StockNews.com downgraded shares of Tennant (NYSE:TNC – Free Report) from a strong-buy rating to a buy rating in a report issued on Thursday.
Tennant Stock Up 0.2 %
Shares of NYSE:TNC opened at $97.68 on Thursday. The stock has a 50-day simple moving average of $104.57 and a 200-day simple moving average of $103.48. The stock has a market capitalization of $1.86 billion, a P/E ratio of 16.23 and a beta of 1.03. Tennant has a 1 year low of $72.81 and a 1 year high of $124.11. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.46 and a current ratio of 2.15.
Tennant (NYSE:TNC – Get Free Report) last released its quarterly earnings data on Friday, May 3rd. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.36. Tennant had a net margin of 9.10% and a return on equity of 23.16%. The company had revenue of $311.00 million during the quarter, compared to the consensus estimate of $314.10 million. Equities analysts forecast that Tennant will post 6.56 earnings per share for the current year.
Tennant Announces Dividend
Institutional Investors Weigh In On Tennant
Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Tennant by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 2,291,226 shares of the industrial products company’s stock worth $278,636,000 after acquiring an additional 40,711 shares during the period. Dimensional Fund Advisors LP grew its holdings in Tennant by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 612,032 shares of the industrial products company’s stock valued at $56,729,000 after purchasing an additional 14,008 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Tennant by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 231,059 shares of the industrial products company’s stock valued at $21,417,000 after purchasing an additional 4,102 shares in the last quarter. Norges Bank purchased a new stake in Tennant during the 4th quarter worth $12,193,000. Finally, Invesco Ltd. lifted its holdings in Tennant by 57.8% in the 3rd quarter. Invesco Ltd. now owns 115,739 shares of the industrial products company’s stock worth $8,582,000 after buying an additional 42,407 shares in the last quarter. 93.33% of the stock is currently owned by hedge funds and other institutional investors.
About Tennant
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.
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