Tennant (TNC) Downgraded by TheStreet

TheStreet cut shares of Tennant (NYSE:TNC) from a b rating to a c+ rating in a research report released on Thursday.

Several other equities analysts have also commented on TNC. Zacks Investment Research lowered shares of Tennant from a buy rating to a hold rating in a research report on Thursday, June 28th. ValuEngine upgraded shares of Tennant from a hold rating to a buy rating in a research report on Monday, July 2nd.

TNC stock traded down $1.64 during trading on Thursday, hitting $64.88. 76,509 shares of the company’s stock traded hands, compared to its average volume of 108,914. Tennant has a 52 week low of $59.00 and a 52 week high of $86.03. The company has a quick ratio of 1.25, a current ratio of 1.81 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $1.37 billion, a P/E ratio of 42.13, a price-to-earnings-growth ratio of 3.68 and a beta of 0.73.

Tennant (NYSE:TNC) last released its quarterly earnings data on Wednesday, July 25th. The industrial products company reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.29. Tennant had a net margin of 1.48% and a return on equity of 10.65%. The business had revenue of $292.20 million during the quarter, compared to analyst estimates of $281.03 million. During the same quarter last year, the business earned $0.60 earnings per share. Tennant’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, analysts anticipate that Tennant will post 2.07 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 31st were issued a $0.21 dividend. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $0.84 annualized dividend and a dividend yield of 1.29%. Tennant’s dividend payout ratio (DPR) is presently 54.55%.

In other news, SVP David W. Huml sold 6,550 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $79.57, for a total value of $521,183.50. Following the completion of the sale, the senior vice president now owns 10,213 shares in the company, valued at approximately $812,648.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP David W. Huml sold 13,416 shares of the firm’s stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $75.15, for a total transaction of $1,008,212.40. Following the completion of the sale, the senior vice president now owns 14,975 shares of the company’s stock, valued at approximately $1,125,371.25. The disclosure for this sale can be found here. Insiders sold a total of 34,966 shares of company stock valued at $2,703,896 in the last 90 days. Company insiders own 5.60% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Meristem LLP bought a new stake in shares of Tennant in the 2nd quarter worth about $208,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Tennant in the 2nd quarter worth about $217,000. Amalgamated Bank bought a new stake in shares of Tennant in the 2nd quarter worth about $230,000. Laurion Capital Management LP bought a new stake in shares of Tennant in the 2nd quarter worth about $234,000. Finally, Xact Kapitalforvaltning AB bought a new stake in shares of Tennant in the 1st quarter worth about $248,000. Hedge funds and other institutional investors own 86.37% of the company’s stock.

Tennant Company Profile

Tennant Company designs, manufactures, and markets floor cleaning equipment. It offers a suite of products, including floor maintenance and outdoor cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair services, specialty surface coatings, and asset management solutions.

Further Reading: How are Outstanding Shares Different from Authorized Shares?

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