Tennant (NYSE:TNC) Rating Increased to Strong-Buy at StockNews.com

Tennant (NYSE:TNC - Get Free Report) was upgraded by equities researchers at StockNews.com from a "buy" rating to a "strong-buy" rating in a research report issued on Wednesday.

Tennant Stock Performance

Shares of NYSE TNC traded up $0.18 during trading on Wednesday, reaching $105.93. 111,934 shares of the stock traded hands, compared to its average volume of 134,456. Tennant has a 52-week low of $72.60 and a 52-week high of $124.11. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.15 and a quick ratio of 1.46. The company has a 50-day moving average of $115.28 and a 200-day moving average of $100.20. The stock has a market capitalization of $2.01 billion, a P/E ratio of 17.60 and a beta of 1.10.

Tennant (NYSE:TNC - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.65. Tennant had a return on equity of 23.16% and a net margin of 9.10%. The company had revenue of $311.40 million for the quarter, compared to analyst estimates of $309.87 million. During the same period in the previous year, the company posted $1.46 EPS. The firm's revenue for the quarter was up 7.0% compared to the same quarter last year. Analysts forecast that Tennant will post 6.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tennant news, SVP Kristin A. Erickson sold 556 shares of the company's stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $110.00, for a total value of $61,160.00. Following the transaction, the senior vice president now directly owns 10,698 shares in the company, valued at approximately $1,176,780. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Richard H. Zay sold 14,743 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $110.19, for a total transaction of $1,624,531.17. Following the transaction, the insider now directly owns 11,095 shares in the company, valued at approximately $1,222,558.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kristin A. Erickson sold 556 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $110.00, for a total value of $61,160.00. Following the transaction, the senior vice president now owns 10,698 shares in the company, valued at $1,176,780. The disclosure for this sale can be found here. Insiders have sold 17,597 shares of company stock worth $1,953,293 in the last ninety days. 2.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tennant

Institutional investors have recently bought and sold shares of the stock. Global Retirement Partners LLC lifted its holdings in Tennant by 1,272.2% in the 1st quarter. Global Retirement Partners LLC now owns 247 shares of the industrial products company's stock worth $30,000 after buying an additional 229 shares during the period. YHB Investment Advisors Inc. purchased a new stake in Tennant in the 1st quarter worth approximately $36,000. Creative Financial Designs Inc. ADV lifted its holdings in Tennant by 142.4% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 652 shares of the industrial products company's stock worth $60,000 after buying an additional 383 shares during the period. Quest Partners LLC purchased a new stake in Tennant in the 4th quarter worth approximately $64,000. Finally, Daiwa Securities Group Inc. lifted its holdings in Tennant by 118.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 2,629 shares of the industrial products company's stock worth $195,000 after buying an additional 1,423 shares during the period. 93.33% of the stock is currently owned by hedge funds and other institutional investors.

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.