Tenneco Inc (NYSE:TEN) Given Average Rating of “Hold” by Brokerages

Shares of Tenneco Inc (NYSE:TEN) have been given a consensus rating of “Hold” by the seven analysts that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $24.25.

A number of research firms have recently issued reports on TEN. UBS Group reduced their price target on shares of Tenneco from $28.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Morgan Stanley set a $9.00 price objective on Tenneco and gave the stock a “sell” rating in a research report on Wednesday, June 26th.

Shares of NYSE TEN traded up $1.10 during mid-day trading on Tuesday, hitting $9.00. The company had a trading volume of 4,289,210 shares, compared to its average volume of 1,394,754. The stock has a market cap of $464.42 million, a P/E ratio of 1.43 and a beta of 2.34. The company has a quick ratio of 0.85, a current ratio of 1.37 and a debt-to-equity ratio of 2.96. Tenneco has a 1-year low of $7.62 and a 1-year high of $47.22. The business’s 50-day moving average price is $9.73.

Tenneco (NYSE:TEN) last announced its quarterly earnings data on Tuesday, August 6th. The auto parts company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.27. Tenneco had a positive return on equity of 25.31% and a negative net margin of 0.85%. The business had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.47 billion. During the same period last year, the firm earned $1.92 earnings per share. The company’s revenue for the quarter was up 76.7% compared to the same quarter last year. As a group, analysts expect that Tenneco will post 3.97 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Investors Research Corp bought a new position in shares of Tenneco in the first quarter valued at approximately $30,000. Bartlett & Co. LLC acquired a new stake in Tenneco in the 1st quarter valued at about $44,000. Huntington National Bank increased its position in Tenneco by 56.0% in the 1st quarter. Huntington National Bank now owns 3,508 shares of the auto parts company’s stock valued at $78,000 after acquiring an additional 1,259 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in Tenneco in the 2nd quarter valued at about $110,000. Finally, James Investment Research Inc. increased its position in Tenneco by 145.8% in the 2nd quarter. James Investment Research Inc. now owns 11,442 shares of the auto parts company’s stock valued at $127,000 after acquiring an additional 6,787 shares in the last quarter. 89.98% of the stock is owned by institutional investors.

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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