Tenaris S.A. (NYSE:TS) has tumbled 0.25% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 7.19% in the last four weeks. In the past week, the company has outperformed the S&P 500 by 0.95% and the outperformance has advanced to 6.21% for the last 4 weeks period.
Tenaris S.A. (NYSE:TS): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $28.15 and $28.09 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $28.67. The buying momentum continued till the end and the stock did not give up its gains. It closed at $28.33, notching a gain of 2.72% for the day. The total traded volume was 2,214,496 . The stock had closed at $27.58 on the previous day.
The company shares have rallied 0.53% from its 1 Year high price. On Jun 8, 2016, the shares registered one year high at $29.69 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $26.67 and the 200 Day Moving Average price is recorded at $24.03.
Many analysts have stated their opinion on the company shares. Equity Analysts at the Brokerage Firm, Citigroup, upgrades their rating on the shares of Tenaris S.A. (NYSE:TS). Citigroup has a Neutral rating on the shares. Previously, the analysts had a Sell rating on the shares. As per the latest research report, the brokerage house raises the price target to $28 per share from a prior target of $19. The rating by the firm was issued on April 20, 2016. Currently the company Insiders own 0.2% of Tenaris S.A. shares according to the proxy statements. Institutional Investors own 16.36% of Tenaris S.A. shares.
Tenaris S.A is a holding company, which is engaged in the steel pipe manufacturing and distribution businesses. The Company produces and sells both seamless and welded steel tubular products and related services mainly for the oil and gas industry, particularly oil country tubular goods used in drilling operations, and for other industrial applications with production processes that consist in the transformation of steel into tubular products. It operates in geographical areas, which include North America, South America, Europe, Middle East, Africa, and Far East and Oceania. Its principal finished products are seamless and welded steel casing and tubing, line pipe and other mechanical and structural steel pipes for different uses. It also manufactures sucker rods used in oil extraction activities, industrial equipment of various specifications and applications, including liquid and gas storage equipment, and welded steel pipes for electric conduits used in the construction industry.