Tenaris (NYSE:TS) Stock Rating Upgraded by 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 Wednesday.

Separately, Stifel Nicolaus cut their target price on Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have 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 price target of $38.67.

Tenaris Stock Performance

NYSE:TS opened at $38.09 on Wednesday. The stock has a fifty day moving average price of $33.71 and a 200-day moving average price of $31.72. The company has a market cap of $22.14 billion, a price-to-earnings ratio of 8.30 and a beta of 1.43. Tenaris has a fifty-two week low of $27.24 and a fifty-two week high of $40.72.

Hedge Funds Weigh In On Tenaris

A number of institutional investors have recently modified their holdings of TS. Price T Rowe Associates Inc. MD raised its holdings in shares of Tenaris by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,782,729 shares of the industrial products company’s stock worth $70,009,000 after buying an additional 56,935 shares in the last quarter. Boston Partners acquired a new position in shares of Tenaris during the 1st quarter worth $1,662,000. Manning & Napier Advisors LLC acquired a new position in shares of Tenaris during the 2nd quarter worth $1,518,000. QRG Capital Management Inc. raised its holdings in shares of Tenaris by 7.3% during the 2nd quarter. QRG Capital Management Inc. now owns 31,200 shares of the industrial products company’s stock worth $952,000 after buying an additional 2,120 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Tenaris by 26.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 37,048 shares of the industrial products company’s stock worth $1,131,000 after buying an additional 7,790 shares in the last quarter. Institutional investors and hedge funds own 10.45% of the company’s stock.

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.