Tennant Company (TNC) Receives $56.00 Average Price Target from Analysts

Cornelia Mascio
Gennaio 14, 2018

Headlines about Tennant (NYSE:TNC) have been trending somewhat positive recently, according to Accern. Comerica Bank now owns 18,821 shares of the company's stock valued at $1,288,000 after buying an additional 994 shares in the last quarter. Accern also gave media coverage about the industrial products company an impact score of 45.3219751706286 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock's share price in the near future. Lazard Asset Management LLC now owns 295,505 shares of the company's stock valued at $19,148,000 after buying an additional 108,138 shares in the last quarter. United Services Automobile Association now owns 42,050 shares of the company's stock valued at $2,725,000 after buying an additional 1,800 shares in the last quarter.

Tennant (NYSE:TNC) opened at $73.15 on Friday. Tennant has a 12 month low of $60.05 and a 12 month high of $76.80. The firm has a market cap of $1,290.00, a price-to-earnings ratio of 107.57, a PEG ratio of 3.22 and a beta of 1.04.

Tennant (NYSE:TNC) last released its earnings results on Thursday, November 2nd. Tennant had a net margin of 1.32% and a return on equity of 13.07%. The company had revenue of $261.92 million for the quarter, compared to the consensus estimate of $252.13 million. The business's revenue for the quarter was up 30.9% compared to the same quarter previous year. During the same period a year ago, the company posted $0.64 earnings per share. Stockholders of record on Thursday, November 30th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Wednesday, November 29th. Tennant's payout ratio is now 123.53%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TNC. Zacks Investment Research downgraded Tennant from a "hold" rating to a "strong sell" rating in a research note on Thursday, November 9th. Dougherty & Co reaffirmed a "neutral" rating on shares of Tennant in a research note on Sunday, November 12th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the a year ago is $56.00. If you are accessing this story on another publication, it was stolen and republished in violation of United States and global trademark & copyright laws.

Tennant Company (Tennant) is engaged in designing, manufacturing and marketing cleaning solutions. The Company's segments are Americas; 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 fix 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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