Price Change to Note: Tennant Company Hit 52-Week High

Price Change to Note: Tennant Company Hit 52 Week High

The stock of Tennant Company (NYSE:TNC) hit a new 52-week high and has $82.30 target or 8.00% above today’s $76.20 share price. The 7 months bullish chart indicates low risk for the $1.37B company. The 1-year high was reported on Nov, 23 by If the $82.30 price target is reached, the company will be worth $109.60 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 42,640 shares traded hands. Tennant Company (NYSE:TNC) has risen 39.80% since April 21, 2016 and is uptrending. It has outperformed by 34.47% the S&P500.

Analysts await Tennant Company (NYSE:TNC) to report earnings on February, 28. They expect $0.76 EPS, down 2.56% or $0.02 from last year’s $0.78 per share. TNC’s profit will be $13.66 million for 25.07 P/E if the $0.76 EPS becomes a reality. After $0.64 actual EPS reported by Tennant Company for the previous quarter, Wall Street now forecasts 18.75% EPS growth.

Tennant Company (NYSE:TNC) Ratings Coverage

Out of 2 analysts covering Tennant Co (NYSE:TNC), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Tennant Co has been the topic of 2 analyst reports since October 28, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Wednesday, October 28 by Dougherty & Company.

According to Zacks Investment Research, “Tennant Company, is a Minneapolis-based company that specializes in the design, manufacture, and sale of non-residential floor maintenance equipment and related products. The Company acquired the business and assets of Castex Industries, Inc., a privately owned manufacturer of commercial floor maintenance equipment. Products consisting mainly of motorized cleaning equipment and related products, including floor cleaning and preservation products, are sold through a direct sales organization and independent distributors.”

Insitutional Activity: The institutional sentiment increased to 1.22 in Q2 2016. Its up 0.18, from 1.04 in 2016Q1. The ratio improved, as 13 funds sold all Tennant Company shares owned while 43 reduced positions. 16 funds bought stakes while 42 increased positions. They now own 15.12 million shares or 0.14% less from 15.14 million shares in 2016Q1.
Alliancebernstein Ltd Partnership last reported 0% of its portfolio in the stock. First Tru Advisors L P reported 6,510 shares or 0% of all its holdings. Clearbridge Invests Ltd Liability Corporation last reported 961,691 shares in the company. Moreover, State Of Tennessee Treasury Department has 0% invested in Tennant Company (NYSE:TNC) for 14,748 shares. California State Teachers Retirement holds 0% of its portfolio in Tennant Company (NYSE:TNC) for 36,729 shares. Ubs Asset Mngmt Americas accumulated 0% or 7,854 shares. Capstone Asset holds 0.01% or 5,773 shares in its portfolio. Arrowstreet Capital Limited Partnership holds 0% of its portfolio in Tennant Company (NYSE:TNC) for 7,700 shares. Renaissance Techs Limited Liability has 138,800 shares for 0.01% of their US portfolio. Westwood Mngmt Il accumulated 0.32% or 31,000 shares. Parametric Associates Ltd Limited Liability Company accumulated 0% or 53,208 shares. Principal Gru Inc holds 0.01% or 124,298 shares in its portfolio. Suntrust Banks Inc last reported 5,500 shares in the company. National Bank & Trust Of Mellon holds 0% of its portfolio in Tennant Company (NYSE:TNC) for 211,410 shares. Blackrock Fund holds 0.01% or 1.13 million shares in its portfolio.

Insider Transactions: Since June 8, 2016, the stock had 0 insider purchases, and 4 selling transactions for $3.58 million net activity. PAULSON THOMAS had sold 15,304 shares worth $948,848 on Tuesday, July 26. $774,265 worth of Tennant Company (NYSE:TNC) shares were sold by Wilson Heidi M.

More recent Tennant Company (NYSE:TNC) news were published by: which released: “Tennant Company Falls Back Into Sales Declines” on October 25, 2016. Also published the news titled: “Tennant Company’s Earnings Fall 22% on Growth Slowdown” on February 23, 2016.‘s news article titled: “Tennant Company Expands in Mexico; Acquires Dofesa, a Long-Time Mexico …” with publication date: September 01, 2016 was also an interesting one.

TNC Company Profile

Tennant Company (Tennant), incorporated on January 8, 1909, is engaged in designing, manufacturing and marketing cleaning solutions. The Firm is organized into four operating divisions: North America; Latin America; Europe, Middle East, Africa, and Asia Pacific. The Firm offers products and solutions consisting of mechanized cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair service, specialty surface coatings, and business solutions, such as financing, rental and leasing programs, and machine-to-machine asset management solutions. The Company’s other products include floor maintenance and outdoor cleaning equipment, and asset management solutions. Tennant products are used in various types of environments, including retail establishments, distribution centers, factories and warehouses, public venues, such as arenas and stadiums, office buildings, schools and universities, hospitals and clinics, and parking lots and streets.

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