Tennant (NYSE:TNC) Rating Lowered to Buy at StockNews.com

Tennant (NYSE:TNC) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday.

Tennant Trading Up 0.7 %

Tennant stock opened at $98.38 on Thursday. The firm’s 50 day moving average price is $104.23 and its 200-day moving average price is $103.56. Tennant has a 1 year low of $72.81 and a 1 year high of $124.11. The stock has a market cap of $1.87 billion, a P/E ratio of 16.34 and a beta of 1.03. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.15 and a quick ratio of 1.46.

Tennant (NYSE:TNC) last announced its quarterly earnings results on Friday, May 3rd. The industrial products company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.36. Tennant had a net margin of 9.10% and a return on equity of 23.16%. The company had revenue of $311.00 million for the quarter, compared to analysts’ expectations of $314.10 million. On average, equities analysts predict that Tennant will post 6.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC increased its position in Tennant by 1,272.2% during the first quarter. Global Retirement Partners LLC now owns 247 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 229 shares during the last quarter. YHB Investment Advisors Inc. purchased a new stake in shares of Tennant during the first quarter valued at $36,000. Creative Financial Designs Inc. ADV boosted its stake in shares of Tennant by 142.4% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 652 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 383 shares during the period. Quest Partners LLC purchased a new stake in shares of Tennant during the fourth quarter valued at $64,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Tennant during the first quarter valued at $86,000. 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.