The stock of Tenneco Inc (NYSE:TEN) is a huge mover today! About 522,545 shares traded hands or 35.15% up from the average. Tenneco Inc (NYSE:TEN) has risen 21.79% since March 2, 2016 and is uptrending. It has outperformed by 13.53% the S&P500.
The move comes after 6 months positive chart setup for the $3.36B company. It was reported on Oct, 5 by Barchart.com. We have $80.34 PT which if reached, will make NYSE:TEN worth $1.18 billion more.
Analysts await Tenneco Inc (NYSE:TEN) to report earnings on October, 28. They expect $1.48 EPS, up 21.31% or $0.26 from last year’s $1.22 per share. TEN’s profit will be $83.56M for 10.05 P/E if the $1.48 EPS becomes a reality. After $1.78 actual EPS reported by Tenneco Inc for the previous quarter, Wall Street now forecasts -16.85% negative EPS growth.
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. Tenneco Inc has been the topic of 16 analyst reports since July 30, 2015 according to StockzIntelligence Inc. On Wednesday, April 27 the stock rating was downgraded by Wells Fargo to “Market Perform”. The firm earned “Neutral” rating on Tuesday, May 3 by Goldman Sachs. The firm earned “Equal Weight” rating on Monday, January 25 by Barclays Capital. The stock of Tenneco Inc (NYSE:TEN) earned “Sector Perform” rating by RBC Capital Markets on Tuesday, December 15. The firm has “Outperform” rating by RBC Capital Markets given on Monday, October 26. The firm has “Neutral” rating by Goldman Sachs given on Wednesday, August 12. Barclays Capital upgraded the stock to “Overweight” rating in Thursday, February 11 report.
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 CleviteÂ®Elastomer noise, vibration and harshness control components.”
Insitutional Activity: The institutional sentiment decreased to 0.83 in Q2 2016. Its down 0.34, from 1.17 in 2016Q1. The ratio turned negative, 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.
Rhumbline Advisers last reported 0.01% of its portfolio in the stock. Elk Creek Prtn Lc owns 86,299 shares or 0.36% of their US portfolio. Guggenheim Lc last reported 67,915 shares in the company. Us State Bank De reported 14,898 shares or 0% of all its holdings. Engineers Gate Manager Lp reported 50,214 shares or 0.17% of all its holdings. Gamco Invsts Et Al holds 692,668 shares or 0.21% of its portfolio. Millennium Mgmt Limited Liability Corporation accumulated 0.03% or 312,983 shares. Moreover, Ironbridge Capital Management Ltd Partnership has 0.26% invested in Tenneco Inc (NYSE:TEN) for 127,812 shares. The Illinois-based Peak6 Investments L P has invested 0% in Tenneco Inc (NYSE:TEN). Pictet Asset Management owns 304,150 shares or 0.06% of their US portfolio. First Republic Investment Mgmt accumulated 67,589 shares or 0.03% of the stock. Moreover, Kistler has 0% invested in Tenneco Inc (NYSE:TEN) for 5 shares. Stifel Fin holds 0.02% or 113,933 shares in its portfolio. Netols Asset Mngmt holds 1.24% of its portfolio in Tenneco Inc (NYSE:TEN) for 118,033 shares. Proshare Advsrs Limited Liability Company last reported 7,489 shares in the company.
Insider Transactions: Since May 3, 2016, the stock had 0 insider purchases, and 10 sales for $13.52 million net activity. Kunz John E also sold $246,181 worth of Tenneco Inc (NYSE:TEN) shares. PRICE DAVID B JR had sold 30,000 shares worth $1.68 million. On Wednesday, September 14 the insider Guo Peng sold $178,848. Another trade for 51,609 shares valued at $2.77 million was made by Sherrill Gregg M on Tuesday, May 31. $1.99M worth of Tenneco Inc (NYSE:TEN) was sold by JACKSON TIMOTHY E. TRAMMELL KENNETH R had sold 21,080 shares worth $1.09M. $332,623 worth of Tenneco Inc (NYSE:TEN) was sold by Harrington James D..
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.
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