GYL Financial Synergies LLC acquired a new position in shares of Tenneco Inc (NYSE:TEN) during the 1st quarter, HoldingsChannel reports. The firm acquired 43,010 shares of the auto parts company’s stock, valued at approximately $953,000.
A number of other large investors have also recently bought and sold shares of TEN. Apollo Management Holdings L.P. acquired a new stake in Tenneco during the 1st quarter worth $3,091,000. Citigroup Inc. raised its stake in Tenneco by 6.2% during the 1st quarter. Citigroup Inc. now owns 280,306 shares of the auto parts company’s stock worth $6,212,000 after buying an additional 16,274 shares during the period. OppenheimerFunds Inc. raised its stake in Tenneco by 32.2% during the 1st quarter. OppenheimerFunds Inc. now owns 13,121 shares of the auto parts company’s stock worth $291,000 after buying an additional 3,196 shares during the period. Private Management Group Inc. raised its stake in Tenneco by 8.4% during the 1st quarter. Private Management Group Inc. now owns 653,983 shares of the auto parts company’s stock worth $14,492,000 after buying an additional 50,583 shares during the period. Finally, GAM Holding AG raised its stake in Tenneco by 52.9% during the 1st quarter. GAM Holding AG now owns 25,732 shares of the auto parts company’s stock worth $570,000 after buying an additional 8,901 shares during the period. 90.84% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently commented on the company. Morgan Stanley set a $10.00 price objective on Tenneco and gave the stock a “sell” rating in a research note on Thursday, May 16th. Royal Bank of Canada dropped their price objective 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. Finally, UBS Group lowered their target price on Tenneco from $39.00 to $28.00 and set a “buy” rating for the company in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $24.50.
TEN stock traded down $0.45 during trading hours on Friday, reaching $10.24. 4,672 shares of the stock were exchanged, compared to its average volume of 1,350,798. The stock has a market cap of $606.66 million, a PE ratio of 1.63 and a beta of 2.35. The company has a current ratio of 1.37, a quick ratio of 0.85 and a debt-to-equity ratio of 2.96. Tenneco Inc has a 12 month low of $9.85 and a 12 month high of $47.94.
Tenneco (NYSE:TEN) last released its earnings results on Thursday, May 9th. The auto parts company reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.42). The firm had revenue of $4.48 billion for the quarter, compared to the consensus estimate 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 quarter last year, the company posted $1.56 EPS. On average, analysts forecast that Tenneco Inc will post 4.13 earnings per share for the current fiscal year.
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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.
Read More: Why do analysts give a neutral rating?
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