Tenneco (NYSE:TEN) PT Raised to $18.00

Tenneco (NYSE:TEN) had its price target lifted by investment analysts at Deutsche Bank Aktiengesellschaft from $17.00 to $18.00 in a research note issued on Thursday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 38.78% from the company’s previous close.

Separately, Wells Fargo & Company cut their price target on Tenneco from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, October 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $14.25.

TEN stock opened at $12.97 on Thursday. The company has a market capitalization of $1.07 billion, a P/E ratio of 4.52 and a beta of 2.46. Tenneco has a twelve month low of $9.51 and a twelve month high of $22.75. The business has a 50 day simple moving average of $11.68 and a 200-day simple moving average of $14.30. The company has a current ratio of 1.26, a quick ratio of 0.85 and a debt-to-equity ratio of 22.65.

Tenneco (NYSE:TEN) last posted its quarterly earnings data on Friday, November 5th. The auto parts company reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.02. Tenneco had a return on equity of 141.02% and a net margin of 1.30%. The business had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same period in the prior year, the company earned $0.33 earnings per share. The company’s revenue was up 1.8% compared to the same quarter last year. Research analysts predict that Tenneco will post 2.26 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. Zeke Capital Advisors LLC purchased a new position in Tenneco in the third quarter worth $158,000. UBS Asset Management Americas Inc. raised its position in Tenneco by 5.8% in the third quarter. UBS Asset Management Americas Inc. now owns 101,297 shares of the auto parts company’s stock worth $1,446,000 after acquiring an additional 5,517 shares in the last quarter. Moors & Cabot Inc. acquired a new stake in Tenneco in the third quarter valued at $26,000. Comerica Bank grew its holdings in Tenneco by 25.0% in the third quarter. Comerica Bank now owns 25,745 shares of the auto parts company’s stock valued at $360,000 after purchasing an additional 5,148 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC grew its holdings in Tenneco by 23.6% in the third quarter. Schonfeld Strategic Advisors LLC now owns 26,200 shares of the auto parts company’s stock valued at $374,000 after purchasing an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 70.02% of the company’s stock.

About Tenneco

Tenneco, Inc engages in the design, manufacture, market and sale of innovative clean air, powertrain and ride performance products and systems. It operates through the following segments: Clean Air, Powertrain, Ride Performance, and Motorparts. The Clean Air segment offers products and systems designed to reduce pollution and optimize engine performance, acoustic tuning, and weight on a vehicle for light vehicle, commercial truck, and off-highway original equipment customers.

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