Tenneco Inc (NYSE:TEN) has been given a consensus recommendation of “Hold” by the twelve ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $67.30.
A number of research firms have recently weighed in on TEN. Barclays reaffirmed a “buy” rating and set a $74.00 price target on shares of Tenneco in a research note on Tuesday, January 9th. Royal Bank of Canada reissued a “hold” rating and issued a $64.00 price objective on shares of Tenneco in a research note on Wednesday, December 20th. Wells Fargo & Co lowered their price objective 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 issued a $80.00 price objective (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, ValuEngine cut shares of Tenneco from a “buy” rating to a “hold” rating in a research note on Saturday.
Tenneco (NYSE:TEN) traded up $0.45 during trading hours on Friday, hitting $55.05. 724,958 shares of the stock were exchanged, compared to its average volume of 438,829. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.93 and a current ratio of 1.33. Tenneco has a fifty-two week low of $51.54 and a fifty-two week high of $70.96. The firm has a market cap of $2,840.00, a PE ratio of 17.10, a PEG ratio of 0.58 and a beta of 1.89.
In related news, insider Peng Guo sold 5,558 shares of the 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 sale, 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 SEC, which is available through this hyperlink. 2.70% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in TEN. Amalgamated Bank lifted its holdings in Tenneco by 4.9% in the 2nd quarter. Amalgamated Bank now owns 7,017 shares of the auto parts company’s stock valued at $406,000 after purchasing an additional 328 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in Tenneco by 120.3% in the 2nd quarter. New York State Common Retirement Fund now owns 219,941 shares of the auto parts company’s stock valued at $12,719,000 after purchasing an additional 120,105 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Tenneco by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,280,102 shares of the auto parts company’s stock valued at $74,027,000 after purchasing an additional 39,520 shares in the last quarter. OxFORD Asset Management LLP purchased a new position in Tenneco in the 2nd quarter valued at about $2,455,000. Finally, Voya Investment Management LLC lifted its holdings in Tenneco by 10.8% in the 2nd quarter. Voya Investment Management LLC now owns 24,308 shares of the auto parts company’s stock valued at $1,406,000 after purchasing an additional 2,365 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.
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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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