Brokerages Set Tenneco Inc (TEN) Price Target at $56.43

Share on StockTwits

Tenneco Inc (NYSE:TEN) has been given a consensus rating of “Hold” by the ten analysts that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $56.43.

Several research firms have recently issued reports on TEN. Wolfe Research assumed coverage on shares of Tenneco in a report on Tuesday, October 2nd. They issued a “peer perform” rating for the company. Wells Fargo & Co decreased their price objective on shares of Tenneco from $50.00 to $45.00 and set a “market perform” rating for the company in a report on Wednesday, October 17th. Morgan Stanley decreased their price objective on shares of Tenneco from $41.00 to $40.00 and set a “hold” rating for the company in a report on Monday, August 13th. Finally, Royal Bank of Canada decreased their price objective on shares of Tenneco to $47.00 and set an “underperform” rating for the company in a report on Thursday, October 4th.

In related news, Director Thomas C. Freyman acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 9th. The stock was bought at an average price of $44.49 per share, for a total transaction of $222,450.00. Following the acquisition, the director now directly owns 22,265 shares of the company’s stock, valued at approximately $990,569.85. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.95% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Horrell Capital Management Inc. raised its holdings in shares of Tenneco by 4.1% in the 2nd quarter. Horrell Capital Management Inc. now owns 30,610 shares of the auto parts company’s stock valued at $1,346,000 after purchasing an additional 1,205 shares in the last quarter. BancorpSouth Bank raised its holdings in shares of Tenneco by 11.1% in the 2nd quarter. BancorpSouth Bank now owns 12,685 shares of the auto parts company’s stock valued at $558,000 after purchasing an additional 1,264 shares in the last quarter. Xact Kapitalforvaltning AB raised its holdings in shares of Tenneco by 18.3% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 8,409 shares of the auto parts company’s stock valued at $370,000 after purchasing an additional 1,300 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Tenneco by 3.1% in the 2nd quarter. Rhumbline Advisers now owns 54,010 shares of the auto parts company’s stock valued at $2,374,000 after purchasing an additional 1,638 shares in the last quarter. Finally, HGK Asset Management Inc. raised its holdings in shares of Tenneco by 17.5% in the 2nd quarter. HGK Asset Management Inc. now owns 11,590 shares of the auto parts company’s stock valued at $509,000 after purchasing an additional 1,729 shares in the last quarter. Institutional investors and hedge funds own 80.79% of the company’s stock.

Tenneco stock opened at $35.15 on Friday. The stock has a market capitalization of $2.04 billion, a PE ratio of 5.10, a PEG ratio of 0.49 and a beta of 1.85. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.22 and a quick ratio of 0.85. Tenneco has a 12-month low of $32.62 and a 12-month high of $65.59.

Tenneco (NYSE:TEN) last released its earnings results on Friday, October 26th. The auto parts company reported $1.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.20. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.37 billion. Tenneco had a net margin of 2.39% and a return on equity of 47.04%. The business’s revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the business earned $1.67 EPS. Research analysts forecast that Tenneco will post 6.68 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Tuesday, December 4th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 2.84%. Tenneco’s payout ratio is 14.51%.

Tenneco Company Profile

Tenneco Inc designs, manufactures, and distributes clean air and ride performance products and systems for light vehicle, commercial truck, off-highway, and other vehicle applications worldwide. The company offers various vehicle emission control 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 after treatment control units.

Featured Article: Stock Symbol

Analyst Recommendations for Tenneco (NYSE:TEN)

Receive News & Ratings for Tenneco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenneco and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply