Tenaris (NYSE:TS) Rating Increased to Buy at Jefferies Financial Group

Tenaris (NYSE:TS) was upgraded by research analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued on Monday, Marketbeat.com reports. The brokerage currently has a $47.00 target price on the industrial products company’s stock, up from their prior target price of $35.00. Jefferies Financial Group’s target price would suggest a potential upside of 22.11% from the stock’s previous close.

A number of other research analysts also recently commented on the company. StockNews.com upgraded Tenaris from a “hold” rating to a “buy” rating in a research note on Wednesday, November 27th. Stifel Nicolaus lowered their price target on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, October 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.75.

Tenaris Stock Down 0.8 %

Shares of TS stock opened at $38.49 on Monday. The business has a 50 day moving average of $34.81 and a two-hundred day moving average of $31.88. The company has a market cap of $22.38 billion, a P/E ratio of 8.39 and a beta of 1.46. Tenaris has a 52 week low of $27.24 and a 52 week high of $40.72.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new position in shares of Tenaris in the second quarter valued at approximately $32,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Tenaris in the third quarter worth approximately $33,000. Covestor Ltd bought a new position in Tenaris during the 3rd quarter valued at $40,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Tenaris during the 3rd quarter valued at $67,000. Finally, Blue Trust Inc. raised its stake in shares of Tenaris by 79.0% in the 2nd quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company’s stock worth $110,000 after buying an additional 1,583 shares in the last quarter. 10.45% of the stock is owned by institutional investors and hedge funds.

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.