Tennant (TNC) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Tennant (NYSE:TNC) from a strong sell rating to a hold rating in a research report sent to investors on Saturday, January 13th.

According to Zacks, “Tennant Company is a world leader in designing, manufacturing and marketing solutions that empower customers to achieve quality cleaning performance, significantly reduce their environmental impact and help create a cleaner, safer, healthier world. Its products include equipment for maintaining surfaces in industrial, commercial and outdoor environments; detergent-free and other sustainable cleaning technologies; and coatings for protecting, repairing and upgrading surfaces. Tennant’s global field service network is the most extensive in the industry. Tennant has manufacturing operations in Minneapolis, MN; Holland, MI; Louisville, KY; Chicago, IL; Uden, The Netherlands; São Paulo, Brazil; and Shanghai, China; and sells products directly in 15 countries and through distributors in more than 80 countries. “

Separately, Dougherty & Co reissued a neutral rating on shares of Tennant in a report on Sunday, November 12th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The company currently has an average rating of Hold and a consensus target price of $65.00.

Shares of Tennant (TNC) traded up $0.90 during mid-day trading on Friday, hitting $72.50. The company’s stock had a trading volume of 138,851 shares, compared to its average volume of 95,840. The company has a quick ratio of 1.39, a current ratio of 2.09 and a debt-to-equity ratio of 1.29. Tennant has a one year low of $60.05 and a one year high of $76.80. The stock has a market cap of $1,294.27, a P/E ratio of 106.62, a P/E/G ratio of 3.17 and a beta of 1.04.

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

In other Tennant news, insider Thomas Paulson sold 6,694 shares of the business’s stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $72.90, for a total transaction of $487,992.60. Following the completion of the sale, the insider now owns 24,035 shares of the company’s stock, valued at $1,752,151.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.70% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. boosted its position in shares of Tennant by 9.0% in the second quarter. Ameritas Investment Partners Inc. now owns 1,548 shares of the industrial products company’s stock worth $114,000 after buying an additional 128 shares during the period. Flinton Capital Management LLC boosted its holdings in Tennant by 85.7% in the second 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 during the last quarter. Riverhead Capital Management LLC boosted its holdings in Tennant by 86.5% in the second 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 during the last quarter. Quantbot Technologies LP boosted its holdings in Tennant by 1,013.0% in the third 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 during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Tennant by 17.5% in the second 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 during the last quarter. 91.59% of the stock is owned by institutional investors.

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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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