Shares of Tennant Company (NYSE:TNC) have received a consensus recommendation of “Hold” from the five brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $65.00.
A number of analysts recently weighed in on the company. BidaskClub upgraded Tennant from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 6th. Zacks Investment Research upgraded Tennant from a “sell” rating to a “hold” rating in a research report on Thursday, April 27th. Finally, Jefferies Group LLC boosted their target price on Tennant from $62.00 to $65.00 and gave the stock a “hold” rating in a research report on Thursday, March 23rd.
In other Tennant news, CFO Thomas Paulson sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $73.95, for a total value of $554,625.00. Following the completion of the sale, the chief financial officer now owns 31,755 shares in the company, valued at $2,348,282.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Richard H. Zay sold 1,280 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $73.00, for a total value of $93,440.00. Following the completion of the sale, the senior vice president now owns 15,423 shares of the company’s stock, valued at approximately $1,125,879. The disclosure for this sale can be found here. Insiders sold 10,708 shares of company stock valued at $790,274 in the last quarter. Corporate insiders own 5.70% of the company’s stock.
Several institutional investors have recently bought and sold shares of TNC. Ameritas Investment Partners Inc. acquired a new position in Tennant during the first quarter valued at about $103,000. State of Alaska Department of Revenue boosted its position in Tennant by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 1,950 shares of the industrial products company’s stock valued at $141,000 after buying an additional 50 shares during the period. Victory Capital Management Inc. acquired a new position in Tennant during the first quarter valued at about $157,000. Mason Street Advisors LLC boosted its position in Tennant by 7.4% in the first quarter. Mason Street Advisors LLC now owns 4,138 shares of the industrial products company’s stock valued at $301,000 after buying an additional 285 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its position in Tennant by 30.4% in the first quarter. UBS Asset Management Americas Inc. now owns 5,583 shares of the industrial products company’s stock valued at $406,000 after buying an additional 1,300 shares during the period. 89.71% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Tennant (TNC) traded down 0.46% during trading on Monday, reaching $75.40. 80,743 shares of the company were exchanged. The company has a market capitalization of $1.34 billion, a PE ratio of 35.30 and a beta of 1.07. The firm’s 50 day moving average price is $72.56 and its 200 day moving average price is $71.53. Tennant has a one year low of $56.43 and a one year high of $76.80.
Tennant (NYSE:TNC) last released its earnings results on Monday, April 24th. The industrial products company reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.06. The company had revenue of $191.10 million during the quarter, compared to the consensus estimate of $181.82 million. Tennant had a return on equity of 17.52% and a net margin of 4.66%. Tennant’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS. Equities research analysts forecast that Tennant will post $2.52 earnings per share for the current fiscal year.
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Tennant Company Profile
Tennant Company is engaged in designing, manufacturing and marketing of cleaning solutions. The Company’s segments are Americas; Europe, Middle East, Africa, and Asia Pacific. The Company offers a range of products, including floor maintenance and outdoor cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair service, specialty surface coatings and asset management solutions.
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