Tennant Company (NYSE:TNC) Upgraded at BidaskClub

BidaskClub upgraded shares of Tennant Company (NYSE:TNC) from a strong sell rating to a sell rating in a research note released on Thursday, July 6th.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Tennant Company from a sell rating to a hold rating in a research report on Thursday, April 27th. Jefferies Group LLC lifted their target price on shares of Tennant Company from $62.00 to $65.00 and gave the stock a hold rating in a research report on Thursday, March 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $69.00.

Shares of Tennant Company (NYSE TNC) traded down 0.33% during midday trading on Thursday, hitting $75.75. The stock had a trading volume of 73,267 shares. Tennant Company has a one year low of $56.43 and a one year high of $76.80. The company has a market cap of $1.35 billion, a P/E ratio of 34.59 and a beta of 1.07. The firm has a 50 day moving average of $72.56 and a 200-day moving average of $71.53.

Tennant Company (NYSE:TNC) last posted its quarterly earnings results on Monday, April 24th. The industrial products company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.06. Tennant Company had a net margin of 4.66% and a return on equity of 17.52%. The company had revenue of $191.10 million for the quarter, compared to the consensus estimate of $181.82 million. During the same period last year, the company posted $0.25 EPS. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, analysts forecast that Tennant Company will post $2.52 earnings per share for the current fiscal year.

WARNING: This piece of content was originally published by Transcript Daily and is the property of of Transcript Daily. If you are viewing this piece of content on another publication, it was illegally stolen and republished in violation of US & international trademark & copyright legislation. The original version of this piece of content can be viewed at https://transcriptdaily.com/2017/07/16/tennant-company-nysetnc-rating-increased-to-sell-at-bidaskclub-updated.html.

In related news, SVP Richard H. Zay sold 1,280 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $73.00, for a total value of $93,440.00. Following the transaction, the senior vice president now directly owns 15,423 shares of the company’s stock, valued at approximately $1,125,879. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Thomas Paulson sold 7,500 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $73.95, for a total value of $554,625.00. Following the sale, the chief financial officer now owns 31,755 shares in the company, valued at $2,348,282.25. The disclosure for this sale can be found here. Insiders sold a total of 10,708 shares of company stock valued at $790,274 in the last quarter. 5.70% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in TNC. State of Alaska Department of Revenue boosted its position in Tennant Company 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. Legal & General Group Plc raised its stake in shares of Tennant Company by 0.3% in the first quarter. Legal & General Group Plc now owns 31,365 shares of the industrial products company’s stock valued at $2,277,000 after buying an additional 91 shares in the last quarter. Albert D Mason Inc. raised its stake in shares of Tennant Company by 0.8% in the first quarter. Albert D Mason Inc. now owns 11,370 shares of the industrial products company’s stock valued at $826,000 after buying an additional 95 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Tennant Company by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 7,200 shares of the industrial products company’s stock valued at $523,000 after buying an additional 100 shares in the last quarter. Finally, Isthmus Partners LLC raised its stake in Tennant Company by 0.9% in the first quarter. Isthmus Partners LLC now owns 17,361 shares of the industrial products company’s stock worth $1,261,000 after buying an additional 148 shares during the period. Hedge funds and other institutional investors own 88.22% of the company’s stock.

About Tennant Company

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.

Receive News & Ratings for Tennant Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tennant Company and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply