Tennant Co. (NYSE:TNC) was upgraded by equities research analysts at TheStreet from a “hold” rating to a “buy” rating in a research note issued on Tuesday.
Several hedge funds recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in shares of Tennant by 86.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 511,410 shares of the company’s stock worth $28,772,000 after buying an additional 237,810 shares in the last quarter. Norges Bank bought a new stake in shares of Tennant during the fourth quarter worth $9,861,000. Renaissance Technologies LLC raised its stake in shares of Tennant by 301.7% in the first quarter. Renaissance Technologies LLC now owns 118,500 shares of the company’s stock worth $6,100,000 after buying an additional 89,000 shares in the last quarter. Arrowpoint Asset Management LLC raised its stake in shares of Tennant by 4.1% in the fourth quarter. Arrowpoint Asset Management LLC now owns 792,941 shares of the company’s stock worth $44,611,000 after buying an additional 31,264 shares in the last quarter. Finally, Bogle Investment Management L P DE bought a new stake in shares of Tennant during the first quarter worth $1,218,000.
Shares of Tennant (NYSE:TNC) traded up 3.72% on Tuesday, hitting $63.06. 411,801 shares of the stock were exchanged. Tennant has a one year low of $45.92 and a one year high of $63.49. The company has a market cap of $1.11 billion and a P/E ratio of 36.49. The firm’s 50-day moving average is $55.41 and its 200-day moving average is $53.08.
TNC has been the subject of a number of other reports. Zacks Investment Research raised shares of Tennant from a “sell” rating to a “hold” rating in a research note on Saturday, June 25th. National Bank Financial lowered shares of Tennant from an “outperform” rating to a “sector perform” rating in a research note on Thursday, July 7th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $32.28.
In other news, SVP Heidi M. Wilson sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, April 28th. The shares were sold at an average price of $54.40, for a total value of $108,800.00. Following the completion of the sale, the senior vice president now directly owns 18,326 shares of the company’s stock, valued at approximately $996,934.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Thomas Paulson sold 14,981 shares of the company’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $56.00, for a total transaction of $838,936.00. Following the completion of the sale, the chief financial officer now directly owns 38,380 shares of the company’s stock, valued at $2,149,280. The disclosure for this sale can be found here.
Tennant Company (Tennant) is engaged in designing, manufacturing and marketing cleaning solutions. The Company is organized into four operating segments: North America; Latin America; 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 repair service, specialty surface coatings, and business solutions, such as financing, rental and leasing programs, and machine-to-machine asset management solutions.
