Tenaris (NYSE:TS) Lowered to “Hold” Rating by StockNews.com

Tenaris (NYSE:TS) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

A number of other research analysts have also weighed in on the company. Kepler Capital Markets lowered Tenaris from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Jefferies Financial Group upgraded Tenaris from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $35.00 to $47.00 in a research report on Monday, December 9th. Bank of America cut Tenaris from a “neutral” rating to an “underperform” rating in a research report on Wednesday, January 29th. Finally, Piper Sandler initiated coverage on Tenaris in a research note on Thursday, December 19th. They issued an “overweight” rating and a $48.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $42.75.

Tenaris Trading Down 0.9 %

Shares of Tenaris stock traded down $0.36 during trading hours on Tuesday, hitting $39.43. 1,656,979 shares of the company were exchanged, compared to its average volume of 1,393,136. Tenaris has a 1 year low of $27.24 and a 1 year high of $40.72. The business has a 50-day moving average of $38.29 and a 200-day moving average of $34.00. The stock has a market capitalization of $22.93 billion, a price-to-earnings ratio of 8.59 and a beta of 1.44.

Institutional Investors Weigh In On Tenaris

Institutional investors have recently made changes to their positions in the company. Crossmark Global Holdings Inc. boosted its position in Tenaris by 61.5% during the 4th quarter. Crossmark Global Holdings Inc. now owns 35,111 shares of the industrial products company’s stock valued at $1,327,000 after purchasing an additional 13,374 shares during the period. GAMMA Investing LLC boosted its position in Tenaris by 140.2% during the 4th quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 548 shares during the period. Mediolanum International Funds Ltd acquired a new position in Tenaris during the 3rd quarter valued at approximately $17,129,000. International Assets Investment Management LLC acquired a new position in Tenaris during the 3rd quarter valued at approximately $380,000. Finally, Concentric Capital Strategies LP acquired a new position in Tenaris during the 3rd quarter valued at approximately $1,163,000. 10.45% of the stock is currently owned by institutional investors.

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.