Zacks Investment Research upgraded shares of Tennant (NYSE:TNC) from a strong sell rating to a hold rating in a research report released on Saturday.

According to Zacks, “Tennant Company is a world leader in designing, manufacturing and marketing solutions that empower customers to achieve quality cleaning performance, significantly reduce their environmental impact and help create a cleaner, safer, healthier world. Its products include equipment for maintaining surfaces in industrial, commercial and outdoor environments; detergent-free and other sustainable cleaning technologies; and coatings for protecting, repairing and upgrading surfaces. Tennant’s global field service network is the most extensive in the industry. Tennant has manufacturing operations in Minneapolis, MN; Holland, MI; Louisville, KY; Chicago, IL; Uden, The Netherlands; São Paulo, Brazil; and Shanghai, China; and sells products directly in 15 countries and through distributors in more than 80 countries. “

Separately, Dougherty & Co reaffirmed a neutral rating on shares of Tennant in a report on Sunday, November 12th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The company has a consensus rating of Hold and a consensus price target of $65.00.

Tennant (TNC) opened at $72.95 on Friday. Tennant has a twelve month low of $60.05 and a twelve month high of $76.80. The firm has a market capitalization of $1,300.00, a price-to-earnings ratio of 107.28, a P/E/G ratio of 3.22 and a beta of 1.04. The company has a current ratio of 2.09, a quick ratio of 1.39 and a debt-to-equity ratio of 1.29.

Tennant (NYSE:TNC) last announced its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.29). Tennant had a return on equity of 13.07% and a net margin of 1.32%. The business had revenue of $261.92 million for the quarter, compared to analyst estimates of $252.13 million. During the same period in the prior year, the company earned $0.64 EPS. The company’s revenue was up 30.9% on a year-over-year basis. analysts expect that Tennant will post 1.56 EPS for the current fiscal year.

In related news, insider Thomas Paulson sold 6,694 shares of the company’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $72.90, for a total transaction of $487,992.60. Following the transaction, the insider now owns 24,035 shares of the company’s stock, valued at $1,752,151.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 5.70% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Ameritas Investment Partners Inc. boosted its position in Tennant by 9.0% during the second quarter. Ameritas Investment Partners Inc. now owns 1,548 shares of the industrial products company’s stock worth $114,000 after purchasing an additional 128 shares in the last quarter. Flinton Capital Management LLC boosted its position in Tennant by 85.7% during the second quarter. Flinton Capital Management LLC now owns 1,768 shares of the industrial products company’s stock worth $130,000 after purchasing an additional 816 shares in the last quarter. Riverhead Capital Management LLC boosted its position in Tennant by 86.5% during the second quarter. Riverhead Capital Management LLC now owns 1,865 shares of the industrial products company’s stock worth $138,000 after purchasing an additional 865 shares in the last quarter. Quantbot Technologies LP boosted its position in Tennant by 1,013.0% during the third quarter. Quantbot Technologies LP now owns 2,226 shares of the industrial products company’s stock worth $147,000 after purchasing an additional 2,026 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in Tennant by 17.5% during the second quarter. Victory Capital Management Inc. now owns 2,546 shares of the industrial products company’s stock worth $188,000 after purchasing an additional 380 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Tennant (TNC) Rating Increased to Hold at Zacks Investment Research” was posted by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are viewing this piece on another website, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this piece can be accessed at https://theolympiareport.com/2018/01/17/tennant-tnc-rating-increased-to-hold-at-zacks-investment-research.html.

Tennant Company Profile

Tennant Company is engaged in designing, manufacturing and marketing of cleaning solutions. The Company’s segments are Americas; Europe, Middle East, Africa, and Asia Pacific. The Company offers a range of products, including floor maintenance and outdoor cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair service, specialty surface coatings and asset management solutions.

Get a free copy of the Zacks research report on Tennant (TNC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Tennant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tennant and related companies with MarketBeat.com's FREE daily email newsletter.