Jefferies Reaffirms Their Hold Rating on Tenneco Automotive

In a report released yesterday, Bret Jordan from Jefferies reiterated a Hold rating on Tenneco Automotive (NYSE: TEN), with a price target of $62. The company’s shares closed yesterday at $54.66.

According to TipRanks.com, Jordan is a 4-star analyst with an average return of 8.3% and a 63.9% success rate. Jordan covers the Services sector, focusing on stocks such as Pep Boys-Manny Moe & Jack, Kar Auction Services Inc, and Genuine Parts Company.

Currently, the analyst consensus on Tenneco Automotive is Moderate Buy and the average price target is $66, representing a 20.7% upside.

In a report issued on August 30, RBC Capital also reiterated a Hold rating on the stock with a $61 price target.

Based on Tenneco Automotive’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $2.32 billion and GAAP net loss of $3 million. In comparison, last year the company earned revenue of $2.21 billion and had a net profit of $86 million.

Based on the recent corporate insider activity of 94 insiders, corporate insider sentiment is negative on the stock.

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Tenneco, Inc. designs, manufactures, and distributes emission control and ride control products and systems for the automotive original equipment market and the repair and replacement markets. It operates through the following segments: 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; Asia Pacific Ride Performance. These segments manufacture and distribute either ride control or emission control products primarily for the original equipment and aftermarket industries. Its brands include Monroe, Rancho, Clevite Elastomers, Marzocchi, Axios, Kinetic, and Fric-Rot for ride control products; and Walker, Fonos, DynoMax, Thrush, and Lukey for emission control products. The company was founded in 1996 and is headquartered in Lake Forest, IL.