Tennant Co. (TNC) Shares Down 2.2%
Shares of Tennant Co. (NYSE:TNC) were down 2.2% on Monday . The stock traded as low as $57.46 and last traded at $57.47, with a volume of 55,939 shares trading hands. The stock had previously closed at $58.76.
Several analysts have recently weighed in on TNC shares. Zacks Investment Research upgraded shares of Tennant from a “sell” rating to a “hold” rating in a research note on Saturday, June 25th. National Bank Financial lowered shares of Tennant from an “outperform” rating to a “sector perform” rating in a research note on Thursday, July 7th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Tennant has a consensus rating of “Hold” and an average price target of $32.28.
The firm has a market capitalization of $1.02 billion and a price-to-earnings ratio of 33.26. The company’s 50 day moving average price is $54.62 and its 200 day moving average price is $52.83.
Tennant (NYSE:TNC) last posted its quarterly earnings data on Monday, April 25th. The company reported $0.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.25. The firm earned $179.90 million during the quarter, compared to the consensus estimate of $180.93 million. Tennant’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.27 EPS. Equities research analysts forecast that Tennant Co. will post $2.36 earnings per share for the current fiscal year.
In other Tennant news, CFO Thomas Paulson sold 14,981 shares of the stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $56.00, for a total value of $838,936.00. Following the completion of the transaction, the chief financial officer now owns 38,380 shares in the company, valued at $2,149,280. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Heidi M. Wilson sold 2,000 shares of the stock in a transaction on Thursday, April 28th. The stock was sold at an average price of $54.40, for a total value of $108,800.00. Following the completion of the transaction, the senior vice president now owns 18,326 shares of the company’s stock, valued at approximately $996,934.40. The disclosure for this sale can be found here.
A number of institutional investors have recently bought and sold shares of the company. SFE Investment Counsel increased its position in Tennant by 3.7% in the fourth quarter. SFE Investment Counsel now owns 38,880 shares of the company’s stock worth $2,187,000 after buying an additional 1,395 shares during the period. Principal Financial Group Inc. increased its position in Tennant by 2.2% in the fourth quarter. Principal Financial Group Inc. now owns 117,686 shares of the company’s stock worth $6,621,000 after buying an additional 2,575 shares during the period. Rhumbline Advisers increased its position in Tennant by 6.4% in the fourth quarter. Rhumbline Advisers now owns 26,606 shares of the company’s stock worth $1,497,000 after buying an additional 1,600 shares during the period. Finally, California State Teachers Retirement System increased its position in Tennant by 1.9% in the fourth quarter. California State Teachers Retirement System now owns 34,130 shares of the company’s stock worth $1,920,000 after buying an additional 621 shares during the period.
Tennant Company (Tennant) is engaged in designing, manufacturing and marketing cleaning solutions. The Company is organized into four operating segments: North America; Latin America; Europe, Middle East, Africa, and Asia Pacific. The Company offers products and solutions consisting of mechanized cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair service, specialty surface coatings, and business solutions, such as financing, rental and leasing programs, and machine-to-machine asset management solutions.
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