Tenneco Inc (NYSE:TEN) was down 7.3% during trading on Thursday . The stock traded as low as $8.59 and last traded at $8.70, approximately 1,858,924 shares changed hands during mid-day trading. An increase of 73% from the average daily volume of 1,076,190 shares. The stock had previously closed at $9.39.
Several equities research analysts recently commented on TEN shares. Royal Bank of Canada reissued a “buy” rating and issued a $97.00 price target on shares of Prestige Consumer Healthcare in a research note on Friday, March 15th. UBS Group set a $133.00 price target on LHC Group and gave the company a “buy” rating in a research note on Friday, May 10th. Finally, Morgan Stanley set a $12.00 price target on Adient and gave the company a “sell” rating in a research note on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $24.25.
The stock has a market capitalization of $592.38 million, a price-to-earnings ratio of 1.39 and a beta of 2.34. The company’s 50 day moving average is $10.46. 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 (NYSE:TEN) last announced its earnings results on Thursday, May 9th. The auto parts company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.42). The company 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%. The firm’s revenue for the quarter was up 73.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.56 EPS. As a group, sell-side analysts forecast that Tenneco Inc will post 3.95 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the business. ARP Americas LP boosted its position in Tenneco by 5.8% during the fourth quarter. ARP Americas LP now owns 11,000 shares of the auto parts company’s stock worth $301,000 after purchasing an additional 600 shares during the period. Huntington National Bank boosted its position in Tenneco by 56.0% during the first quarter. Huntington National Bank now owns 3,508 shares of the auto parts company’s stock worth $78,000 after purchasing an additional 1,259 shares during the period. Investors Research Corp bought a new stake in Tenneco during the first quarter worth approximately $30,000. Bartlett & Co. LLC bought a new stake in Tenneco during the first quarter worth approximately $44,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Tenneco by 30.9% during the fourth quarter. Principal Financial Group Inc. now owns 9,111 shares of the auto parts company’s stock worth $250,000 after buying an additional 2,150 shares during the last quarter. 90.68% of the stock is owned by hedge funds and other institutional investors.
About Tenneco (NYSE:TEN)
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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