Tennant (NYSE:TNC) has been assigned a consensus rating of “Hold” from the six research firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to 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.
Several equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Tennant from a “strong sell” rating to a “hold” rating in a research note on Saturday, January 13th. Dougherty & Co reiterated a “neutral” rating on shares of Tennant in a research note on Sunday, November 12th.
In related news, insider Thomas Paulson sold 6,694 shares of the business’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $72.90, for a total value of $487,992.60. Following the completion of the transaction, the insider now directly owns 24,035 shares in the company, valued at approximately $1,752,151.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 5.70% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. lifted its stake in shares of 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 during the period. Flinton Capital Management LLC lifted its stake in shares of 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 during the period. Quantbot Technologies LP lifted its stake in shares of 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 during the period. OxFORD Asset Management LLP acquired a new position in shares of Tennant in the 2nd quarter valued at $206,000. Finally, Magnetar Financial LLC acquired a new position in shares of Tennant in the 3rd quarter valued at $204,000. Hedge funds and other institutional investors own 91.22% of the company’s stock.
Tennant (NYSE TNC) traded down $1.40 during mid-day trading on Friday, hitting $61.10. 117,735 shares of the stock traded hands, compared to its average volume of 128,398. The stock has a market cap of $1,109.47, a P/E ratio of 89.85, a P/E/G ratio of 2.72 and a beta of 0.91. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.09 and a quick ratio of 1.39. Tennant has a fifty-two week low of $60.05 and a fifty-two week high of $76.80.
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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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