Dougherty & Co upgraded shares of Tennant (NYSE:TNC) from a neutral rating to a buy rating in a report released on Monday, MarketBeat reports.
Separately, Zacks Investment Research downgraded Tennant from a hold rating to a sell rating in a research report on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $65.00.
Shares of Tennant (NYSE TNC) opened at $64.40 on Monday. Tennant has a 12-month low of $59.00 and a 12-month high of $76.80. The firm has a market capitalization of $1,208.55, a PE ratio of -183.99, a P/E/G ratio of 2.98 and a beta of 0.91. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.25 and a current ratio of 1.79.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Tuesday, February 27th. Tennant’s dividend payout ratio (DPR) is presently -239.99%.
In other Tennant news, insider Thomas Paulson sold 6,694 shares of the stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $72.90, for a total value of $487,992.60. Following the completion of the sale, the insider now directly owns 24,035 shares in the company, valued at $1,752,151.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 5.70% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in TNC. Ameritas Investment Partners Inc. raised its stake in Tennant by 9.0% in the second quarter. Ameritas Investment Partners Inc. now owns 1,548 shares of the industrial products company’s stock valued at $114,000 after buying an additional 128 shares during the last quarter. Quantbot Technologies LP raised its stake in Tennant by 1,013.0% in the third quarter. Quantbot Technologies LP now owns 2,226 shares of the industrial products company’s stock valued at $147,000 after buying an additional 2,026 shares during the last quarter. Elkfork Partners LLC purchased a new stake in Tennant in the fourth quarter valued at about $155,000. Magnetar Financial LLC purchased a new stake in Tennant in the third quarter valued at about $204,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Tennant in the third quarter valued at about $221,000. Institutional investors own 89.66% of the company’s stock.
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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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