Zacks Investment Research upgraded shares of Tennant (NYSE:TNC) from a strong sell rating to a hold rating in a research report released on Saturday morning.
According to Zacks, “Tennant Company is a world leader in designing, manufacturing and marketing solutions that empower customers to achieve quality cleaning performance, significantly reduce their environmental impact and help create a cleaner, safer, healthier world. Its products include equipment for maintaining surfaces in industrial, commercial and outdoor environments; detergent-free and other sustainable cleaning technologies; and coatings for protecting, repairing and upgrading surfaces. Tennant’s global field service network is the most extensive in the industry. Tennant has manufacturing operations in Minneapolis, MN; Holland, MI; Louisville, KY; Chicago, IL; Uden, The Netherlands; São Paulo, Brazil; and Shanghai, China; and sells products directly in 15 countries and through distributors in more than 80 countries. “
Separately, Dougherty & Co reaffirmed a neutral rating on shares of Tennant in a research report on Sunday, November 12th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The company has an average rating of Hold and an average price target of $65.00.
Tennant (NYSE:TNC) last released its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.29). Tennant had a net margin of 1.32% and a return on equity of 13.07%. The business had revenue of $261.92 million during the quarter, compared to analyst estimates of $252.13 million. During the same period in the previous year, the business earned $0.64 earnings per share. The business’s quarterly revenue was up 30.9% on a year-over-year basis. sell-side analysts anticipate that Tennant will post 1.56 EPS for the current year.
In related news, insider Thomas Paulson sold 6,694 shares of Tennant stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $72.90, for a total transaction of $487,992.60. Following the completion of the sale, the insider now directly owns 24,035 shares of the company’s stock, valued at approximately $1,752,151.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 5.70% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. lifted its holdings in Tennant by 9.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,548 shares of the industrial products company’s stock worth $114,000 after purchasing an additional 128 shares during the last quarter. Flinton Capital Management LLC lifted its holdings in Tennant by 85.7% during the 2nd quarter. Flinton Capital Management LLC now owns 1,768 shares of the industrial products company’s stock worth $130,000 after purchasing an additional 816 shares during the last quarter. Riverhead Capital Management LLC lifted its holdings in Tennant by 86.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,865 shares of the industrial products company’s stock worth $138,000 after purchasing an additional 865 shares during the last quarter. Quantbot Technologies LP lifted its holdings in Tennant by 1,013.0% during the 3rd quarter. Quantbot Technologies LP now owns 2,226 shares of the industrial products company’s stock worth $147,000 after purchasing an additional 2,026 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Tennant by 17.5% during the 2nd quarter. Victory Capital Management Inc. now owns 2,546 shares of the industrial products company’s stock worth $188,000 after purchasing an additional 380 shares during the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION WARNING: This article was first posted by Ticker Report and is owned by of Ticker Report. If you are accessing this article on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright laws. The correct version of this article can be viewed at https://www.tickerreport.com/banking-finance/3140643/tennant-tnc-lifted-to-hold-at-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Tennant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tennant and related companies with MarketBeat.com's FREE daily email newsletter.