Tenneco (NYSE:TEN) had its target price trimmed by UBS Group from $16.00 to $15.00 in a research report report published on Thursday morning, BenzingaRatingsTable reports. The firm currently has a buy rating on the auto parts company’s stock.
Separately, Morgan Stanley upgraded Tenneco from an underweight rating to an equal weight rating and set a $9.00 target price for the company in a research report on Wednesday, August 14th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has an average rating of Hold and an average target price of $24.00.
Shares of NYSE:TEN traded down $0.07 during trading on Thursday, reaching $14.04. 1,603,091 shares of the company traded hands, compared to its average volume of 1,424,580. The company’s 50 day moving average is $9.27 and its two-hundred day moving average is $16.15. The firm has a market capitalization of $755.22 million, a PE ratio of 2.24 and a beta of 2.35. The company has a quick ratio of 0.88, a current ratio of 1.39 and a debt-to-equity ratio of 2.99. Tenneco has a 52 week low of $7.62 and a 52 week high of $47.22.
Tenneco (NYSE:TEN) last released its earnings results on Tuesday, August 6th. The auto parts company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.27. The firm had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.47 billion. Tenneco had a positive return on equity of 20.87% and a negative net margin of 0.90%. The company’s revenue was up 76.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.92 EPS. As a group, research analysts anticipate that Tenneco will post 4.03 EPS for the current year.
In other Tenneco news, Director Dennis J. Letham acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was acquired at an average cost of $9.26 per share, for a total transaction of $92,600.00. Following the transaction, the director now directly owns 47,233 shares in the company, valued at $437,377.58. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Brandon B. Smith acquired 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average price of $9.48 per share, with a total value of $189,600.00. Following the completion of the transaction, the senior vice president now owns 25,129 shares in the company, valued at $238,222.92. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 90,000 shares of company stock valued at $848,600. 3.30% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Synovus Financial Corp bought a new stake in shares of Tenneco during the 2nd quarter worth $61,000. Point72 Hong Kong Ltd bought a new stake in shares of Tenneco during the 2nd quarter worth $66,000. Bank of Montreal Can lifted its position in shares of Tenneco by 455.6% during the 2nd quarter. Bank of Montreal Can now owns 6,167 shares of the auto parts company’s stock worth $69,000 after buying an additional 5,057 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Tenneco by 914.3% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,070 shares of the auto parts company’s stock worth $78,000 after buying an additional 6,373 shares during the last quarter. Finally, Sciencast Management LP bought a new stake in shares of Tenneco during the 2nd quarter worth $104,000. Institutional investors and hedge funds own 88.26% of the company’s stock.
Tenneco Inc designs, manufactures, and sells clean air, powertrain, and ride performance products and systems for light vehicle, commercial truck, off-highway, industrial, and aftermarket customers worldwide. The company offers clean air products and systems, including catalytic converters and diesel oxidation catalysts, diesel particulate filters, burner systems, lean nitrogen oxide (NOx) traps, hydrocarbon vaporizers and injectors, selective catalytic reduction (SCR) systems, SCR-coated diesel particulate filters systems, urea dosing systems, four-way catalysts, alternative NOx reduction technologies, mufflers and resonators, fabricated exhaust manifolds, pipes, hydroformed assemblies, elastomeric hangers and isolators, and aftertreatment control units.
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