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Tenaris (NYSE:TS) Stock Upgrade

Professional analysts at the Scotia Howard Weil equity division upgraded shares of Tenaris (NYSE:TS) from a “Sector Outperform” to a “Focus Stock” on Monday morning.

From a total of 15 analysts covering Tenaris SA (NYSE:TS) stock, 5 rate it a ”Buy”, 1 a “Sell”, and 8 a ”Hold”. This means that 36% of the ratings are positive. The highest target price is $40 while the lowest target price is $25. The mean of all analyst targets is $29.94 with a 26.19% above today’s ($23.44) stock price. Tenaris SA was the topic of 11 analyst reports since August 5, 2015 according to the firm StockzIntelligence Inc. Kepler Cheuvreux downgraded shares on November 6 to “Hold” rating. Cowen & Co maintained shares with “Market Perform” rating and $27 target share price in a report from an August 7. Citigroup downgraded TS stock in a recent report from October 20 to “Neutral” rating. Finally, Scotia Capital upgraded the stock to “Outperform” rating in a report issued on a September 17.

Approximately 590,653 shares of stock traded hands. Tenaris SA (ADR) (NYSE:TS) has declined 21.00% since May 11, 2015 and is downtrending. It has underperformed by 16.58% the S&P500.

Tenaris S.A is a holding company, which is engaged in the steel pipe manufacturing and distribution businesses. The company has a market cap of $13.99 billion. The Firm produces and sells both seamless and welded steel tubular products and related services mainly for the gas and oil industry, particularly oil country tubular goods used in drilling operations, and for other industrial applications with production processes that consist in the transformation of steel into tubular products. It has 64.83 P/E ratio. It operates in geographical areas, which include North America, South America, Europe, Middle East, Africa, and Far East and Oceania.

According to Zacks Investment Research, “Tenaris Sa, a corporation organized in Luxembourg, is a leading manufacturer and supplier of seamless steel pipe products and associated services to the oil and gas, energy and other industries. Tenaris’s operating subsidiaries include eight established steel pipe manufacturers: AlgomaTubes, Confab, Dalmine, NKKTubes, Siat, Siderca, Tamsa and Tavsa.”