Tenneco (NYSE:TEN)‘s stock had its “hold” rating restated by Royal Bank of Canada in a research note issued to investors on Wednesday. They currently have a $64.00 price objective on the auto parts company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 8.04% from the company’s previous close.
Other equities analysts have also recently issued reports about the company. KeyCorp reissued a “buy” rating and issued a $80.00 price target (up from $73.00) on shares of Tenneco in a report on Monday, October 30th. They noted that the move was a valuation call. Wells Fargo & Company cut their price target on Tenneco from $68.00 to $64.00 and set a “market perform” rating for the company in a report on Monday, October 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $67.00.
Tenneco (TEN) traded up $0.76 on Wednesday, reaching $59.24. The company’s stock had a trading volume of 299,791 shares, compared to its average volume of 549,603. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.93 and a current ratio of 1.33. The stock has a market capitalization of $2,995.75, a P/E ratio of 8.58, a price-to-earnings-growth ratio of 0.69 and a beta of 1.92. Tenneco has a one year low of $51.54 and a one year high of $70.96.
Tenneco (NYSE:TEN) last released its quarterly earnings results on Friday, October 27th. The auto parts company reported $1.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.08. Tenneco had a return on equity of 54.13% and a net margin of 1.97%. The company had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the previous year, the firm posted $1.53 earnings per share. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. equities analysts anticipate that Tenneco will post 6.72 EPS for the current fiscal year.
In related news, VP John E. Kunz sold 6,368 shares of the company’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $61.00, for a total value of $388,448.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Peng Guo sold 5,558 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $57.69, for a total value of $320,641.02. Following the completion of the transaction, the insider now owns 87,957 shares of the company’s stock, valued at $5,074,239.33. The disclosure for this sale can be found here. Insiders sold 23,426 shares of company stock valued at $1,387,589 over the last quarter. Insiders own 2.70% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Voya Investment Management LLC increased its stake in Tenneco by 10.8% in the second quarter. Voya Investment Management LLC now owns 24,308 shares of the auto parts company’s stock valued at $1,406,000 after purchasing an additional 2,365 shares during the last quarter. First Trust Advisors LP increased its stake in Tenneco by 9.1% during the second quarter. First Trust Advisors LP now owns 49,706 shares of the auto parts company’s stock worth $2,874,000 after acquiring an additional 4,166 shares during the last quarter. LSV Asset Management increased its stake in Tenneco by 20.5% during the second quarter. LSV Asset Management now owns 368,054 shares of the auto parts company’s stock worth $21,284,000 after acquiring an additional 62,700 shares during the last quarter. Chicago Equity Partners LLC increased its stake in Tenneco by 54.3% during the second quarter. Chicago Equity Partners LLC now owns 54,660 shares of the auto parts company’s stock worth $3,161,000 after acquiring an additional 19,230 shares during the last quarter. Finally, Delta Lloyd Asset Management N.V. acquired a new stake in Tenneco during the second quarter worth about $4,626,000. Hedge funds and other institutional investors own 94.42% of the company’s stock.
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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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