Tennant (NYSE:TNC) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a 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 reiterated a “neutral” rating on shares of Tennant in a research report on Sunday, November 12th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $65.00.

Shares of Tennant (NYSE TNC) opened at $73.50 on Friday. Tennant has a 52-week low of $60.05 and a 52-week high of $76.80. The firm has a market capitalization of $1,305.84, a PE ratio of 108.09, a PEG ratio of 3.20 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 results on Thursday, November 2nd. The industrial products company reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.29). 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. During the same quarter in the prior year, the company earned $0.64 earnings per share. The company’s quarterly revenue was up 30.9% on a year-over-year basis. sell-side analysts predict that Tennant will post 1.56 EPS for the current year.

In related news, insider Thomas Paulson sold 6,694 shares of the company’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $72.90, for a total value of $487,992.60. Following the transaction, the insider now directly owns 24,035 shares in the company, valued at $1,752,151.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.70% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. increased its position in shares of Tennant by 9.0% in 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 during the last quarter. Flinton Capital Management LLC increased its position in shares of Tennant by 85.7% in 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 during the last quarter. Riverhead Capital Management LLC increased its position in shares of Tennant by 86.5% in 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 during the last quarter. Quantbot Technologies LP increased its position in shares of Tennant by 1,013.0% in 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 during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Tennant by 17.5% in 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 during the last quarter. Institutional investors own 91.59% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Tennant (TNC) Lifted to “Hold” at Zacks Investment Research” was first published by American Banking News and is the sole property of of American Banking News. If you are reading this article on another domain, it was illegally copied and reposted in violation of U.S. & international trademark & copyright legislation. The correct version of this article can be accessed at https://www.americanbankingnews.com/2018/01/13/tennant-tnc-lifted-to-hold-at-zacks-investment-research.html.

About Tennant

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.