Shares of Tennant Company (NYSE:TNC) have received an average rating of “Hold” from the five research firms that are covering the company. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $65.00.
Several research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Tennant Company from a “sell” rating to a “hold” rating in a report on Thursday, April 27th. Jefferies Group LLC raised their price target on shares of Tennant Company from $62.00 to $65.00 and gave the company a “hold” rating in a report on Thursday, March 23rd. Finally, Canaccord Genuity lowered shares of Tennant Company from a “buy” rating to a “hold” rating in a report on Wednesday, February 15th.
Shares of Tennant Company (NYSE:TNC) traded up 0.21% during midday trading on Monday, hitting $72.95. 47,548 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $72.09 and its 200 day moving average price is $70.65. The firm has a market cap of $1.28 billion, a PE ratio of 34.15 and a beta of 1.04. Tennant Company has a one year low of $49.97 and a one year high of $76.80.
Tennant Company (NYSE:TNC) last posted its quarterly earnings results on Monday, April 24th. The industrial products company reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.06. Tennant Company had a net margin of 5.54% and a return on equity of 17.78%. The firm had revenue of $191.10 million for the quarter, compared to analyst estimates of $181.82 million. During the same quarter last year, the firm posted $0.25 earnings per share. Tennant Company’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities research analysts forecast that Tennant Company will post $2.52 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Friday, May 26th. Tennant Company’s dividend payout ratio (DPR) is 34.01%.
In other Tennant Company news, Director Steven Alan Sonnenberg sold 6,000 shares of the stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $72.17, for a total value of $433,020.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carol S. Eicher sold 1,928 shares of the stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $73.76, for a total transaction of $142,209.28. Following the completion of the sale, the director now directly owns 9,263 shares of the company’s stock, valued at approximately $683,238.88. The disclosure for this sale can be found here. Insiders sold 21,218 shares of company stock valued at $1,527,908 in the last ninety days. 5.60% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue increased its stake in Tennant Company by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 1,950 shares of the industrial products company’s stock worth $141,000 after buying an additional 50 shares during the last quarter. Meristem LLP bought a new stake in Tennant Company during the third quarter worth $208,000. Municipal Employees Retirement System of Michigan increased its stake in Tennant Company by 1.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,920 shares of the industrial products company’s stock worth $254,000 after buying an additional 70 shares during the last quarter. Rothschild Asset Management Inc. increased its stake in Tennant Company by 2.5% in the third quarter. Rothschild Asset Management Inc. now owns 4,879 shares of the industrial products company’s stock worth $316,000 after buying an additional 120 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Tennant Company during the third quarter worth $355,000. 88.32% of the stock is owned by institutional investors.
About Tennant Company
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.