Tennant’s (TNC) “Hold (C)” Rating Reaffirmed at Weiss Ratings

Weiss Ratings restated their hold (c) rating on shares of Tennant (NYSE:TNC) in a research note issued to investors on Tuesday,Weiss Ratings reports.

Several other equities research analysts have also issued reports on the stock. Wall Street Zen raised shares of Tennant from a “hold” rating to a “buy” rating in a report on Saturday, September 20th. Zacks Research raised shares of Tennant to a “hold” rating in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $125.00.

Tennant Trading Up 1.0%

Shares of Tennant stock opened at $79.55 on Tuesday. The firm has a market capitalization of $1.47 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 1.71 and a beta of 1.06. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.09 and a quick ratio of 1.38. The company’s fifty day moving average price is $81.64 and its two-hundred day moving average price is $77.99. Tennant has a 52-week low of $67.32 and a 52-week high of $95.29.

Tennant (NYSE:TNC) last announced its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.14). The business had revenue of $318.60 million during the quarter, compared to the consensus estimate of $327.20 million. Tennant had a net margin of 4.84% and a return on equity of 16.41%. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period last year, the firm earned $1.83 EPS. On average, analysts expect that Tennant will post 5.89 EPS for the current year.

Tennant Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a $0.295 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.18 annualized dividend and a dividend yield of 1.5%. Tennant’s dividend payout ratio is presently 36.76%.

Institutional Investors Weigh In On Tennant

Several large investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in Tennant by 429.0% during the 1st quarter. GAMMA Investing LLC now owns 492 shares of the industrial products company’s stock worth $39,000 after buying an additional 399 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Tennant by 194.8% during the 1st quarter. Farther Finance Advisors LLC now owns 619 shares of the industrial products company’s stock worth $50,000 after buying an additional 409 shares in the last quarter. Banque Transatlantique SA acquired a new position in Tennant during the 1st quarter worth about $59,000. Alta Fox Capital Management LLC acquired a new position in Tennant during the 1st quarter worth about $73,000. Finally, State of Wyoming acquired a new position in Tennant during the 2nd quarter worth about $73,000. Institutional investors own 93.33% of the company’s stock.

Tennant Company Profile

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.