Tennant Company (NYSE:TNC) Downgraded by BidaskClub

Tennant Company (NYSE:TNC) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Monday.

Separately, Zacks Investment Research raised shares of Tennant from a “sell” rating to a “hold” rating in a research report on Thursday, April 27th. One investment 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. Tennant presently has a consensus rating of “Hold” and an average target price of $69.00.

Shares of Tennant (TNC) traded down 0.07% during mid-day trading on Monday, hitting $73.90. The company had a trading volume of 78,276 shares. Tennant has a 52-week low of $59.77 and a 52-week high of $76.80. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 34.60 and a beta of 1.07. The firm has a 50-day moving average price of $74.09 and a 200 day moving average price of $71.81.

Tennant (NYSE:TNC) last released its quarterly earnings data on Monday, April 24th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.06. The business had revenue of $191.10 million during the quarter, compared to analysts’ expectations of $181.82 million. Tennant had a net margin of 4.66% and a return on equity of 17.52%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.25 EPS. Analysts expect that Tennant will post $2.52 earnings per share for the current year.

WARNING: “Tennant Company (NYSE:TNC) Downgraded by BidaskClub” was first published by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this piece on another publication, it was copied illegally and reposted in violation of U.S. and international trademark & copyright legislation. The original version of this piece can be read at https://sportsperspectives.com/2017/07/24/tennant-company-nysetnc-downgraded-by-bidaskclub.html.

In related news, Director Carol S. Eicher sold 1,928 shares of the business’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $73.76, for a total value of $142,209.28. Following the completion of the sale, the director now directly owns 9,263 shares of the company’s stock, valued at $683,238.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Richard H. Zay sold 1,280 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $73.00, for a total transaction of $93,440.00. Following the completion of the sale, the senior vice president now directly owns 15,423 shares of the company’s stock, valued at $1,125,879. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,708 shares of company stock valued at $790,274. 5.70% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. bought a new stake in shares of Tennant during the first quarter worth $103,000. State of Alaska Department of Revenue boosted its stake in shares of 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 worth $141,000 after buying an additional 50 shares during the period. Victory Capital Management Inc. bought a new stake in shares of Tennant during the first quarter worth $157,000. Mason Street Advisors LLC boosted its stake in shares of Tennant by 7.4% in the first quarter. Mason Street Advisors LLC now owns 4,138 shares of the industrial products company’s stock worth $301,000 after buying an additional 285 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of 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 worth $406,000 after buying an additional 1,300 shares during the period. 89.57% of the stock is owned by hedge funds and other institutional investors.

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.

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.

Latest News

Leave a Reply