Tenaris (NYSE:TS) Now Covered by Analysts at Piper Sandler

Piper Sandler assumed coverage on shares of Tenaris (NYSE:TS) in a report released on Thursday. The firm set an “overweight” rating and a $48.00 price target on the industrial products company’s stock. Piper Sandler’s price objective indicates a potential upside of 28.86% from the stock’s previous close.

TS has been the subject of several other reports. Jefferies Financial Group raised shares of Tenaris from a “hold” rating to a “buy” rating and increased their price target for the stock from $35.00 to $47.00 in a report on Monday, December 9th. StockNews.com upgraded Tenaris from a “hold” rating to a “buy” rating in a research report on Wednesday, November 27th. Finally, Stifel Nicolaus decreased their price target on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.75.

Tenaris Trading Up 0.8 %

Shares of NYSE TS traded up $0.28 during trading hours on Thursday, reaching $37.25. The stock had a trading volume of 769,365 shares, compared to its average volume of 1,911,703. The firm has a market cap of $21.66 billion, a price-to-earnings ratio of 8.12 and a beta of 1.46. Tenaris has a fifty-two week low of $27.24 and a fifty-two week high of $40.72. The firm has a 50-day moving average of $35.66 and a 200-day moving average of $32.13.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TS. Raymond James & Associates boosted its stake in shares of Tenaris by 1.1% during the 2nd quarter. Raymond James & Associates now owns 145,228 shares of the industrial products company’s stock valued at $4,432,000 after buying an additional 1,537 shares during the last quarter. Capital Insight Partners LLC lifted its stake in Tenaris by 5.3% during the second quarter. Capital Insight Partners LLC now owns 101,098 shares of the industrial products company’s stock worth $3,086,000 after purchasing an additional 5,075 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Tenaris in the 2nd quarter valued at about $32,000. Signaturefd LLC boosted its position in Tenaris by 4.7% during the 2nd quarter. Signaturefd LLC now owns 16,338 shares of the industrial products company’s stock valued at $499,000 after purchasing an additional 732 shares during the period. Finally, Commonwealth Equity Services LLC grew its position in shares of Tenaris by 9.3% during the second quarter. Commonwealth Equity Services LLC now owns 14,918 shares of the industrial products company’s stock worth $455,000 after acquiring an additional 1,271 shares during the last quarter. 10.45% of the stock is owned by institutional investors and hedge funds.

Tenaris Company Profile

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.