Tenaris SA (NYSE:TS) has been assigned a consensus rating of “Buy” from the sixteen research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $37.09.
Several equities analysts recently issued reports on the company. Cowen set a $35.00 price objective on Tenaris and gave the stock a “hold” rating in a research note on Monday. Barclays set a $41.00 price objective on Tenaris and gave the stock a “buy” rating in a research note on Tuesday. Capital One Financial restated an “equal weight” rating on shares of Tenaris in a research note on Thursday, February 22nd. Piper Jaffray Companies restated a “buy” rating and set a $40.00 price objective on shares of Tenaris in a research note on Friday. Finally, Morgan Stanley raised their price objective on Tenaris from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd.
Tenaris (NYSE TS) traded down $1.14 during trading on Friday, hitting $35.10. The stock had a trading volume of 1,461,118 shares, compared to its average volume of 1,993,204. Tenaris has a 12 month low of $25.91 and a 12 month high of $36.33. The stock has a market cap of $20,765.63, a PE ratio of 37.77 and a beta of 0.74.
A number of hedge funds have recently bought and sold shares of TS. Vanguard Group Inc. lifted its stake in Tenaris by 4.3% in the second quarter. Vanguard Group Inc. now owns 337,048 shares of the industrial products company’s stock valued at $10,496,000 after buying an additional 14,016 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in Tenaris in the third quarter valued at $459,000. Calamos Wealth Management LLC bought a new stake in Tenaris in the third quarter valued at $676,000. Calamos Advisors LLC lifted its stake in Tenaris by 17.7% in the third quarter. Calamos Advisors LLC now owns 605,199 shares of the industrial products company’s stock valued at $17,133,000 after buying an additional 91,191 shares during the last quarter. Finally, Crossmark Global Holdings Inc. bought a new stake in Tenaris in the third quarter valued at $1,164,000. Institutional investors own 13.07% of the company’s stock.
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Tenaris SA is a holding company, which is a steel producer with production facilities in Mexico, Argentina, Colombia, United States and Guatemala. The Company supplies round steel bars and flat steel products for its pipes business. It operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the oil and gas industry, principally oil country tubular goods (OCTG) used in drilling operations, and for other industrial applications with production processes that include in the transformation of steel into tubular products.
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