Zacks Investment Research upgraded shares of Tennant (NYSE:TNC) from a strong sell rating to a hold rating in a research report released on Saturday.
According to Zacks, “Tennant Company is a world leader in designing, manufacturing and marketing solutions that empower customers to achieve quality cleaning performance, significantly reduce their environmental impact and help create a cleaner, safer, healthier world. Its products include equipment for maintaining surfaces in industrial, commercial and outdoor environments; detergent-free and other sustainable cleaning technologies; and coatings for protecting, repairing and upgrading surfaces. Tennant’s global field service network is the most extensive in the industry. Tennant has manufacturing operations in Minneapolis, MN; Holland, MI; Louisville, KY; Chicago, IL; Uden, The Netherlands; São Paulo, Brazil; and Shanghai, China; and sells products directly in 15 countries and through distributors in more than 80 countries. “
Separately, Dougherty & Co reissued a neutral rating on shares of Tennant in a report on Sunday, November 12th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. Tennant currently has a consensus rating of Hold and a consensus price target of $65.00.
Tennant (NYSE:TNC) last issued its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.29). Tennant had a net margin of 1.32% and a return on equity of 13.07%. The firm had revenue of $261.92 million during the quarter, compared to analysts’ expectations of $252.13 million. During the same quarter in the prior year, the firm posted $0.64 EPS. Tennant’s quarterly revenue was up 30.9% compared to the same quarter last year. equities research analysts expect that Tennant will post 1.56 EPS for the current year.
In other news, insider Thomas Paulson sold 6,694 shares of the business’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $72.90, for a total value of $487,992.60. Following the transaction, the insider now owns 24,035 shares of the company’s stock, valued at $1,752,151.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 5.70% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its holdings in shares of Tennant by 0.5% in the second quarter. The Manufacturers Life Insurance Company now owns 13,620 shares of the industrial products company’s stock valued at $1,005,000 after purchasing an additional 72 shares during the period. Ameritas Investment Partners Inc. increased its holdings in shares of Tennant by 9.0% in the second quarter. Ameritas Investment Partners Inc. now owns 1,548 shares of the industrial products company’s stock valued at $114,000 after purchasing an additional 128 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Tennant by 0.9% in the second quarter. Wells Fargo & Company MN now owns 16,516 shares of the industrial products company’s stock valued at $1,218,000 after purchasing an additional 142 shares during the period. TIAA CREF Investment Management LLC increased its holdings in shares of Tennant by 0.4% in the second quarter. TIAA CREF Investment Management LLC now owns 52,866 shares of the industrial products company’s stock valued at $3,902,000 after purchasing an additional 199 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in shares of Tennant by 17.5% in the second quarter. Victory Capital Management Inc. now owns 2,546 shares of the industrial products company’s stock valued at $188,000 after purchasing an additional 380 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY WARNING: “Tennant (TNC) Rating Increased to Hold at Zacks Investment Research” was originally published by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this piece of content on another publication, it was stolen and republished in violation of US and international copyright and trademark laws. The correct version of this piece of content can be read at https://stocknewstimes.com/2018/01/17/tennant-tnc-rating-increased-to-hold-at-zacks-investment-research.html.
Tennant Company Profile
Tennant Company is engaged in designing, manufacturing and marketing of cleaning solutions. The Company’s segments are Americas; Europe, Middle East, Africa, and Asia Pacific. The Company offers a range of products, including floor maintenance and outdoor cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair service, specialty surface coatings and asset management solutions.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Tennant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tennant and related companies with MarketBeat.com's FREE daily email newsletter.