Tenneco (NYSE:TEN) Stock Price Crosses Above 200 Day Moving Average of $17.87

Tenneco Inc. (NYSE:TENGet Rating)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $17.87 and traded as high as $18.85. Tenneco shares last traded at $18.68, with a volume of 1,906,287 shares.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. began coverage on shares of Tenneco in a research note on Tuesday, June 28th. They set an “overweight” rating and a $20.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $20.00.

Tenneco Stock Performance

The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -8.69 and a beta of 1.79. The stock’s fifty day moving average is $18.95 and its two-hundred day moving average is $17.88. The company has a quick ratio of 0.76, a current ratio of 1.18 and a debt-to-equity ratio of 176.21.

Hedge Funds Weigh In On Tenneco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TEN. JPMorgan Chase & Co. boosted its position in Tenneco by 13,512.4% during the fourth quarter. JPMorgan Chase & Co. now owns 4,552,809 shares of the auto parts company’s stock worth $51,446,000 after purchasing an additional 4,519,363 shares during the period. TIG Advisors LLC bought a new position in Tenneco during the second quarter worth $54,794,000. Alpine Associates Management Inc. bought a new position in Tenneco during the first quarter worth $37,430,000. Glazer Capital LLC bought a new position in Tenneco during the first quarter worth $21,286,000. Finally, Hsbc Holdings PLC boosted its position in shares of Tenneco by 1,196.9% in the first quarter. Hsbc Holdings PLC now owns 712,186 shares of the auto parts company’s stock valued at $13,040,000 after acquiring an additional 657,271 shares during the period. 83.18% of the stock is owned by institutional investors.

Tenneco Company Profile

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Tenneco Inc designs, manufactures, and sells clean air, and powertrain products and systems for light vehicle, commercial truck, off-highway, industrial, motorsport, and aftermarket customers worldwide. It operates through four segments: Motorparts, Performance Solutions, Clean Air, and Powertrain. The Motorparts segment offers shock and strut, steering and suspension, braking, sealing, emissions control, engine, and maintenance products under the Monroe, Champion, Öhlins, MOOG, Walker, Fel-Pro, Wagner, Ferodo, Rancho, Thrush, National, Sealed Power, and other brands.

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