Tennant Company (TNC) Receives Consensus Recommendation of “Hold” from Analysts

Tennant Company (NYSE:TNC) has been given an average rating of “Hold” by the six ratings firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $65.00.

TNC has been the subject of a number of analyst reports. BidaskClub downgraded Tennant from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Zacks Investment Research downgraded Tennant from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 9th. TheStreet downgraded Tennant from a “b-” rating to a “c+” rating in a research note on Wednesday, August 9th. Finally, Dougherty & Co reissued a “neutral” rating on shares of Tennant in a research note on Sunday, November 12th.

Shares of Tennant (NYSE:TNC) traded down $0.10 during mid-day trading on Friday, hitting $62.25. The stock had a trading volume of 90,715 shares, compared to its average volume of 142,691. The stock has a market cap of $1,111.26, a P/E ratio of 29.93, a price-to-earnings-growth ratio of 3.34 and a beta of 1.06. Tennant has a fifty-two week low of $60.05 and a fifty-two week high of $76.80. The company has a current ratio of 2.09, a quick ratio of 1.39 and a debt-to-equity ratio of 1.29.

Tennant (NYSE:TNC) last issued its earnings results on Thursday, November 2nd. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.29). The business had revenue of $261.92 million for the quarter, compared to analysts’ expectations of $252.13 million. Tennant had a return on equity of 13.07% and a net margin of 1.32%. The business’s quarterly revenue was up 30.9% on a year-over-year basis. During the same period last year, the company posted $0.64 earnings per share. analysts expect that Tennant will post 1.56 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Wednesday, November 29th. Tennant’s payout ratio is currently 123.53%.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. increased its stake in Tennant by 9.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,548 shares of the industrial products company’s stock valued at $114,000 after purchasing an additional 128 shares in the last quarter. Flinton Capital Management LLC increased its stake in Tennant by 85.7% in the 2nd quarter. Flinton Capital Management LLC now owns 1,768 shares of the industrial products company’s stock valued at $130,000 after purchasing an additional 816 shares in the last quarter. Riverhead Capital Management LLC increased its stake in Tennant by 86.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,865 shares of the industrial products company’s stock valued at $138,000 after purchasing an additional 865 shares in the last quarter. Quantbot Technologies LP increased its stake in Tennant by 1,013.0% in the 3rd quarter. Quantbot Technologies LP now owns 2,226 shares of the industrial products company’s stock valued at $147,000 after purchasing an additional 2,026 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in Tennant by 17.5% in the 2nd quarter. Victory Capital Management Inc. now owns 2,546 shares of the industrial products company’s stock valued at $188,000 after purchasing an additional 380 shares in the last quarter. 87.64% of the stock is owned by hedge funds and other institutional investors.

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.

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