Tenneco Inc (TEN) was Downgraded by Wells Fargo to ” Market Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Wells Fargo advised their investors in a research report released on Apr 27, 2016.
Many Wall Street Analysts have commented on Tenneco Inc. Company shares were Upgraded by Barclays on Feb 11, 2016 to ” Overweight”, Firm has raised the Price Target to $ 55 from a previous price target of $50 .
On the company’s financial health, Tenneco Inc reported $1.17 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $1.10. The company had revenue of $2136.00 million for the quarter, compared to analysts expectations of $2077.88 million. The company’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 EPS.
Tenneco Inc opened for trading at $49.57 and hit $50.6 on the upside on Friday, eventually ending the session at $50.23, with a gain of 0.90% or 0.45 points. The heightened volatility saw the trading volume jump to 5,08,217 shares. Company has a market cap of $2,889 M.
In a different news, on Jan 5, 2016, John E Kunz (Vice President and Controller) sold 4,480 shares at $45.24 per share price. According to the SEC, on Dec 15, 2015, Joseph A. Pomaranski (Senior Vice President) sold 8,080 shares at $47.86 per share price. On Mar 17, 2015, Timothy E Jackson (Executive Vice President) sold 29,308 shares at $55.65 per share price, according to the Form-4 filing with the securities and exchange commission.
Tenneco Inc. (Tenneco) 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 serves both original equipment vehicle manufacturers (OEMs) and the repair and replacement markets or aftermarket across the world. The Company operates in six segments: North America Clean Air; North America Ride Performance; Europe South America and India Clean Air; Europe South America and India Ride Performance; Asia Pacific Clean Air and Asia Pacific Ride Performance. The Companys various brands include Monroe Rancho Clevite Elastomers Marzocchi Axios Kinetic and Fric-Rot Walker XNOx Fonos DynoMax and Thrush clean air products. As a parts supplier it produces individual component parts for vehicles as well as groups of components that are combined as modules or systems within vehicles.