Tenaris (NYSE:TS) Rating Lowered to Buy at StockNews.com

Jun 01, 2023

Tenaris (NYSE:TS - Get Rating) was downgraded by equities researchers at StockNews.com from a "strong-buy" rating to a "buy" rating in a research note issued on Friday.

A number of other analysts have also recently commented on TS. Piper Sandler dropped their price target on Tenaris from $49.00 to $44.00 in a research report on Monday, May 1st. Cowen boosted their price target on Tenaris from $45.00 to $49.00 in a research report on Friday, February 17th. Finally, Morgan Stanley dropped their price target on Tenaris from $44.00 to $40.00 in a research report on Tuesday, April 18th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $44.50.

TS stock opened at $25.69 on Friday. Tenaris has a fifty-two week low of $22.24 and a fifty-two week high of $38.00. The business's 50 day moving average price is $27.72 and its two-hundred day moving average price is $31.57. The company has a market capitalization of $15.16 billion, a price-to-earnings ratio of 4.77, a price-to-earnings-growth ratio of 2.02 and a beta of 1.44.

A number of hedge funds have recently added to or reduced their stakes in the stock. Perpetual Ltd purchased a new stake in Tenaris during the 1st quarter valued at $234,292,000. Van ECK Associates Corp increased its stake in shares of Tenaris by 9.4% in the 1st quarter. Van ECK Associates Corp now owns 4,214,351 shares of the industrial products company's stock worth $119,772,000 after purchasing an additional 362,756 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Tenaris by 1.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,104,573 shares of the industrial products company's stock worth $116,652,000 after purchasing an additional 48,677 shares in the last quarter. Morgan Stanley increased its stake in shares of Tenaris by 9.4% in the 4th quarter. Morgan Stanley now owns 1,946,080 shares of the industrial products company's stock worth $68,424,000 after purchasing an additional 167,024 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Tenaris by 2,895.9% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 1,842,507 shares of the industrial products company's stock worth $47,612,000 after buying an additional 1,781,007 shares in the last quarter. 12.15% of the stock is currently owned by hedge funds and other institutional investors.

Tenaris SA manufactures and supplies steel pipe products. It operates through the Tubes and Other segments. The Tubes segment consists of the production and sale of both seamless and welded steel tubular products and related services mainly for the oil and gas industry, particularly oil country tubular goods used in drilling operations, and for other industrial applications with production processes that consist in the transformation of steel into tubular products.

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