The stock of Tennant Company (NYSE:TNC) hit a new 52-week high and has $100.35 target or 49.00% above today’s $67.35 share price. The 8 months bullish chart indicates low risk for the $1.18 billion company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $100.35 price target is reached, the company will be worth $578.20 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 33,309 shares traded hands. Tennant Company (NYSE:TNC) has risen 26.91% since April 5, 2016 and is uptrending. It has outperformed by 24.95% the S&P500.
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 company was maintained 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 decreased to 1.04 in Q2 2016. Its down 0.18, from 1.22 in 2016Q1. The ratio turned negative, 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.
Barclays Public Limited Co, a United Kingdom-based fund reported 2,004 shares. Blackrock Institutional Trust Na holds 0% of its portfolio in Tennant Company (NYSE:TNC) for 469,641 shares. Pub Employees Retirement Association Of Colorado holds 0% of its portfolio in Tennant Company (NYSE:TNC) for 4,213 shares. Capstone Asset Management accumulated 5,773 shares or 0.01% of the stock. Pinebridge Investments Ltd Partnership holds 0.01% or 2,241 shares in its portfolio. Dimensional Fund Advisors L P owns 602,803 shares or 0.02% of their US portfolio. Vanguard Group Inc holds 1.51 million shares or 0.01% of its portfolio. Zebra Cap Limited Liability Company holds 0.12% of its portfolio in Tennant Company (NYSE:TNC) for 6,188 shares. Los Angeles Capital Management Equity accumulated 11,116 shares or 0.01% of the stock. Dubuque Bank & Trust And Co accumulated 6,525 shares or 0.07% of the stock. Blackrock Advsrs Llc accumulated 8,327 shares or 0% of the stock. Jpmorgan Chase Communication reported 15,043 shares or 0% of all its holdings. California Pub Employees Retirement Sys accumulated 0% or 35,400 shares. Parametric Port Assocs Llc has 0% invested in the company for 53,208 shares. Pnc Service Grp Inc Incorporated has invested 0% of its portfolio in Tennant Company (NYSE:TNC).
Insider Transactions: Since June 8, 2016, the stock had 0 buys, and 3 insider sales for $2.56 million net activity. PAULSON THOMAS also sold $838,936 worth of Tennant Company (NYSE:TNC) on Wednesday, June 8. Wilson Heidi M sold $774,265 worth of Tennant Company (NYSE:TNC) on Monday, August 1.
More notable recent Tennant Company (NYSE:TNC) news were published by: Fool.com which released: “Tennant Company Falls Back Into Sales Declines” on October 25, 2016, also Fool.com with their article: “Tennant Company’s Earnings Fall 22% on Growth Slowdown” published on February 23, 2016, Businesswire.com published: “Tennant Company Expands in Mexico; Acquires Dofesa, a Long-Time Mexico …” on September 01, 2016. More interesting news about Tennant Company (NYSE:TNC) were released by: Fool.com and their article: “Tennant Company Posts a 33% Profit Boost as Productivity Rises” published on October 31, 2015 as well as Businesswire.com‘s news article titled: “New IRIS® Asset Manager Solution from Tennant Company Leverages the Internet …” with publication date: October 13, 2015.
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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