Tennant (TNC) Given Average Recommendation of “Hold” by Brokerages

Shares of Tennant (NYSE:TNC) have earned a consensus recommendation of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $65.00.

A number of equities analysts have weighed in on the stock. Dougherty & Co restated a “neutral” rating on shares of Tennant in a research report on Sunday, November 12th. Zacks Investment Research cut shares of Tennant from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd.

In other Tennant news, insider Thomas Paulson sold 6,694 shares of the company’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $72.90, for a total transaction of $487,992.60. Following the completion of the transaction, the insider now directly owns 24,035 shares in the company, valued at $1,752,151.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.70% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its holdings in shares of Tennant by 21.9% during the fourth quarter. Wells Fargo & Company MN now owns 32,645 shares of the industrial products company’s stock worth $2,372,000 after buying an additional 5,865 shares in the last quarter. Swiss National Bank grew its holdings in shares of Tennant by 6.5% during the fourth quarter. Swiss National Bank now owns 31,200 shares of the industrial products company’s stock worth $2,267,000 after buying an additional 1,900 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of Tennant by 12.2% during the fourth quarter. California Public Employees Retirement System now owns 34,803 shares of the industrial products company’s stock worth $2,528,000 after buying an additional 3,789 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Tennant during the fourth quarter worth $445,000. Finally, Front Row Advisors LLC purchased a new stake in shares of Tennant during the fourth quarter worth $423,000. 91.22% of the stock is owned by institutional investors and hedge funds.

Tennant (NYSE TNC) traded down $1.40 during trading hours on Friday, reaching $61.10. 117,735 shares of the company’s stock were exchanged, compared to its average volume of 128,398. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.09 and a quick ratio of 1.39. The firm has a market capitalization of $1,109.47, a PE ratio of 89.85, a PEG ratio of 2.72 and a beta of 0.91. Tennant has a 52 week low of $60.05 and a 52 week high of $76.80.

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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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