Tenneco Inc (TEN) is Reiterated by Deutsche Bank to Hold, Raises Price Target to $ 70

Tenneco Inc (TEN) was Reiterated by Deutsche Bank to “Hold” according to the research note released today. The brokerage firm has raised the Price Target to $ 70 from a previous price target of $67 . Deutsche Bank advised their investors in a research report released on Aug 1, 2016.

On the company’s financial health, Tenneco Inc reported $1.78 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on Jul 29, 2016. Analyst had a consensus of $1.63. The company had revenue of $2212.00 million for the quarter, compared to analysts expectations of $2253.70 million. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.39 EPS.

Tenneco Inc opened for trading at $54.6 and hit $57.3 on the upside on Friday, eventually ending the session at $56.52, with a gain of 6.18% or 3.29 points. The heightened volatility saw the trading volume jump to 16,54,248 shares. Company has a market cap of $3,238 M.

In a different news, on Jun 2, 2016, Gregg M Sherrill (Chairman & CEO) sold 51,609 shares at $54.22 per share price. According to the SEC, on May 10, 2016, Kenneth R Trammell (Exec. Vice President and CFO) sold 21,080 shares at $51.55 per share price. On May 6, 2016, Timothy E Jackson (Executive Vice President) sold 13,811 shares at $52.38 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 Company’s 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.

Tenneco Inc

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