Northcoast Research Begins Coverage on Tennant (NYSE:TNC)

by · The Markets Daily

Analysts at Northcoast Research started coverage on shares of Tennant (NYSE:TNC – Get Free Report) in a note issued to investors on Thursday, Marketbeat reports. The firm set a “buy” rating and a $125.00 price target on the industrial products company’s stock. Northcoast Research’s price objective indicates a potential upside of 55.69% from the stock’s previous close.

Separately, StockNews.com lowered Tennant from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st.

View Our Latest Stock Analysis on Tennant

Tennant Trading Down 1.7 %

Shares of NYSE TNC opened at $80.29 on Thursday. Tennant has a fifty-two week low of $79.71 and a fifty-two week high of $124.11. The firm has a market capitalization of $1.52 billion, a P/E ratio of 14.16 and a beta of 1.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 1.43. The company’s 50 day simple moving average is $88.06 and its 200 day simple moving average is $94.11.

Tennant (NYSE:TNC – Get Free Report) last issued its earnings results on Thursday, October 31st. The industrial products company reported $1.39 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.05). Tennant had a net margin of 8.52% and a return on equity of 21.50%. The business had revenue of $315.80 million for the quarter, compared to the consensus estimate of $319.40 million. During the same quarter in the previous year, the firm posted $1.34 EPS. The business’s revenue was up 3.6% on a year-over-year basis. On average, analysts predict that Tennant will post 6.43 EPS for the current year.

Institutional Trading of Tennant

Several hedge funds have recently added to or reduced their stakes in TNC. CWM LLC grew its stake in Tennant by 290.9% in the second quarter. CWM LLC now owns 387 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 288 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Tennant by 84.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 527 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 241 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Tennant during the 2nd quarter valued at about $58,000. Point72 DIFC Ltd acquired a new position in shares of Tennant in the 2nd quarter valued at approximately $71,000. Finally, nVerses Capital LLC bought a new stake in Tennant during the 3rd quarter worth approximately $77,000. Institutional investors and hedge funds own 93.33% of the company’s stock.

About Tennant

(Get Free Report)

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.

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