Tennant Company (TNC) Receives $65.00 Average Target Price from Brokerages

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.

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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.

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.

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