded shares of Tenaris from a “hold” rating to a “buy” rating and lifted their price target for the company from $35.00 to $47.00 in a report on Monday, December 9th. Finally, Stifel Nicolaus dropped their price target on Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Tenaris has a consensus rating of “Moderate Buy” and an average price target of $42.75.

Tenaris Price Performance

TS stock traded up $0.19 during midday trading on Friday, reaching $37.76. 1,128,313 shares of the stock were exchanged, compared to its average volume of 1,285,957. Tenaris has a 52 week low of $27.24 and a 52 week high of $40.72. The company has a fifty day moving average price of $37.04 and a 200 day moving average price of $32.61. The stock has a market capitalization of $21.95 billion, a PE ratio of 8.23 and a beta of 1.45.

Institutional Trading of Tenaris

Institutional investors have recently added to or reduced their stakes in the company. FMR LLC lifted its position in shares of Tenaris by 21.3% during the third quarter. FMR LLC now owns 3,503,644 shares of the industrial products company’s stock worth $111,381,000 after purchasing an additional 614,884 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Tenaris by 46.2% during the 2nd quarter. Renaissance Technologies LLC now owns 2,592,044 shares of the industrial products company’s stock valued at $79,109,000 after buying an additional 819,500 shares in the last quarter. Wellington Management Group LLP boosted its position in Tenaris by 187.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,546,184 shares of the industrial products company’s stock valued at $80,943,000 after buying an additional 1,660,300 shares during the period. Point72 Asset Management L.P. grew its stake in Tenaris by 102.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,050,552 shares of the industrial products company’s stock worth $33,397,000 after acquiring an additional 531,860 shares in the last quarter. Finally, Holocene Advisors LP purchased a new position in shares of Tenaris during the third quarter worth approximately $21,454,000. 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.