Tennant Co. (TNC) Hits New 1-Year High at $64.93
Shares of Tennant Co. (NYSE:TNC) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $64.93 and last traded at $64.76, with a volume of 15,980 shares changing hands. The stock had previously closed at $64.57.
A number of analysts have recently issued reports on TNC shares. Zacks Investment Research upgraded Tennant from a “sell” rating to a “hold” rating in a report on Saturday, June 18th. National Bank Financial lowered Tennant from an “outperform” rating to a “sector perform” rating in a report on Thursday, July 7th. TheStreet upgraded Tennant from a “hold” rating to a “buy” rating in a report on Tuesday, July 26th. Finally, Jefferies Group increased their target price on Tennant from $54.00 to $56.00 and gave the company a “hold” rating in a report on Friday, July 29th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $33.95.
The company has a market cap of $1.14 billion and a price-to-earnings ratio of 36.61. The firm has a 50-day moving average price of $61.45 and a 200-day moving average price of $54.91.
Tennant (NYSE:TNC) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.13. The company earned $216.80 million during the quarter, compared to analyst estimates of $210.61 million. During the same period in the prior year, the business earned $0.79 EPS. The business’s revenue for the quarter was up .6% on a year-over-year basis. On average, analysts predict that Tennant Co. will post $2.50 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Monday, August 29th.
In related news, SVP Heidi M. Wilson sold 12,158 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $63.68, for a total value of $774,221.44. Following the completion of the sale, the senior vice president now owns 24,541 shares of the company’s stock, valued at $1,562,770.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Thomas Paulson sold 15,304 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $62.00, for a total transaction of $948,848.00. Following the completion of the sale, the chief financial officer now directly owns 43,313 shares of the company’s stock, valued at approximately $2,685,406. The disclosure for this sale can be found here.
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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