Tennant (TNC) Given Consensus Recommendation of “Hold” by Brokerages

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.

TRADEMARK VIOLATION NOTICE: This story was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and international trademark and copyright law. The legal version of this story can be accessed at https://www.dispatchtribunal.com/2018/02/16/tennant-tnc-given-consensus-recommendation-of-hold-by-brokerages.html.

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.

Receive News & Ratings for Tennant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tennant and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply