Tenneco (NYSE:TEN) has been assigned a $10.00 price objective by equities research analysts at Morgan Stanley in a report released on Thursday, TipRanks reports. The brokerage presently has a “sell” rating on the auto parts company’s stock. Morgan Stanley’s target price indicates a potential downside of 15.75% from the company’s current price.
A number of other brokerages have also recently commented on TEN. UBS Group decreased their price target on Tenneco from $28.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Royal Bank of Canada decreased their price target on Tenneco to $31.00 and set a “sector perform” rating on the stock in a research note on Friday, March 15th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Tenneco has an average rating of “Hold” and an average target price of $24.50.
Tenneco stock traded down $0.26 during trading hours on Thursday, reaching $11.87. The company had a trading volume of 1,281,200 shares, compared to its average volume of 987,911. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.37 and a quick ratio of 0.85. The stock has a market capitalization of $739.76 million, a P/E ratio of 1.89, a price-to-earnings-growth ratio of 0.34 and a beta of 1.94. Tenneco has a 12-month low of $11.85 and a 12-month high of $48.35.
Tenneco (NYSE:TEN) last announced its quarterly earnings results on Thursday, May 9th. The auto parts company reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.42). The company had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.49 billion. Tenneco had a positive return on equity of 25.31% and a negative net margin of 0.85%. Tenneco’s revenue for the quarter was up 73.7% on a year-over-year basis. During the same period last year, the firm earned $1.56 earnings per share. Sell-side analysts expect that Tenneco will post 4.8 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the company. Stone Ridge Asset Management LLC increased its stake in shares of Tenneco by 94.1% during the fourth quarter. Stone Ridge Asset Management LLC now owns 29,300 shares of the auto parts company’s stock valued at $803,000 after buying an additional 14,201 shares during the period. Victory Capital Management Inc. increased its stake in shares of Tenneco by 7.4% during the fourth quarter. Victory Capital Management Inc. now owns 25,027 shares of the auto parts company’s stock valued at $685,000 after buying an additional 1,725 shares during the period. Bailard Inc. purchased a new position in shares of Tenneco during the first quarter valued at approximately $266,000. Bartlett & Co. LLC purchased a new position in shares of Tenneco during the first quarter valued at approximately $44,000. Finally, FMR LLC increased its stake in shares of Tenneco by 38.2% during the fourth quarter. FMR LLC now owns 153,554 shares of the auto parts company’s stock valued at $4,206,000 after buying an additional 42,406 shares during the period. 91.76% of the stock is currently owned by hedge funds and other institutional investors.
Tenneco Company Profile
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.
Further Reading: Return on Equity (ROE)
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