Rating Action: How Will Tenneco (NYSE:TEN) Stock React To Jefferies New Rating Coverage?

November 30, 2016 - By Marguerite Chambers

Rating Action: How Will Tenneco (NYSE:TEN) Stock React To Jefferies New Rating Coverage?

Why Jefferies Gives Tenneco (NYSE:TEN) $62.00 Price Target

In a analysts report revealed to investors today, Jefferies analysts began Tenneco (NYSE:TEN) coverage with a Hold rating, and a $62.00 PT.

Tenneco Inc (NYSE:TEN) Ratings Coverage

Out of 6 analysts covering Tenneco Inc (NYSE:TEN), 2 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 33% are positive. $73 is the highest target while $50 is the lowest. The $60.43 average target is 1.34% above today’s ($59.63) stock price. Tenneco Inc has been the topic of 16 analyst reports since July 30, 2015 according to StockzIntelligence Inc. The company was maintained on Tuesday, May 3 by Goldman Sachs. The rating was maintained by RBC Capital Markets with “Outperform” on Monday, October 26. Barclays Capital upgraded Tenneco Inc (NYSE:TEN) on Thursday, February 11 to “Overweight” rating. The stock of Tenneco Inc (NYSE:TEN) has “Sector Perform” rating given on Tuesday, December 15 by RBC Capital Markets. Wells Fargo downgraded the shares of TEN in a report on Wednesday, April 27 to “Market Perform” rating. The stock of Tenneco Inc (NYSE:TEN) has “Neutral” rating given on Wednesday, August 12 by Goldman Sachs. The stock of Tenneco Inc (NYSE:TEN) has “Equal Weight” rating given on Monday, January 25 by Barclays Capital.

About 100,200 shares traded hands. Tenneco Inc (NYSE:TEN) has risen 7.25% since April 27, 2016 and is uptrending. It has outperformed by 2.03% the S&P500.

Analysts await Tenneco Inc (NYSE:TEN) to report earnings on February, 14. They expect $1.41 EPS, up 1.44% or $0.02 from last year’s $1.39 per share. TEN’s profit will be $76.61 million for 10.57 P/E if the $1.41 EPS becomes a reality. After $1.53 actual EPS reported by Tenneco Inc for the previous quarter, Wall Street now forecasts -7.84% negative EPS growth.

Insitutional Activity: The institutional sentiment increased to 0.91 in Q2 2016. Its up 0.08, from 0.83 in 2016Q1. The ratio improved, as 29 funds sold all Tenneco Inc shares owned while 102 reduced positions. 36 funds bought stakes while 73 increased positions. They now own 51.36 million shares or 3.63% less from 53.30 million shares in 2016Q1.

Advsrs Asset Mngmt Inc, a Colorado-based fund reported 683 shares. Teacher Retirement Of Texas accumulated 0% or 8,064 shares. Royal Fincl Bank Of Canada, a Ontario – Canada-based fund reported 175,660 shares. Plante Moran Limited Liability Co has 0% invested in the company for 59 shares. Moreover, Hgk Asset Mgmt has 0.08% invested in Tenneco Inc (NYSE:TEN) for 12,203 shares. First Citizens National Bank And Trust has 8,921 shares for 0.04% of their US portfolio. Gabelli Funds Limited has 626,800 shares for 0.17% of their US portfolio. Smith Asset Mngmt L P last reported 39,070 shares in the company. Globeflex Capital L P accumulated 0.53% or 41,263 shares. Moreover, Convergence Investment Prns Lc has 0.1% invested in Tenneco Inc (NYSE:TEN) for 16,102 shares. Van Eck Associates holds 13,062 shares or 0% of its portfolio. Gargoyle Inv Advisor Lc holds 0.32% or 18,300 shares in its portfolio. National Bank & Trust Of America De owns 428,440 shares or 0% of their US portfolio. Weiss Multi has invested 0.14% of its portfolio in Tenneco Inc (NYSE:TEN). Parametrica Mgmt Limited has 1% invested in the company for 14,313 shares.

Insider Transactions: Since May 31, 2016, the stock had 0 buys, and 7 selling transactions for $5.30 million net activity. Another trade for 4,322 shares valued at $246,181 was sold by Kunz John E. 51,609 Tenneco Inc (NYSE:TEN) shares with value of $2.77 million were sold by Sherrill Gregg M. $1.68 million worth of Tenneco Inc (NYSE:TEN) was sold by PRICE DAVID B JR on Thursday, August 18. The insider Harrington James D. sold $332,623. Fornos Josep had sold 11,030 shares worth $650,770 on Wednesday, October 5. $178,848 worth of Tenneco Inc (NYSE:TEN) was sold by Guo Peng on Wednesday, September 14. The insider JACKSON TIMOTHY E sold $1.99M.

Tenneco Inc. 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 has a market cap of $3.24 billion. The Firm operates in six divisions: 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. It has a 8.68 P/E ratio. The Company’s various brands include Monroe, Rancho, Clevite Elastomers, Axios, Kinetic, Fric-Rot, Walker, XNOx, Fonos, DynoMax and Thrush clean air products.

According to Zacks Investment Research, “Tenneco is one of the world’s largest designers, manufacturers and marketers of emission control and ride control products and systems for the automotive original equipment market and the aftermarket. Tenneco markets its products principally under the Monroe, Walker, Gillet and CleviteElastomer brand names. Among its products are Sensa-Trac and Monroe Reflex shocks and struts, Rancho shock absorbers, Walker Quiet-Flow mufflers, Dynomax performance exhaust products, and Clevite®Elastomer noise, vibration and harshness control components.”

TEN Company Profile

Tenneco Inc. (Tenneco), incorporated on August 26, 1996, is a producer of clean air and ride performance products and systems for light vehicle, commercial truck, off-highway and other vehicle applications. The Firm serves both original equipment vehicle manufacturers (OEMs), and the repair and replacement markets or aftermarket across the world. The Firm operates in six divisions: 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, Axios, Kinetic, 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. It offers modules and systems to OEMs, commercial truck and off-highway engine manufacturers, and aftermarket distribution channels.

Another recent and important Tenneco Inc (NYSE:TEN) news was published by Benzinga.com which published an article titled: “Jefferies Favors BorgWarner And Delphi, Neutral On Tenneco” on November 30, 2016.

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