Tennant (NYSE:TNC) Stock Rating Lowered by StockNews.com

Tennant (NYSE:TNC) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

Tennant Trading Up 0.3 %

NYSE:TNC opened at $94.06 on Friday. Tennant has a 1 year low of $72.81 and a 1 year high of $124.11. The stock has a market cap of $1.79 billion, a P/E ratio of 15.62 and a beta of 1.02. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.46 and a current ratio of 2.17. The stock has a 50-day simple moving average of $99.86 and a 200-day simple moving average of $106.15.

Tennant (NYSE:TNC) last announced its quarterly earnings results on Thursday, August 8th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.11. The firm had revenue of $331.00 million during the quarter, compared to the consensus estimate of $327.00 million. Tennant had a return on equity of 22.23% and a net margin of 8.76%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.86 earnings per share. As a group, analysts anticipate that Tennant will post 6.48 earnings per share for the current fiscal year.

Institutional Trading of Tennant

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Tennant by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 2,291,226 shares of the industrial products company’s stock valued at $278,636,000 after purchasing an additional 40,711 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Tennant by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 612,032 shares of the industrial products company’s stock worth $56,729,000 after buying an additional 14,008 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Tennant by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 231,059 shares of the industrial products company’s stock worth $21,417,000 after buying an additional 4,102 shares during the last quarter. Bank of New York Mellon Corp increased its position in Tennant by 2.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 193,384 shares of the industrial products company’s stock valued at $19,037,000 after acquiring an additional 4,128 shares during the period. Finally, American Century Companies Inc. raised its stake in Tennant by 79.8% during the 2nd quarter. American Century Companies Inc. now owns 151,151 shares of the industrial products company’s stock valued at $14,879,000 after acquiring an additional 67,080 shares during the last quarter. 93.33% of the stock is owned by hedge funds and other institutional investors.

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.