The stock of Tenneco Inc (NYSE:TEN) hit a new 52-week high and has $63.54 target or 5.00% above today’s $60.51 share price. The 9 months bullish chart indicates low risk for the $3.43B company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $63.54 price target is reached, the company will be worth $171.50 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 155,045 shares traded hands. Tenneco Inc (NYSE:TEN) has risen 21.68% since April 21, 2016 and is uptrending. It has outperformed by 16.35% 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 $79.93 million for 10.73 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.
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. RBC Capital Markets maintained Tenneco Inc (NYSE:TEN) rating on Monday, October 26. RBC Capital Markets has “Outperform” rating and $62 price target. The stock of Tenneco Inc (NYSE:TEN) has “Overweight” rating given on Thursday, February 11 by Barclays Capital. The rating was downgraded by RBC Capital Markets on Tuesday, December 15 to “Sector Perform”. As per Wednesday, August 12, the company rating was upgraded by Goldman Sachs. Goldman Sachs maintained the shares of TEN in a report on Tuesday, May 3 with “Neutral” rating. Wells Fargo downgraded Tenneco Inc (NYSE:TEN) on Wednesday, April 27 to “Market Perform” rating. The rating was maintained by Barclays Capital with “Equal Weight” on Monday, January 25.
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 increased to 0.91 in Q2 2016. Its up 0.08, from 0.83 in 2016Q1. The ratio is positive, 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.
Teachers Advsrs has 338,249 shares for 0.03% of their US portfolio. Teacher Retirement System Of Texas holds 0% of its portfolio in Tenneco Inc (NYSE:TEN) for 8,064 shares. Cubist Systematic Strategies Limited Co holds 0.08% of its portfolio in Tenneco Inc (NYSE:TEN) for 28,071 shares. Teton Advsrs reported 37,000 shares or 0.16% of all its holdings. Castleark Management Ltd Liability Corp, a Illinois-based fund reported 241,405 shares. Brandywine Inv Management Llc, a Pennsylvania-based fund reported 236,077 shares. Panagora Asset accumulated 0.1% or 424,510 shares. Dupont Cap Management Corporation holds 0.02% or 18,768 shares in its portfolio. California Employees Retirement, a California-based fund reported 183,900 shares. Scotia holds 17,383 shares or 0.02% of its portfolio. Nomura Asset Mgmt Ltd has 1,770 shares for 0% of their US portfolio. Valley Natl Advisers Inc accumulated 0% or 153 shares. Deere And Co accumulated 0.06% or 23,933 shares. Moreover, Engineers Gate Manager Limited Partnership has 0.17% invested in Tenneco Inc (NYSE:TEN) for 50,214 shares. Rhumbline Advisers accumulated 0.01% or 64,246 shares.
Insider Transactions: Since May 31, 2016, the stock had 0 buys, and 8 sales for $8.07 million net activity. Guo Peng sold $178,848 worth of stock or 3,186 shares. $1.99 million worth of Tenneco Inc (NYSE:TEN) was sold by JACKSON TIMOTHY E. Another trade for 51,609 shares valued at $2.77M was sold by Sherrill Gregg M. Shares for $1.68 million were sold by PRICE DAVID B JR. $332,623 worth of Tenneco Inc (NYSE:TEN) was sold by Harrington James D. on Tuesday, September 6. Shares for $650,770 were sold by Fornos Josep on Wednesday, October 5. The insider Kunz John E sold 4,000 shares worth $225,240.
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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