Weiss Ratings Reaffirms Hold (C) Rating for Tennant (NYSE:TNC)

Key Points

• Weiss Ratings has reiterated its "hold" rating for Tennant (NYSE:TNC), indicating continued cautious support for the stock amid mixed analyst opinions.
• In its latest earnings report, Tennant missed earnings per share estimates by $0.14, reporting $1.49 EPS against expectations of $1.63.
• Tennant's stock is currently valued at $79.43, with a year-to-date high of $95.29 and a consensus rating of "Hold" from analysts.

Tennant (NYSE:TNC - Get Free Report)'s stock had its "hold (c)" rating reiterated by research analysts at Weiss Ratings in a report released on Tuesday,Weiss Ratings reports.

A number of other equities research analysts have also weighed in on the company. Zacks Research raised Tennant to a "hold" rating in a research report on Tuesday, August 12th. Wall Street Zen raised Tennant from a "hold" rating to a "buy" rating in a research report on Saturday, September 20th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $125.00.

Tennant Trading Up 0.9%

Shares of TNC stock traded up $0.70 on Tuesday, reaching $79.43. 21,425 shares of the company's stock were exchanged, compared to its average volume of 143,741. Tennant has a 52 week low of $67.32 and a 52 week high of $95.29. The company has a current ratio of 2.09, a quick ratio of 1.38 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $1.47 billion, a PE ratio of 24.73, a P/E/G ratio of 1.70 and a beta of 1.06. The company's fifty day simple moving average is $81.72 and its 200 day simple moving average is $77.98.

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 for the quarter, missing analysts' consensus estimates of $1.63 by ($0.14). The firm had revenue of $318.60 million for the quarter, compared to the consensus estimate of $327.20 million. Tennant had a net margin of 4.84% and a return on equity of 16.41%. The company's revenue for the quarter was down 3.7% on a year-over-year basis. During the same period last year, the firm earned $1.83 earnings per share. As a group, analysts forecast that Tennant will post 5.89 EPS for the current year.

Institutional Investors Weigh In On Tennant

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its stake in Tennant by 429.0% in the 1st quarter. GAMMA Investing LLC now owns 492 shares of the industrial products company's stock valued at $39,000 after buying an additional 399 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Tennant by 194.8% in the 1st quarter. Farther Finance Advisors LLC now owns 619 shares of the industrial products company's stock valued at $50,000 after buying an additional 409 shares in the last quarter. Banque Transatlantique SA acquired a new position in Tennant in the 1st quarter valued at $59,000. Alta Fox Capital Management LLC acquired a new position in Tennant in the 1st quarter valued at $73,000. Finally, State of Wyoming acquired a new position in Tennant in the 2nd quarter valued at $73,000. Hedge funds and other institutional investors own 93.33% of the company's stock.

Tennant Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.