Tennant (NYSE:TNC) Upgraded at Wall Street Zen

Key Points

• Tennant has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen in a recent report.
• The stock currently has a consensus rating of "Moderate Buy" with an average price target of $125.00.
• Tennant reported a quarterly EPS of $1.49, missing the consensus estimate of $1.63, and its revenue has decreased by 3.7% year-over-year.

Tennant (NYSE:TNC - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

Separately, Zacks Research raised shares of Tennant to a "hold" rating in a report 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's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $125.00.

Tennant Trading Down 0.0%

Shares of NYSE:TNC traded down $0.04 during trading on Friday, hitting $80.62. The company had a trading volume of 30,506 shares, compared to its average volume of 148,379. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 25.10, a price-to-earnings-growth ratio of 1.75 and a beta of 1.09. Tennant has a one year low of $67.32 and a one year high of $98.52. The company has a fifty day simple moving average of $81.92 and a two-hundred day simple moving average of $78.24. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.09 and a quick ratio of 1.38.

Tennant (NYSE:TNC - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $1.49 earnings per share for the quarter, missing analysts' consensus estimates of $1.63 by ($0.14). The business had revenue of $318.60 million for 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 business's revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.83 earnings per share. As a group, equities analysts forecast that Tennant will post 5.89 earnings per share for the current year.

Institutional Trading of Tennant

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Wyoming acquired a new position in Tennant during the second quarter worth $73,000. Public Sector Pension Investment Board lifted its stake in shares of Tennant by 6.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 63,623 shares of the industrial products company's stock valued at $4,930,000 after purchasing an additional 3,817 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in Tennant by 4.9% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 24,425 shares of the industrial products company's stock valued at $1,897,000 after acquiring an additional 1,134 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Tennant by 40.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,492 shares of the industrial products company's stock valued at $193,000 after buying an additional 722 shares in the last quarter. Finally, Corient Private Wealth LLC bought a new position in shares of Tennant during the 2nd quarter valued at $1,213,000. 93.33% of the stock is currently owned by 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.