Shares of Tennant (NYSE:TNC) have received a consensus recommendation of “Hold” from the six ratings firms that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $65.00.
A number of equities research analysts have weighed in on TNC shares. Zacks Investment Research downgraded Tennant from a “hold” rating to a “strong sell” rating in a report on Thursday, November 9th. Dougherty & Co reaffirmed a “neutral” rating on shares of Tennant in a report on Sunday, November 12th.
Shares of Tennant (NYSE:TNC) opened at $74.20 on Tuesday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.39 and a current ratio of 2.09. The firm has a market capitalization of $1,313.87, a P/E ratio of 109.12, a price-to-earnings-growth ratio of 3.22 and a beta of 1.04. Tennant has a 1-year low of $60.05 and a 1-year high of $76.80.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 30th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Wednesday, November 29th. Tennant’s payout ratio is currently 123.53%.
Several institutional investors and hedge funds have recently made changes to their positions in TNC. Ameritas Investment Partners Inc. boosted its holdings in shares of Tennant by 9.0% in 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 in the last quarter. Flinton Capital Management LLC boosted its holdings in shares of Tennant by 85.7% in the 2nd quarter. Flinton Capital Management LLC now owns 1,768 shares of the industrial products company’s stock worth $130,000 after acquiring an additional 816 shares in the last quarter. Riverhead Capital Management LLC boosted its holdings in shares of Tennant by 86.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,865 shares of the industrial products company’s stock worth $138,000 after acquiring an additional 865 shares in the last quarter. Quantbot Technologies LP boosted its holdings in shares of Tennant by 1,013.0% in the 3rd quarter. Quantbot Technologies LP now owns 2,226 shares of the industrial products company’s stock worth $147,000 after acquiring an additional 2,026 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Tennant by 17.5% in the 2nd quarter. Victory Capital Management Inc. now owns 2,546 shares of the industrial products company’s stock worth $188,000 after acquiring an additional 380 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.
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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.
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