Stifel Nicolaus Has Lowered Expectations for Tenaris (NYSE:TS) Stock Price

Tenaris (NYSE:TS) had its target price decreased by equities researchers at Stifel Nicolaus from $43.00 to $41.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 26.59% from the stock’s previous close.

A number of other research firms also recently commented on TS. Piper Sandler increased their target price on Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, February 25th. Kepler Capital Markets downgraded shares of Tenaris from a “buy” rating to a “hold” rating in a report on Friday, January 17th. StockNews.com downgraded shares of Tenaris from a “buy” rating to a “hold” rating in a report on Saturday, March 22nd. Barclays boosted their price objective on Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Finally, Bank of America lowered Tenaris from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $45.60.

Tenaris Stock Performance

TS traded up $0.42 during trading on Tuesday, reaching $32.39. 620,950 shares of the company traded hands, compared to its average volume of 1,648,680. The company has a market cap of $18.83 billion, a P/E ratio of 8.97 and a beta of 1.21. Tenaris has a 12-month low of $27.24 and a 12-month high of $40.87. The firm has a fifty day simple moving average of $37.18 and a 200 day simple moving average of $36.63.

Tenaris (NYSE:TS) last released its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.63 by $0.31. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.71 billion. As a group, sell-side analysts expect that Tenaris will post 3.14 earnings per share for the current fiscal year.

Institutional Trading of Tenaris

A number of hedge funds and other institutional investors have recently bought and sold shares of TS. Versant Capital Management Inc bought a new position in shares of Tenaris in the fourth quarter worth about $28,000. GAMMA Investing LLC grew its holdings in Tenaris by 140.2% in the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 548 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Tenaris by 78.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company’s stock valued at $41,000 after buying an additional 478 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Tenaris in the fourth quarter worth about $42,000. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Tenaris by 291.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,725 shares of the industrial products company’s stock valued at $65,000 after acquiring an additional 1,284 shares in the last quarter. Hedge funds and other institutional investors 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.