RBC Capital Sticks to Their Hold Rating for Tenneco Automotive

RBC Capital analyst Joseph Spak reiterated a Hold rating on Tenneco Automotive (NYSE: TEN) on October 16 and set a price target of $62. The company’s shares closed yesterday at $62.03.

According to TipRanks.com, Spak is a 5-star analyst with an average return of 15.6% and a 71.4% success rate. Spak covers the Industrial Goods sector, focusing on stocks such as Metaldyne Performance Group, Magna International, and Delphi Automotive.

Tenneco Automotive has an analyst consensus of Moderate Buy, with a price target consensus of $65.67.

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 $2.1 billion and had a net profit of $180 million.

Based on the recent corporate insider activity of 102 insiders, corporate insider sentiment is negative on the stock. Last month, John Kunz, the VP & Controller of TEN sold 9,573 shares for a total of $545,661.

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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.