Tenneco Inc (TEN) Receives Average Recommendation of “Hold” from Brokerages

Tenneco Inc (NYSE:TEN) has been assigned an average rating of “Hold” from the nine ratings firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $29.25.

Several research analysts have recently weighed in on TEN shares. Royal Bank of Canada dropped their price target on shares of Tenneco to $31.00 and set a “sector perform” rating on the stock in a research note on Friday, March 15th. They noted that the move was a valuation call. UBS Group dropped their price target on shares of Tenneco from $39.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, April 1st. Finally, Morgan Stanley dropped their price target on shares of Tenneco from $30.00 to $17.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 16th.

Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in shares of Tenneco by 14.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 22,679 shares of the auto parts company’s stock valued at $956,000 after buying an additional 2,864 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Tenneco by 1.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 457,211 shares of the auto parts company’s stock valued at $19,266,000 after buying an additional 7,669 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Tenneco by 635.5% during the 3rd quarter. Renaissance Technologies LLC now owns 161,800 shares of the auto parts company’s stock valued at $6,818,000 after buying an additional 139,800 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Tenneco by 2.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 243,686 shares of the auto parts company’s stock valued at $10,269,000 after buying an additional 5,915 shares in the last quarter. Finally, MetLife Investment Advisors LLC lifted its stake in shares of Tenneco by 55.7% during the 3rd quarter. MetLife Investment Advisors LLC now owns 35,194 shares of the auto parts company’s stock valued at $1,483,000 after buying an additional 12,589 shares in the last quarter. Institutional investors and hedge funds own 91.07% of the company’s stock.

Shares of Tenneco stock opened at $20.87 on Friday. The firm has a market cap of $1.25 billion, a PE ratio of 3.32, a price-to-earnings-growth ratio of 0.54 and a beta of 1.95. Tenneco has a 1-year low of $20.80 and a 1-year high of $48.63. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.89 and a current ratio of 1.41.

Tenneco (NYSE:TEN) last issued its quarterly earnings results on Thursday, March 14th. The auto parts company reported $1.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.46 by ($0.16). The business had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.27 billion. Tenneco had a return on equity of 34.88% and a net margin of 0.50%. The company’s revenue was up 78.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.89 EPS. As a group, equities analysts expect that Tenneco will post 5.06 EPS for the current fiscal year.

Tenneco Company Profile

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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