Tenneco Inc. (NYSE:TEN) was downgraded by investment analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a report released on Saturday.
A number of other analysts also recently weighed in on TEN. Royal Bank Of Canada restated a “hold” rating and issued a $71.00 target price on shares of Tenneco in a research report on Thursday, July 6th. BidaskClub upgraded Tenneco from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Goldman Sachs Group, Inc. (The) assumed coverage on Tenneco in a research report on Monday, April 3rd. They issued a “buy” rating and a $71.00 target price for the company. Guggenheim assumed coverage on Tenneco in a research report on Wednesday, June 21st. They issued a “buy” rating and a $68.00 target price for the company. Finally, CLSA assumed coverage on Tenneco in a research report on Wednesday, June 21st. They issued a “buy” rating and a $68.00 target price for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $66.78.
Shares of Tenneco (NYSE:TEN) opened at 57.86 on Friday. Tenneco has a 52-week low of $51.09 and a 52-week high of $70.96. The firm has a market capitalization of $3.13 billion, a P/E ratio of 8.71 and a beta of 1.81. The stock’s 50 day moving average is $57.35 and its 200-day moving average is $61.40.
Tenneco (NYSE:TEN) last released its earnings results on Monday, May 1st. The auto parts company reported $1.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.10. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.24 billion. Tenneco had a return on equity of 55.31% and a net margin of 4.21%. Tenneco’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.17 EPS. On average, equities analysts forecast that Tenneco will post $6.58 earnings per share for the current fiscal year.
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In related news, Director David B. Price, Jr. sold 4,893 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $57.82, for a total transaction of $282,913.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP John E. Kunz sold 4,243 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $59.75, for a total value of $253,519.25. Following the transaction, the vice president now owns 30,373 shares of the company’s stock, valued at approximately $1,814,786.75. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in TEN. Winslow Evans & Crocker Inc. increased its position in shares of Tenneco by 39,760.0% in the first quarter. Winslow Evans & Crocker Inc. now owns 3,986 shares of the auto parts company’s stock worth $249,000 after buying an additional 3,976 shares in the last quarter. Renaissance Group LLC bought a new position in shares of Tenneco during the first quarter worth $303,000. Clinton Group Inc. bought a new position in shares of Tenneco during the first quarter worth $1,350,000. Horrell Capital Management Inc. increased its position in shares of Tenneco by 0.4% in the first quarter. Horrell Capital Management Inc. now owns 27,260 shares of the auto parts company’s stock worth $1,702,000 after buying an additional 100 shares in the last quarter. Finally, Karp Capital Management Corp bought a new position in shares of Tenneco during the first quarter worth $1,332,000. Institutional investors own 96.73% of the company’s stock.
Tenneco Inc is a producer of clean air and ride performance products and systems for light vehicle, commercial truck, off-highway and other vehicle applications. The Company designs, manufactures and distributes highly engineered products for both original equipment vehicle manufacturers (OEMs) and the repair and replacement markets, or aftermarket, across the world.
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