Piper Sandler Lowers Tenaris (NYSE:TS) Price Target to $40.00

Tenaris (NYSE:TS) had its price target reduced by research analysts at Piper Sandler from $43.00 to $40.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. Piper Sandler’s target price would indicate a potential upside of 25.94% from the company’s current price.

Separately, Morgan Stanley lowered shares of Tenaris from an “overweight” rating to an “underweight” rating and set a $40.00 price objective on the stock. in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tenaris presently has an average rating of “Hold” and an average price target of $40.00.

Tenaris Price Performance

Tenaris stock opened at $31.76 on Monday. The company’s 50 day simple moving average is $32.26 and its 200 day simple moving average is $34.31. Tenaris has a fifty-two week low of $29.56 and a fifty-two week high of $40.72. The firm has a market capitalization of $18.46 billion, a price-to-earnings ratio of 5.29 and a beta of 1.46.

Tenaris (NYSE:TS) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.23. Tenaris had a net margin of 24.89% and a return on equity of 21.11%. The business had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.34 billion. As a group, analysts predict that Tenaris will post 3.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TS. Headlands Technologies LLC boosted its holdings in Tenaris by 1,486.0% during the first quarter. Headlands Technologies LLC now owns 1,586 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 1,486 shares during the last quarter. Janiczek Wealth Management LLC boosted its holdings in Tenaris by 14.8% during the first quarter. Janiczek Wealth Management LLC now owns 2,692 shares of the industrial products company’s stock worth $106,000 after purchasing an additional 347 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Tenaris by 20.3% during the fourth quarter. Parallel Advisors LLC now owns 3,908 shares of the industrial products company’s stock worth $136,000 after purchasing an additional 660 shares during the last quarter. Greenleaf Trust acquired a new position in Tenaris during the fourth quarter worth $210,000. Finally, West Family Investments Inc. acquired a new position in Tenaris during the fourth quarter worth $218,000. Institutional investors and hedge funds own 10.45% of the company’s stock.

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.