Tenaris (NYSE:TS) Price Target Increased to $45.00 by Analysts at Piper Sandler

Tenaris (NYSE:TSGet Rating) had its price objective upped by research analysts at Piper Sandler from $33.00 to $45.00 in a report released on Friday, The Fly reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. Piper Sandler’s price target indicates a potential upside of 32.51% from the company’s current price.

Several other brokerages have also weighed in on TS. StockNews.com lowered Tenaris from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Stifel Nicolaus upgraded Tenaris from a “hold” rating to a “buy” rating and increased their target price for the company from $30.00 to $38.00 in a research note on Thursday, October 13th. Finally, JPMorgan Chase & Co. increased their target price on Tenaris from $45.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, November 15th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Tenaris presently has an average rating of “Moderate Buy” and a consensus target price of $33.38.

Tenaris Price Performance

Shares of TS stock opened at $33.96 on Friday. Tenaris has a fifty-two week low of $19.40 and a fifty-two week high of $35.05. The stock’s 50-day moving average is $29.44 and its two-hundred day moving average is $28.73. The firm has a market cap of $20.05 billion, a P/E ratio of 9.46, a PEG ratio of 0.29 and a beta of 1.51.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ronald Blue Trust Inc. acquired a new stake in shares of Tenaris in the second quarter valued at about $26,000. IFP Advisors Inc boosted its stake in shares of Tenaris by 345.2% in the third quarter. IFP Advisors Inc now owns 926 shares of the industrial products company’s stock valued at $45,000 after buying an additional 718 shares during the period. CWM LLC boosted its stake in shares of Tenaris by 113.4% in the second quarter. CWM LLC now owns 1,033 shares of the industrial products company’s stock valued at $27,000 after buying an additional 549 shares during the period. Captrust Financial Advisors boosted its stake in shares of Tenaris by 155.8% in the second quarter. Captrust Financial Advisors now owns 1,110 shares of the industrial products company’s stock valued at $29,000 after buying an additional 676 shares during the period. Finally, Tcwp LLC bought a new stake in shares of Tenaris in the first quarter valued at approximately $36,000. 12.28% of the stock is currently owned by institutional investors.

Tenaris Company Profile

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Tenaris SA, together with its subsidiaries, produces and sells seamless and welded steel tubular products; and provides related services for the oil and gas industry, and other industrial applications. The company offers steel casings, tubing products, mechanical and structural pipes, cold-drawn pipes, and premium joints and couplings; coiled tubing products for oil and gas drilling and workovers, and subsea pipelines; and umbilical tubing products; and tubular accessories.

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Analyst Recommendations for Tenaris (NYSE:TS)

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