Tennant (NYSE:TNC) Stock Rating Lowered by StockNews.com

Tennant (NYSE:TNC - Get Free Report) was downgraded by research analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a research note issued on Tuesday.

Tennant Stock Up 0.1 %

Shares of NYSE:TNC traded up $0.10 during midday trading on Tuesday, reaching $107.09. The company had a trading volume of 192,047 shares, compared to its average volume of 136,000. The stock has a market capitalization of $2.04 billion, a P/E ratio of 17.79 and a beta of 1.10. The stock's fifty day moving average price is $115.82 and its 200-day moving average price is $99.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.15 and a quick ratio of 1.46. Tennant has a one year low of $72.60 and a one year high of $124.11.

Tennant (NYSE:TNC - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.65. The firm had revenue of $311.40 million during the quarter, compared to analyst estimates of $309.87 million. Tennant had a return on equity of 23.16% and a net margin of 9.10%. Tennant's quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.46 earnings per share. Equities research analysts expect that Tennant will post 6.44 earnings per share for the current fiscal year.

Insider Activity at Tennant

In other Tennant news, SVP Kristin A. Erickson sold 556 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $110.00, for a total value of $61,160.00. Following the sale, the senior vice president now directly owns 10,698 shares of the company's stock, valued at $1,176,780. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Carol S. Eicher sold 2,298 shares of Tennant stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $116.45, for a total transaction of $267,602.10. Following the sale, the director now owns 25,540 shares of the company's stock, valued at $2,974,133. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Kristin A. Erickson sold 556 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $110.00, for a total value of $61,160.00. Following the completion of the transaction, the senior vice president now directly owns 10,698 shares of the company's stock, valued at $1,176,780. The disclosure for this sale can be found here. Insiders sold 17,597 shares of company stock worth $1,953,293 in the last 90 days. 2.40% of the stock is currently owned by company insiders.

Institutional Trading of Tennant

A number of institutional investors have recently made changes to their positions in TNC. Global Retirement Partners LLC raised its position in shares of Tennant by 1,272.2% during the first quarter. Global Retirement Partners LLC now owns 247 shares of the industrial products company's stock worth $30,000 after purchasing an additional 229 shares during the period. YHB Investment Advisors Inc. acquired a new stake in Tennant during the 1st quarter worth about $36,000. Creative Financial Designs Inc. ADV lifted its stake in Tennant by 142.4% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 652 shares of the industrial products company's stock valued at $60,000 after buying an additional 383 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Tennant in the fourth quarter worth about $64,000. Finally, Daiwa Securities Group Inc. increased its position in shares of Tennant by 118.0% in the third quarter. Daiwa Securities Group Inc. now owns 2,629 shares of the industrial products company's stock worth $195,000 after acquiring an additional 1,423 shares in the last quarter. 93.33% of the stock is owned by institutional investors and hedge funds.

About Tennant

Tennant Company, together with its subsidiaries, designs, manufactures, and markets floor cleaning equipment in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers a suite of products, including floor maintenance and cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair services, and asset management solutions.

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