Tenaris (NYSE:TS) Price Target Raised to $40.00 at Morgan Stanley

Tenaris (NYSE:TS) had its price target raised by equities researchers at Morgan Stanley from $38.00 to $40.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “underweight” rating on the industrial products company’s stock. Morgan Stanley’s target price indicates a potential downside of 24.81% from the company’s previous close.

Several other analysts have also recently commented on TS. Stifel Nicolaus lifted their price objective on shares of Tenaris from $45.00 to $57.00 and gave the company a “buy” rating in a research note on Monday. Weiss Ratings restated a “hold (c)” rating on shares of Tenaris in a research report on Monday, December 29th. TD Cowen upped their price target on shares of Tenaris from $48.00 to $59.00 and gave the company a “buy” rating in a report on Friday. Piper Sandler reiterated a “neutral” rating on shares of Tenaris in a research note on Thursday, December 18th. Finally, Oddo Bhf raised Tenaris to an “outperform” rating in a report on Thursday, February 5th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Tenaris presently has a consensus rating of “Hold” and an average price target of $49.43.

Tenaris Stock Performance

TS stock traded up $0.94 during midday trading on Monday, reaching $53.20. The stock had a trading volume of 423,988 shares, compared to its average volume of 1,498,870. The firm has a fifty day simple moving average of $43.04 and a two-hundred day simple moving average of $39.32. Tenaris has a 52-week low of $30.06 and a 52-week high of $54.60. The stock has a market cap of $30.93 billion, a PE ratio of 14.58, a P/E/G ratio of 13.66 and a beta of 0.95.

Tenaris (NYSE:TS) last announced its quarterly earnings data on Wednesday, February 18th. The industrial products company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.11. Tenaris had a return on equity of 11.32% and a net margin of 16.13%.The business had revenue of $3 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same period in the prior year, the company earned $0.94 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts predict that Tenaris will post 3.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Tenaris

A number of institutional investors have recently modified their holdings of the business. AQR Capital Management LLC increased its stake in shares of Tenaris by 14.3% in the 1st quarter. AQR Capital Management LLC now owns 23,662 shares of the industrial products company’s stock valued at $925,000 after purchasing an additional 2,969 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Tenaris during the first quarter worth approximately $203,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in Tenaris in the first quarter valued at approximately $5,458,000. Ashton Thomas Private Wealth LLC increased its position in shares of Tenaris by 3.8% in the second quarter. Ashton Thomas Private Wealth LLC now owns 29,511 shares of the industrial products company’s stock valued at $1,104,000 after buying an additional 1,080 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its position in shares of Tenaris by 1,547.3% in the second quarter. Hantz Financial Services Inc. now owns 3,624 shares of the industrial products company’s stock valued at $136,000 after buying an additional 3,404 shares in the last quarter. 10.45% of the stock is currently owned by institutional investors and hedge funds.

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.