TheStreet Upgrades Tennant (NYSE:TNC) to B

TheStreet upgraded shares of Tennant (NYSE:TNC) from a c+ rating to a b rating in a research note published on Wednesday morning, TheStreetRatingsTable reports.

A number of other equities research analysts also recently issued reports on the stock. ValuEngine upgraded shares of Tennant from a hold rating to a buy rating in a report on Thursday. Zacks Investment Research downgraded shares of Tennant from a buy rating to a hold rating in a report on Thursday, April 25th.

NYSE:TNC opened at $71.23 on Wednesday. The firm has a 50 day moving average price of $63.29. The company has a current ratio of 1.69, a quick ratio of 1.10 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 32.67 and a beta of 1.17. Tennant has a 1-year low of $48.97 and a 1-year high of $81.95.

Tennant (NYSE:TNC) last released its earnings results on Wednesday, July 31st. The industrial products company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.34. Tennant had a net margin of 3.35% and a return on equity of 15.86%. The firm had revenue of $299.70 million during the quarter, compared to the consensus estimate of $301.00 million. During the same period in the previous year, the firm earned $0.82 earnings per share. Tennant’s revenue was up 2.5% compared to the same quarter last year. Equities analysts expect that Tennant will post 2.75 earnings per share for the current year.

In related news, Director Donal L. Mulligan sold 2,985 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $70.00, for a total value of $208,950.00. Following the completion of the sale, the director now directly owns 12,550 shares in the company, valued at $878,500. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Richard H. Zay sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $72.49, for a total transaction of $289,960.00. Following the completion of the sale, the senior vice president now owns 27,184 shares of the company’s stock, valued at $1,970,568.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,262 shares of company stock valued at $2,367,979. 5.60% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. purchased a new stake in Tennant during the second quarter worth approximately $49,000. Quantamental Technologies LLC grew its stake in Tennant by 79.9% during the first quarter. Quantamental Technologies LLC now owns 894 shares of the industrial products company’s stock worth $56,000 after buying an additional 397 shares during the period. Marshall Wace North America L.P. purchased a new stake in Tennant during the first quarter worth approximately $85,000. Nisa Investment Advisors LLC grew its stake in Tennant by 2,818.2% during the first quarter. Nisa Investment Advisors LLC now owns 3,210 shares of the industrial products company’s stock worth $199,000 after buying an additional 3,100 shares during the period. Finally, Actinver Wealth Management Inc. purchased a new stake in Tennant during the fourth quarter worth approximately $216,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Tennant Company Profile

Tennant Company designs, manufactures, and markets floor cleaning equipment worldwide. The company offers a suite of products, including floor maintenance and outdoor cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair services, specialty surface coatings, and asset management solutions.

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