Wall Street Zen Downgrades Tenaris (NYSE:TS) to Hold

Tenaris (NYSE:TS) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other research analysts also recently commented on TS. The Goldman Sachs Group began coverage on shares of Tenaris in a research note on Monday, December 15th. They set a “neutral” rating and a $43.60 price objective for the company. Weiss Ratings restated a “hold (c)” rating on shares of Tenaris in a report on Monday, December 29th. Stifel Nicolaus increased their price target on shares of Tenaris from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Oddo Bhf upgraded shares of Tenaris to an “outperform” rating in a report on Thursday, February 5th. Finally, Piper Sandler reissued a “neutral” rating on shares of Tenaris in a research note on Thursday, December 18th. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $42.72.

Tenaris Stock Performance

Shares of NYSE TS opened at $48.76 on Friday. Tenaris has a 1 year low of $30.06 and a 1 year high of $48.83. The firm’s 50 day moving average price is $42.03 and its 200 day moving average price is $38.77. The firm has a market cap of $28.35 billion, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 12.87 and a beta of 0.95.

Institutional Trading of Tenaris

A number of institutional investors have recently added to or reduced their stakes in TS. Sourcerock Group LLC raised its position in Tenaris by 25.9% in the second quarter. Sourcerock Group LLC now owns 3,086,075 shares of the industrial products company’s stock valued at $115,419,000 after purchasing an additional 635,817 shares during the period. Optiver Holding B.V. grew its stake in shares of Tenaris by 186.8% in the third quarter. Optiver Holding B.V. now owns 905,328 shares of the industrial products company’s stock valued at $32,384,000 after buying an additional 589,625 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Tenaris by 25.4% during the 4th quarter. Van ECK Associates Corp now owns 2,019,185 shares of the industrial products company’s stock valued at $77,638,000 after buying an additional 408,592 shares during the period. ABC Arbitrage SA lifted its position in Tenaris by 252.6% during the 2nd quarter. ABC Arbitrage SA now owns 467,268 shares of the industrial products company’s stock worth $17,476,000 after acquiring an additional 334,755 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in Tenaris during the 2nd quarter worth approximately $9,380,000. 10.45% of the stock is owned by hedge funds and other institutional investors.

About Tenaris

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value‑added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.