Tenneco (TEN) Given a $10.00 Price Target at Morgan Stanley

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Morgan Stanley set a $10.00 price objective on Tenneco (NYSE:TEN) in a report released on Thursday morning, TipRanks reports. The firm currently has a sell rating on the auto parts company’s stock.

Other equities research analysts have also issued research reports about the company. UBS Group lowered their price objective on Tenneco from $28.00 to $16.00 and set a buy rating on the stock in a research report on Friday, May 10th. Royal Bank of Canada lowered their price objective on Tenneco to $31.00 and set a sector perform rating on the stock in a research report on Friday, March 15th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Tenneco has a consensus rating of Hold and a consensus price target of $24.50.

Tenneco stock traded down $0.26 during mid-day trading on Thursday, hitting $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 current ratio of 1.37, a quick ratio of 0.85 and a debt-to-equity ratio of 2.96. Tenneco has a 12-month low of $11.85 and a 12-month high of $48.35. The firm has a market cap of $739.76 million, a PE ratio of 1.89, a P/E/G ratio of 0.34 and a beta of 1.94.

Tenneco (NYSE:TEN) last released its quarterly earnings data on Thursday, May 9th. The auto parts company reported $0.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.42). Tenneco had a positive return on equity of 25.31% and a negative net margin of 0.85%. The company had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.49 billion. During the same quarter in the prior year, the company posted $1.56 EPS. The company’s revenue for the quarter was up 73.7% on a year-over-year basis. On average, equities research analysts forecast that Tenneco will post 4.8 EPS for the current year.

Several large investors have recently made changes to their positions in TEN. Advisors Asset Management Inc. purchased a new position in shares of Tenneco during the 4th quarter valued at approximately $27,000. Investors Research Corp purchased a new position in shares of Tenneco during the 1st quarter valued at approximately $30,000. US Bancorp DE lifted its position in shares of Tenneco by 49.8% during the 1st quarter. US Bancorp DE now owns 1,820 shares of the auto parts company’s stock valued at $40,000 after buying an additional 605 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Tenneco during the 1st quarter valued at approximately $40,000. Finally, Bartlett & Co. LLC purchased a new position in shares of Tenneco during the 1st quarter valued at approximately $44,000. Hedge funds and other institutional investors own 91.76% of the company’s stock.

About Tenneco

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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Analyst Recommendations for Tenneco (NYSE:TEN)

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