Shares of Tennant Company (NYSE:TNC) have received a consensus rating of “Hold” from the six research firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $65.00.
A number of equities analysts have issued reports on TNC shares. Zacks Investment Research lowered Tennant from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 9th. BidaskClub raised Tennant from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 2nd. TheStreet lowered Tennant from a “b-” rating to a “c+” rating in a research report on Wednesday, August 9th. Finally, Dougherty & Co reaffirmed a “neutral” rating on shares of Tennant in a research report on Sunday, November 12th.
Several hedge funds have recently bought and sold shares of TNC. Ameritas Investment Partners Inc. raised its position in shares of Tennant by 9.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,548 shares of the industrial products company’s stock valued at $114,000 after acquiring an additional 128 shares in the last quarter. Flinton Capital Management LLC raised its position in shares of Tennant by 85.7% during the 2nd quarter. Flinton Capital Management LLC now owns 1,768 shares of the industrial products company’s stock valued at $130,000 after acquiring an additional 816 shares in the last quarter. Riverhead Capital Management LLC raised its position in shares of Tennant by 86.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,865 shares of the industrial products company’s stock valued at $138,000 after acquiring an additional 865 shares in the last quarter. Quantbot Technologies LP raised its position in shares of Tennant by 1,013.0% during the 3rd quarter. Quantbot Technologies LP now owns 2,226 shares of the industrial products company’s stock valued at $147,000 after acquiring an additional 2,026 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Tennant by 17.5% during the 2nd quarter. Victory Capital Management Inc. now owns 2,546 shares of the industrial products company’s stock valued at $188,000 after acquiring an additional 380 shares in the last quarter. 87.64% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Tennant (NYSE:TNC) traded up $0.10 on Friday, hitting $62.80. The company’s stock had a trading volume of 91,100 shares, compared to its average volume of 79,818. Tennant has a one year low of $60.05 and a one year high of $76.80. The firm has a market cap of $1,119.29, a price-to-earnings ratio of 30.14, a price-to-earnings-growth ratio of 3.36 and a beta of 1.06. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.39 and a current ratio of 2.09.
Tennant (NYSE:TNC) last announced its earnings results on Thursday, November 2nd. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.29). Tennant had a net margin of 1.32% and a return on equity of 13.07%. The business had revenue of $261.92 million during the quarter, compared to analyst estimates of $252.13 million. During the same period in the previous year, the company earned $0.64 earnings per share. The business’s revenue for the quarter was up 30.9% on a year-over-year basis. analysts anticipate that Tennant will post 1.56 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Wednesday, November 29th. Tennant’s dividend payout ratio is currently 123.53%.
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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