Deutsche Bank Maintains Tenneco Inc to Hold with Price Target $70.00

Brokerage firm Deutsche Bank Maintains its rating on Tenneco Inc(NYSE:TEN). In a research note issued to the investors, the brokerage major Raises the price-target to $70.00 per share. The shares have been rated Hold. The rating by Deutsche Bank was issued on Aug 1, 2016.

Tenneco Inc (TEN) made into the market gainers list on Mondays trading session with the shares advancing 0.44% or 0.24 points. Due to strong positive momentum, the stock ended at $55.4, which is also near the day’s high of $55.7. The stock began the session at $55.38 and the volume stood at 4,31,876 shares. The 52-week high of the shares is $57.73 and the 52 week low is $34.45. The company has a current market capitalization of $3,174 M and it has 5,72,87,298 shares in outstanding.

Tenneco Inc(TEN) last announced its earnings results on Jul 29, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $2.21B. Analysts had an estimated revenue of $2.24B. Earnings per share were $1.78. Analysts had estimated an EPS of $1.61.

Several Insider Transactions has been reported to the SEC. On Jun 2, 2016, Gregg M Sherrill (Chairman & CEO) sold 51,609 shares at $54.22 per share price.Also, On May 10, 2016, Kenneth R Trammell (Exec. Vice President and CFO) sold 21,080 shares at $51.55 per share price.On May 6, 2016, Timothy E Jackson (Executive Vice President) sold 13,811 shares at $52.38 per share price, according to the Form-4 filing with the securities and exchange commission.

Tenneco Inc. (Tenneco) 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 serves both original equipment vehicle manufacturers (OEMs) and the repair and replacement markets or aftermarket across the world. The Company operates in six segments: North America Clean Air; North America Ride Performance; Europe South America and India Clean Air; Europe South America and India Ride Performance; Asia Pacific Clean Air and Asia Pacific Ride Performance. The Company’s various brands include Monroe Rancho Clevite Elastomers Marzocchi Axios Kinetic and Fric-Rot Walker XNOx Fonos DynoMax and Thrush clean air products. As a parts supplier it produces individual component parts for vehicles as well as groups of components that are combined as modules or systems within vehicles.

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