Tennant (NYSE:TNC - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.
Separately, Zacks Research raised Tennant to a "hold" rating in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Tennant has an average rating of "Moderate Buy" and an average target price of $125.00.
Check Out Our Latest Stock Report on Tennant
Tennant Price Performance
Shares of TNC stock traded up $1.24 during trading on Friday, hitting $82.21. The company had a trading volume of 3,497 shares, compared to its average volume of 148,071. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 25.59, a price-to-earnings-growth ratio of 1.75 and a beta of 1.09. The stock's 50-day moving average is $81.88 and its two-hundred day moving average is $78.20. The company has a quick ratio of 1.38, a current ratio of 2.09 and a debt-to-equity ratio of 0.33. Tennant has a 52 week low of $67.32 and a 52 week high of $98.52.
Tennant (NYSE:TNC - Get Free Report) last issued its earnings results on Wednesday, August 6th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.14). The firm had revenue of $318.60 million during the quarter, compared to analysts' expectations of $327.20 million. Tennant had a return on equity of 16.41% and a net margin of 4.84%.The firm's quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.83 EPS. As a group, analysts predict that Tennant will post 5.89 EPS for the current fiscal year.
Hedge Funds Weigh In On Tennant
Several institutional investors and hedge funds have recently modified their holdings of the stock. Albert D Mason Inc. increased its holdings in shares of Tennant by 2.0% during the first quarter. Albert D Mason Inc. now owns 10,011 shares of the industrial products company's stock valued at $798,000 after acquiring an additional 200 shares in the last quarter. Prentiss Smith & Co. Inc. increased its holdings in Tennant by 0.6% in the 1st quarter. Prentiss Smith & Co. Inc. now owns 39,781 shares of the industrial products company's stock worth $3,173,000 after buying an additional 218 shares in the last quarter. Accredited Investors Inc. increased its holdings in Tennant by 2.0% in the 1st quarter. Accredited Investors Inc. now owns 13,609 shares of the industrial products company's stock worth $1,085,000 after buying an additional 261 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Tennant by 6.0% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,789 shares of the industrial products company's stock worth $371,000 after buying an additional 273 shares in the last quarter. Finally, California State Teachers Retirement System increased its holdings in Tennant by 1.9% in the 2nd quarter. California State Teachers Retirement System now owns 16,650 shares of the industrial products company's stock worth $1,290,000 after buying an additional 306 shares in the last quarter. 93.33% of the stock is currently owned by institutional investors.
About Tennant
(
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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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