Stay Ahead of Wall Street. Find out what is happening to Tenneco Inc. (NYSE:TEN) stock today? Its price is jumping 0.62 points, trading at $12.89 levels, and is up 5.01% from its previous close of $12.27. The shares seem to have an active trading volume day with a reported 1644593 contracts so far this session. TEN shares had a relatively better volume day versus average trading capacity of 1.43 million shares, but with a 32.02 million float and a 40.71% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for TEN stock indicates that the average analyst price target is $12.6 per share. This means the stock has a potential decrease of -2.25% from where the TEN share price has been trading recently which is between $10.8 and $12.41. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $9.
The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Champion® Reminds Consumers to Be Proactive about Vehicle Maintenance” and dated September 05, 2019.
During the recent trading session for Tenneco Inc. (NYSE:TEN), the company witnessed their stock rise $4.52 over a week and surge $2.87 from the price 20 days ago. When compared to their established 52-week high of $47.22, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 09/21/18. The recent low of $7.62 stood for a -72.71% since 08/05/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.34 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Tenneco Inc., the two-week RSI stands at 77.55. This figure suggests that TEN stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current TEN readings is similarly very revealing as it has a stochastic reading of 98.37% at this stage. This figure means that TEN share price today is being oversold.
Technical chart claims that Tenneco Inc. (TEN) would settle between $12.85/share to $13.44/share level. However, if the stock price goes below the $11.24 mark, then the market for Tenneco Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $10.22 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 2.14. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Morgan Stanley raised their recommendation on shares of TEN from Underweight to Equal-Weight in their opinion released on August 14. Morgan Stanley analysts have lowered their rating of Tenneco Inc. (NYSE:TEN) stock from Equal-Weight to Underweight in a separate flash note issued to investors on November 14. Analysts at Wolfe Research, made their first call for the equity with a Peer Perform recommendation, according to a research note that dated back to October 02.
TEN equity has an average rating of 2.2, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 3 rated the stock as a hold while the remaining 2 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 2 analysts rated Tenneco Inc. (NYSE:TEN) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, TEN stock price is currently trading at 2.45X forward 12-month Consensus EPS estimates, and its P/E ratio is 2.6 while for the average stock in the same group, the multiple is 7.59. Tenneco Inc. current P/B ratio of 0.38 means it is trading at a discount against its industry’s 1.36.
Tenneco Inc. (TEN)’s current-quarter revenues are projected to climb by nearly 82.8% to hit $4.34 billion, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 50.34% from $11.76 billion to a noteworthy $17.68 billion. At the other end of the current quarter income statement, Tenneco Inc. is expected to see its adjusted earnings surge by roughly -34.71% to hit $1.11 per share. For the fiscal year, TEN’s earnings are projected to climb by roughly -35.83% to hit $4.03 per share.