Barclays reaffirmed their buy rating on shares of Tenneco (NYSE:TEN) in a report published on Tuesday, January 9th. Barclays currently has a $74.00 price target on the auto parts company’s stock.
Several other equities research analysts have also issued reports on the stock. Wells Fargo & Co lowered their target price on shares of Tenneco from $68.00 to $64.00 and set a market perform rating on the stock in a research note on Monday, October 30th. KeyCorp reissued a buy rating and set a $80.00 target price (up from $73.00) on shares of Tenneco in a research note on Monday, October 30th. They noted that the move was a valuation call. Finally, Royal Bank of Canada reissued a hold rating and set a $64.00 target price on shares of Tenneco in a research note on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $67.30.
Shares of Tenneco (TEN) traded down $1.71 on Tuesday, reaching $58.01. The company’s stock had a trading volume of 431,489 shares, compared to its average volume of 448,585. The firm has a market cap of $3,070.03, a P/E ratio of 17.53, a P/E/G ratio of 0.65 and a beta of 1.92. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.33 and a quick ratio of 0.93. Tenneco has a 12 month low of $51.54 and a 12 month high of $70.96.
In related news, insider Peng Guo sold 5,558 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $57.69, for a total value of $320,641.02. Following the transaction, the insider now directly owns 87,957 shares of the company’s stock, valued at approximately $5,074,239.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.70% of the company’s stock.
A number of institutional investors have recently modified their holdings of TEN. State Board of Administration of Florida Retirement System lifted its stake in Tenneco by 8.0% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 35,297 shares of the auto parts company’s stock worth $2,041,000 after purchasing an additional 2,617 shares in the last quarter. LSV Asset Management lifted its stake in Tenneco by 20.5% in the 2nd quarter. LSV Asset Management now owns 368,054 shares of the auto parts company’s stock worth $21,284,000 after purchasing an additional 62,700 shares in the last quarter. Engineers Gate Manager LP lifted its stake in Tenneco by 413.8% in the 2nd quarter. Engineers Gate Manager LP now owns 20,550 shares of the auto parts company’s stock worth $1,188,000 after purchasing an additional 16,550 shares in the last quarter. Franklin Resources Inc. lifted its stake in Tenneco by 7.6% in the 2nd quarter. Franklin Resources Inc. now owns 282,738 shares of the auto parts company’s stock worth $16,351,000 after purchasing an additional 20,082 shares in the last quarter. Finally, AJO LP lifted its stake in Tenneco by 396.8% in the 2nd quarter. AJO LP now owns 1,875,899 shares of the auto parts company’s stock worth $108,483,000 after purchasing an additional 1,498,310 shares in the last quarter. 95.06% of the stock is currently owned by hedge funds and other institutional investors.
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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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