Tenaris S.A. (TS) : 7 analysts are covering Tenaris S.A. (TS) and their average rating on the stock is 3.14, which is read as a Hold. 1 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. However, 1 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. 1 more analyst has given the stock a Sell recommendation. A total of 4 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Tenaris S.A. (TS) : 6 Wall Street analysts covering Tenaris S.A. (TS) believe that the average level the stock could reach for the short term is $26. The maximum price target given is $34 and the minimum target for short term is around $21, hence the standard deviation is calculated at $5.4.
Tenaris S.A. (NYSE:TS): The stock opened at $27.79 on Wednesday but the bulls could not build on the opening and the stock topped out at $27.98 for the day. The stock traded down to $27.34 during the day, due to lack of any buying support eventually closed down at $27.94 with a loss of -1.03% for the day. The stock had closed at $28.23 on the previous day. The total traded volume was 2,109,532 shares.
Also, Brokerage firm Citigroup upgrades its rating on Tenaris S.A. (NYSE:TS). As per the latest information, the brokerage house raises the price target to $28 per share from a prior target of $19. The shares have been rated Neutral. Previously, the analysts had a Sell rating on the shares. The rating by the firm was issued on April 20, 2016. The company shares have rallied 11.85% from its 1 Year high price. On Jun 23, 2016, the shares registered one year high at $29.74 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $27.50 and the 200 Day Moving Average price is recorded at $24.37.
Tenaris S.A is a holding company, which is engaged in the steel pipe manufacturing and distribution businesses. The Company produces and sells both seamless and welded steel tubular products and related services mainly for the oil and gas 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 operates in geographical areas, which include North America, South America, Europe, Middle East, Africa, and Far East and Oceania. Its principal finished products are seamless and welded steel casing and tubing, line pipe and other mechanical and structural steel pipes for different uses. It also manufactures sucker rods used in oil extraction activities, industrial equipment of various specifications and applications, including liquid and gas storage equipment, and welded steel pipes for electric conduits used in the construction industry.