Tenneco (NYSE:TEN) Price Target Raised to $18.00 at Deutsche Bank Aktiengesellschaft

Tenneco (NYSE:TEN) had its price objective boosted by Deutsche Bank Aktiengesellschaft from $17.00 to $18.00 in a research note issued to investors on Thursday, The Fly reports.

Separately, Wells Fargo & Company reduced their price objective on Tenneco from $20.00 to $18.00 and set an overweight rating for the company in a report on Tuesday, October 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Tenneco presently has an average rating of Hold and an average target price of $14.25.

NYSE TEN traded down $0.47 during trading on Thursday, reaching $12.84. 6,975 shares of the company’s stock were exchanged, compared to its average volume of 848,979. The business has a 50 day moving average price of $11.66 and a 200-day moving average price of $14.31. The stock has a market capitalization of $1.05 billion, a P/E ratio of 4.64 and a beta of 2.46. The company has a debt-to-equity ratio of 22.65, a current ratio of 1.26 and a quick ratio of 0.85. Tenneco has a fifty-two week low of $9.51 and a fifty-two week high of $22.75.

Tenneco (NYSE:TEN) last announced its quarterly earnings results on Friday, November 5th. The auto parts company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. The firm had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $3.99 billion. Tenneco had a return on equity of 141.02% and a net margin of 1.30%. The business’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 earnings per share. On average, analysts forecast that Tenneco will post 2.26 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TEN. FMR LLC lifted its stake in Tenneco by 26.5% during the first quarter. FMR LLC now owns 194,232 shares of the auto parts company’s stock worth $4,304,000 after purchasing an additional 40,678 shares during the last quarter. First Trust Advisors LP lifted its stake in Tenneco by 14.5% during the first quarter. First Trust Advisors LP now owns 47,908 shares of the auto parts company’s stock worth $1,062,000 after purchasing an additional 6,059 shares during the last quarter. Sei Investments Co. bought a new stake in Tenneco during the second quarter worth $851,000. Aigen Investment Management LP bought a new stake in Tenneco during the second quarter worth $252,000. Finally, Principal Financial Group Inc. bought a new stake in Tenneco during the second quarter worth $213,000. Hedge funds and other institutional investors own 70.02% of the company’s stock.

About Tenneco

Tenneco, Inc engages in the design, manufacture, market and sale of innovative clean air, powertrain and ride performance products and systems. It operates through the following segments: Clean Air, Powertrain, Ride Performance, and Motorparts. The Clean Air segment offers products and systems designed to reduce pollution and optimize engine performance, acoustic tuning, and weight on a vehicle for light vehicle, commercial truck, and off-highway original equipment customers.

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