Tenneco Inc (NYSE:TEN) has received an average recommendation of “Hold” from the seven research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $24.25.
A number of equities research analysts recently commented on TEN shares. Morgan Stanley set a $9.00 target price on shares of Tenneco and gave the company a “sell” rating in a research report on Wednesday, June 26th. UBS Group decreased their target price on shares of Tenneco from $28.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, May 10th.
In related news, insider Jason M. Hollar purchased 60,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was acquired at an average price of $9.44 per share, with a total value of $566,400.00. Following the completion of the acquisition, the insider now owns 64,623 shares in the company, valued at approximately $610,041.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Brandon B. Smith purchased 20,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was bought at an average cost of $9.48 per share, with a total value of $189,600.00. Following the acquisition, the senior vice president now owns 25,129 shares of the company’s stock, valued at approximately $238,222.92. The disclosure for this purchase can be found here. Insiders have purchased 90,000 shares of company stock valued at $848,600 in the last three months. 3.30% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Towle & Co. grew its position in shares of Tenneco by 91.1% in the second quarter. Towle & Co. now owns 2,388,549 shares of the auto parts company’s stock valued at $26,489,000 after purchasing an additional 1,138,503 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Tenneco by 1,250.0% in the second quarter. Tower Research Capital LLC TRC now owns 29,052 shares of the auto parts company’s stock valued at $322,000 after purchasing an additional 26,900 shares during the period. Parametric Portfolio Associates LLC grew its position in shares of Tenneco by 112.8% in the second quarter. Parametric Portfolio Associates LLC now owns 489,129 shares of the auto parts company’s stock valued at $5,424,000 after purchasing an additional 259,236 shares during the period. Commonwealth Bank of Australia grew its position in shares of Tenneco by 114.8% in the second quarter. Commonwealth Bank of Australia now owns 34,800 shares of the auto parts company’s stock valued at $385,000 after purchasing an additional 18,600 shares during the period. Finally, Northern Trust Corp grew its position in shares of Tenneco by 1.6% in the second quarter. Northern Trust Corp now owns 671,395 shares of the auto parts company’s stock valued at $7,446,000 after purchasing an additional 10,392 shares during the period. 87.97% of the stock is owned by institutional investors and hedge funds.
NYSE:TEN traded down $0.02 during midday trading on Tuesday, reaching $9.97. 2,193,450 shares of the stock traded hands, compared to its average volume of 1,168,273. Tenneco has a 12-month low of $7.62 and a 12-month high of $47.22. The firm has a 50-day moving average price of $9.56. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.39 and a quick ratio of 0.88. The company has a market cap of $570.73 million, a PE ratio of 1.59 and a beta of 2.34.
Tenneco (NYSE:TEN) last posted its earnings results on Tuesday, August 6th. The auto parts company reported $1.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.27. Tenneco had a negative net margin of 0.90% and a positive return on equity of 20.87%. The company had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.47 billion. During the same quarter in the prior year, the company posted $1.92 earnings per share. Tenneco’s revenue for the quarter was up 76.7% compared to the same quarter last year. Equities analysts forecast that Tenneco will post 4.05 EPS for the current year.
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.
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