Tennant Company (NYSE:TNC) has been given a consensus recommendation of “Hold” by the five research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $65.00.
Several equities research analysts have recently commented on the stock. TheStreet lowered shares of Tennant from a “b-” rating to a “c+” rating in a research report on Wednesday, August 9th. Zacks Investment Research lowered shares of Tennant from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, BidaskClub raised shares of Tennant from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 6th.
COPYRIGHT VIOLATION NOTICE: This article was first posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this article on another publication, it was stolen and reposted in violation of US and international copyright law. The original version of this article can be viewed at https://www.dispatchtribunal.com/2017/10/28/tennant-company-tnc-receives-65-00-average-target-price-from-brokerages.html.
Tennant (NYSE TNC) traded down 0.57% during trading on Wednesday, hitting $70.10. 59,360 shares of the stock traded hands. Tennant has a 52-week low of $60.05 and a 52-week high of $76.80. The company has a market cap of $1.25 billion, a P/E ratio of 61.60 and a beta of 1.13. The firm has a 50-day moving average price of $65.90 and a 200 day moving average price of $69.55.
Tennant (NYSE:TNC) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.60 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.19). Tennant had a net margin of 2.32% and a return on equity of 15.39%. The business had revenue of $270.79 million for the quarter, compared to analysts’ expectations of $268.32 million. During the same period in the previous year, the company earned $0.85 EPS. Tennant’s revenue for the quarter was up 24.9% compared to the same quarter last year. On average, equities analysts expect that Tennant will post $2.29 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. purchased a new stake in Tennant in the 1st quarter worth approximately $103,000. Flinton Capital Management LLC increased its holdings 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 worth $130,000 after acquiring an additional 816 shares in the last quarter. Riverhead Capital Management LLC increased its holdings 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 worth $138,000 after acquiring an additional 865 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in Tennant in the 1st quarter worth approximately $157,000. Finally, OxFORD Asset Management LLP purchased a new stake in Tennant in the 2nd quarter worth approximately $206,000. 87.89% of the stock is owned by institutional investors.
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.