Tenneco Inc (TEN) is Initiated by Jefferies to Hold, Price Target at $62

Tenneco Inc (TEN) was Initiated by Jefferies to “Hold” and the brokerage firm has set the Price Target at $62. Jefferies advised their investors in a research report released on Nov 30, 2016.

On the company’s financial health, Tenneco Inc reported $1.53 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Oct 28, 2016. Analyst had a consensus of $1.50. The company had revenue of $2100.00 million for the quarter, compared to analysts expectations of $2126.50 million. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.22 EPS.

Tenneco Inc closed down -0.73 points or -1.23% at $58.84 with 6,39,247 shares getting traded on Tuesday. Post opening the session at $59.04, the shares hit an intraday low of $58.7 and an intraday high of $59.61 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Oct 7, 2016, Josep Fornos (Executive Vice President) sold 11,030 shares at $59.00 per share price. According to the SEC, on Sep 16, 2016, Peng Guo (Senior Vice President) sold 3,186 shares at $56.13 per share price. On Sep 9, 2016, John E Kunz (Vice President and Controller) sold 4,322 shares at $56.96 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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