Tennant Company (TNC) Receives $65.00 Average Target Price from Analysts
Tennant Company (NYSE:TNC) has been assigned an average recommendation of “Hold” from the five brokerages that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $65.00.
Several equities research analysts have recently commented on TNC shares. BidaskClub downgraded shares of Tennant from a “sell” rating to a “strong sell” rating in a research report on Friday, August 11th. TheStreet lowered shares of Tennant from a “b-” rating to a “c+” rating in a report on Wednesday, August 9th. Finally, Zacks Investment Research lowered shares of Tennant from a “hold” rating to a “sell” rating in a report on Saturday, August 5th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alps Advisors Inc. raised its position in Tennant by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 6,855 shares of the industrial products company’s stock valued at $506,000 after buying an additional 18 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Tennant by 0.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,620 shares of the industrial products company’s stock valued at $1,005,000 after acquiring an additional 72 shares in the last quarter. Legal & General Group Plc boosted its holdings in Tennant by 0.3% during the 1st quarter. Legal & General Group Plc now owns 31,365 shares of the industrial products company’s stock worth $2,277,000 after acquiring an additional 91 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in Tennant by 1.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 7,300 shares of the industrial products company’s stock worth $539,000 after acquiring an additional 100 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its holdings in Tennant by 9.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,548 shares of the industrial products company’s stock worth $114,000 after acquiring an additional 128 shares during the last quarter. 89.42% of the stock is owned by institutional investors and hedge funds.
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Shares of Tennant (NYSE TNC) traded up 0.52% during trading on Friday, hitting $68.05. The stock had a trading volume of 56,240 shares. The stock has a 50 day moving average price of $62.64 and a 200-day moving average price of $69.88. Tennant has a one year low of $60.05 and a one year high of $76.80. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 59.80 and a beta of 1.12.
Tennant (NYSE:TNC) last released its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.19). Tennant had a return on equity of 15.39% and a net margin of 2.32%. The business had revenue of $270.79 million for the quarter, compared to analyst estimates of $268.32 million. During the same quarter in the previous year, the company posted $0.85 EPS. The business’s quarterly revenue was up 24.9% on a year-over-year basis. On average, equities research analysts predict that Tennant will post $2.28 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were issued a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.24%. Tennant’s dividend payout ratio is presently 75.00%.
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.
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