Tenaris (NYSE:TS) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

Tenaris S.A. (NYSE:TS) shares passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $57.88 and traded as high as $58.90. Tenaris shares last traded at $58.1680, with a volume of 755,656 shares traded.

Analysts Set New Price Targets

A number of analysts have commented on the company. Weiss Ratings lowered Tenaris from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, October 6th. TD Cowen upped their price target on Tenaris from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Bank of America increased their price target on Tenaris from $66.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, October 5th. Zacks Research cut Tenaris from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Finally, Wall Street Zen lowered shares of Tenaris from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Tenaris has a consensus rating of “Moderate Buy” and an average target price of $63.96.

Tenaris Stock Up 3.5%

The firm has a market cap of $31.77 billion, a PE ratio of 15.85, a PEG ratio of 1.66 and a beta of 0.89. The company has a 50-day simple moving average of $55.51 and a two-hundred day simple moving average of $57.87.

Tenaris (NYSE:TS) last posted its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.16. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.93 billion. Tenaris had a net margin of 15.88% and a return on equity of 11.14%. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.50 earnings per share. As a group, equities analysts predict that Tenaris S.A. will post 3.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TS. Renaissance Technologies LLC boosted its position in Tenaris by 7.9% during the first quarter. Renaissance Technologies LLC now owns 3,199,744 shares of the industrial products company’s stock worth $186,161,000 after purchasing an additional 235,400 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Tenaris by 2.2% in the second quarter. Wellington Management Group LLP now owns 2,458,033 shares of the industrial products company’s stock worth $136,396,000 after acquiring an additional 52,999 shares during the period. Kiltearn Partners LLP bought a new position in shares of Tenaris in the second quarter worth $9,642,000. Quantinno Capital Management LP grew its position in shares of Tenaris by 20.9% in the first quarter. Quantinno Capital Management LP now owns 146,347 shares of the industrial products company’s stock valued at $8,514,000 after purchasing an additional 25,271 shares in the last quarter. Finally, Corigliano Investment Advisers LLC purchased a new stake in Tenaris during the 4th quarter worth about $6,064,000. Institutional investors own 10.45% of the company’s stock.

Tenaris Company Profile

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services. The company produces seamless and welded steel tubes used in oil and gas exploration and production, including casing, tubing and line pipe, as well as products for petrochemical, power generation, construction, automotive and other industrial applications.

In addition to manufacturing, Tenaris provides engineering, supply-chain management, pipe processing, logistics and field services designed to support customers throughout the life cycle of tubular products.