RBC Capital Sticks to Its Hold Rating for Tenneco Automotive (TEN)

In a report issued on February 24, Joseph Spak from RBC Capital maintained a Hold rating on Tenneco Automotive (TENResearch Report), with a price target of $13.00. The company’s shares closed last Thursday at $11.25, close to its 52-week high of $12.94.

According to TipRanks.com, Spak has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -8.7% and a 56.8% success rate. Spak covers the Industrial Goods sector, focusing on stocks such as American Axle, Dana Holding, and BorgWarner.

Currently, the analyst consensus on Tenneco Automotive is a Hold with an average price target of $13.00, implying a 14.1% upside from current levels. In a report released yesterday, Deutsche Bank also maintained a Hold rating on the stock with a $15.00 price target.

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Based on Tenneco Automotive’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $4.26 billion and GAAP net loss of $499 million. In comparison, last year the company earned revenue of $4.32 billion and had a net profit of $70 million.

Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TEN in relation to earlier this year.

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Tenneco, Inc. engages in the design, manufacture, and distribution of engineered products for both original equipment vehicle manufacturers 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; and Asia Pacific Ride Performance. 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 on April 1, 1940 and is headquartered in Lake Forest, IL.