Tenaris (NYSE:TS) Upgraded to “Buy” at Jefferies Financial Group

Tenaris (NYSE:TS) was upgraded by investment analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a report issued on Monday,Benzinga reports. The firm presently has a $47.00 price target on the industrial products company’s stock, up from their previous price target of $35.00. Jefferies Financial Group’s price target would indicate a potential upside of 24.44% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on TS. Stifel Nicolaus dropped their target price on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, October 11th. StockNews.com raised Tenaris from a “hold” rating to a “buy” rating in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tenaris currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.75.

Tenaris Stock Down 3.3 %

TS stock opened at $37.77 on Monday. Tenaris has a twelve month low of $27.24 and a twelve month high of $40.72. The company has a market cap of $21.96 billion, a price-to-earnings ratio of 8.23 and a beta of 1.46. The business has a 50 day moving average price of $34.67 and a two-hundred day moving average price of $31.84.

Hedge Funds Weigh In On Tenaris

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Tenaris during the 3rd quarter worth $33,000. Allspring Global Investments Holdings LLC acquired a new stake in Tenaris during the second quarter worth about $32,000. Covestor Ltd bought a new position in Tenaris in the 3rd quarter valued at about $40,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Tenaris in the 3rd quarter valued at approximately $67,000. Finally, Blue Trust Inc. lifted its holdings in shares of Tenaris by 79.0% during the 2nd quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company’s stock worth $110,000 after acquiring an additional 1,583 shares during the period. 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.