Somewhat Favorable News Coverage Unlikely to Impact Tennant (TNC) Stock Price

News coverage about Tennant (NYSE:TNC) has trended somewhat positive on Tuesday, Accern reports. The research firm rates the sentiment of news coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Tennant earned a coverage optimism score of 0.12 on Accern’s scale. Accern also gave news headlines about the industrial products company an impact score of 32 out of 100, indicating that recent news coverage is unlikely to have an impact on the stock’s share price in the next several days.

Here are some of the news headlines that may have impacted Accern’s analysis:

Several analysts recently commented on TNC shares. Zacks Investment Research raised shares of Tennant from a “sell” rating to a “hold” rating in a research note on Thursday, April 27th. Jefferies Group LLC boosted their price target on shares of Tennant from $62.00 to $65.00 and gave the company a “hold” rating in a report on Thursday, March 23rd. Finally, BidaskClub upgraded shares of Tennant from a “strong sell” rating to a “sell” rating in a report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Tennant currently has a consensus rating of “Hold” and an average price target of $69.00.

Tennant (TNC) opened at 75.40 on Tuesday. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 35.30 and a beta of 1.07. Tennant has a 1-year low of $56.43 and a 1-year high of $76.80. The firm has a 50-day moving average of $72.56 and a 200 day moving average of $71.53.

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

In related news, SVP Richard H. Zay sold 1,280 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was 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 in the company, valued at approximately $1,125,879. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carol S. Eicher sold 1,928 shares of Tennant stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $73.76, for a total value of $142,209.28. Following the completion of the transaction, the director now directly owns 9,263 shares in the company, valued at $683,238.88. 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 90 days. 5.70% of the stock is currently owned by corporate insiders.

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About Tennant

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.

Insider Buying and Selling by Quarter for Tennant (NYSE:TNC)

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