BidaskClub upgraded shares of Tenneco Inc. (NYSE:TEN) from a hold rating to a buy rating in a research note issued to investors on Tuesday, August 1st.
Several other brokerages also recently issued reports on TEN. ValuEngine raised shares of Tenneco from a buy rating to a strong-buy rating in a research report on Thursday, July 6th. Guggenheim initiated coverage on shares of Tenneco in a research report on Wednesday, June 21st. They set a buy rating and a $68.00 price objective on the stock. CLSA initiated coverage on shares of Tenneco in a research report on Wednesday, June 21st. They set a buy rating and a $68.00 price objective on the stock. Jefferies Group LLC reissued a hold rating and set a $67.00 price objective on shares of Tenneco in a research report on Tuesday, April 25th. Finally, Morgan Stanley reduced their target price on shares of Tenneco from $45.00 to $44.00 and set an underweight rating for the company in a research note on Friday, June 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. Tenneco presently has a consensus rating of Buy and an average target price of $66.22.
Tenneco (NYSE TEN) opened at 51.74 on Tuesday. Tenneco has a 12 month low of $51.09 and a 12 month high of $70.96. The stock has a 50 day moving average price of $56.56 and a 200 day moving average price of $59.78. The stock has a market capitalization of $2.75 billion, a PE ratio of 10.07 and a beta of 1.79.
Tenneco (NYSE:TEN) last posted its earnings results on Friday, July 28th. The auto parts company reported $1.90 EPS for the quarter, beating the Zacks’ consensus estimate of $1.80 by $0.10. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.26 billion. Tenneco had a net margin of 3.17% and a return on equity of 54.06%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $1.78 EPS. On average, equities research analysts forecast that Tenneco will post $6.68 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 26th. Investors of record on Thursday, September 7th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Wednesday, September 6th. Tenneco’s dividend payout ratio (DPR) is 19.72%.
In other Tenneco news, Director David B. Price, Jr. sold 4,893 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $57.82, for a total transaction of $282,913.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John E. Kunz sold 4,243 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $59.75, for a total transaction of $253,519.25. Following the transaction, the vice president now owns 30,373 shares of the company’s stock, valued at $1,814,786.75. The disclosure for this sale can be found here. 2.70% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of TEN. Advisory Services Network LLC increased its stake in shares of Tenneco by 107.4% in the second quarter. Advisory Services Network LLC now owns 2,184 shares of the auto parts company’s stock worth $126,000 after buying an additional 1,131 shares during the period. Quantbot Technologies LP increased its stake in shares of Tenneco by 8.4% in the first quarter. Quantbot Technologies LP now owns 2,410 shares of the auto parts company’s stock worth $150,000 after buying an additional 187 shares during the period. Telemus Capital LLC purchased a new stake in shares of Tenneco during the first quarter worth approximately $220,000. Winslow Evans & Crocker Inc. increased its stake in shares of Tenneco by 39,760.0% in the first quarter. Winslow Evans & Crocker Inc. now owns 3,986 shares of the auto parts company’s stock worth $249,000 after buying an additional 3,976 shares during the period. Finally, 1st Global Advisors Inc. purchased a new stake in shares of Tenneco during the first quarter worth approximately $267,000. Institutional investors and hedge funds own 94.86% of the company’s stock.
Tenneco Company Profile
Tenneco Inc is a producer of clean air and ride performance products and systems for light vehicle, commercial truck, off-highway and other vehicle applications. The Company designs, manufactures and distributes highly engineered products for both original equipment vehicle manufacturers (OEMs) and the repair and replacement markets, or aftermarket, across the world.
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