Tenneco Inc. [TEN] gain 75.84% so far this year. What now?

Tenneco Inc. [NYSE: TEN] gained 0.10% or 0.02 points to close at $19.87 with a heavy trading volume of 4459930 shares. The company report on November 10, 2022 that Tenneco Announces Extension of Redemption Date for 5⅜% Senior Notes due 2024 and 5.0% Senior Notes due 2026.


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Tenneco Inc. (NYSE: TEN) (“Tenneco”) today announced that it has extended the redemption date for its previously announced full redemption of all of its outstanding 5⅜% Senior Notes due 2024 (the “2024 Notes”) and all of its outstanding 5.0% Senior Notes due 2026 (the “2026 Notes” and, together with the 2024 Notes, the “Notes”) from the scheduled date on November 14, 2022 to November 17, 2022, subject to being further extended or rescinded if the conditions set forth in Tenneco’s New Conditional Notice of Redemption issued on October 6, 2022 (the “Notice of Redemption”) have not been satisfied or waived by such date.

The aggregate principal amount outstanding of the 2024 Notes is $225,000,000. The redemption price for the 2024 Notes will be equal to 100.896% of the principal amount thereof, plus accrued and unpaid interest on such Notes from June 15, 2022 (the most recent interest payment date) to, but excluding, the redemption date.

It opened the trading session at $19.85, the shares rose to $19.91 and dropped to $19.85, the range by which the price of stock traded the whole day. The daily chart for TEN points out that the company has recorded 21.45% gains over the past six months. However, it is still -108.94% lower than its most recent low trading price.

If we look at the average trading volume of 1.95M shares, TEN reached to a volume of 4459930 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Tenneco Inc. [TEN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TEN shares is $20.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TEN stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Tenneco Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on June 28, 2022. The new note on the price target was released on February 25, 2022, representing the official price target for Tenneco Inc. stock. Previously, the target price had yet another raise to $13, while Jefferies analysts kept a Buy rating on TEN stock.

The Average True Range (ATR) for Tenneco Inc. is set at 0.23, with the Price to Sales ratio for TEN stock in the period of the last 12 months amounting to 0.09.

Trading performance analysis for TEN stock

Tenneco Inc. [TEN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.15. With this latest performance, TEN shares gained by 8.11% in over the last four-week period, additionally plugging by 21.45% over the last 6 months – not to mention a rise of 54.03% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TEN stock in for the last two-week period is set at 70.18, with the RSI for the last a single of trading hit 77.05, and the three-weeks RSI is set at 65.16 for Tenneco Inc. [TEN]. The present Moving Average for the last 50 days of trading for this stock 18.75, while it was recorded at 19.86 for the last single week of trading, and 17.40 for the last 200 days.

Tenneco Inc. [TEN]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Tenneco Inc. [TEN] shares currently have an operating margin of +2.74 and a Gross Margin at +9.96. Tenneco Inc.’s Net Margin is presently recorded at +0.19.

Tenneco Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 1.20.

An analysis of insider ownership at Tenneco Inc. [TEN]

There are presently around $1,415 million, or 83.80% of TEN stock, in the hands of institutional investors. The top three institutional holders of TEN stocks are: VANGUARD GROUP INC with ownership of 7,683,344, which is approximately 6.532% of the company’s market cap and around 0.30% of the total institutional ownership; PENTWATER CAPITAL MANAGEMENT LP, holding 5,803,000 shares of the stock with an approximate value of $115.31 million in TEN stocks shares; and BLACKROCK INC., currently with $111.45 million in TEN stock with ownership of nearly 18.81% of the company’s market capitalization.

Positions in Tenneco Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 117 institutional holders increased their position in Tenneco Inc. [NYSE:TEN] by around 16,803,266 shares. Additionally, 98 investors decreased positions by around 13,289,567 shares, while 28 investors held positions by with 41,137,324 shares. The mentioned changes placed institutional holdings at 71,230,157 shares, according to the latest SEC report filing. TEN stock had 34 new institutional investments in for a total of 8,829,862 shares, while 43 institutional investors sold positions of 6,863,984 shares during the same period.

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