Tennant Company (TNC): Why its showing bear behavior?

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Tennant Company (NYSE:TNC) changes shares on Tuesday trading session, with a change of -3.73% or -$2.56 shares. The trading starts at $67.98 and closed at $68.63 throughout the day. The trading session low price was $65.88 and day high was $67.98 on Tuesday, August 04. After the session, the Industrials sector daily volume shifted to 78216.0 while its average volume is 85.02K. In other hand, the TNC market cap reached to $1.22B. While, its current target price is $72.33.

On April 25, 2018, BRIEF-Tennant Sets Regular Quarterly Cash Dividend Of $0.21 Per Share. According to the news reported on Reuters, * SETS REGULAR QUARTERLY CASH DIVIDEND OF $0.21 PER SHARE Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

Checking out the performance report which defines the increase or decrease of prices for a specific period. For the last 5 trading sessions, its performance is down -3.39% and up 1.90% for month. Its quarterly performance was 14.03% above, while its half year performance is down -16.64%. TNC yearly performance stood at negative -4.62% and fall -15.21% for year-to-date. Current recommendation for Tennant Company is 1.70.

Earnings per share or EPS is an important financial measure, which defines the profitability of a company. TNC EPS (TTM) for 12-month is 2.43. EPS for this year is 36.20%, while for the next year its value is 3.06. Sales growth for the current quarter is 1.81 while its EPS Q/Q reached -5.40%. It has an EPS of -1.70% down for past five years and for the next five years will be up 15.00%.

Let’s take a look on the analyst recommendations on TNC for the current month and previous month. For the current month, 2 of 3 analysts recommend stock as Buy while 0 as Sell, 0 as overweight, 0 as underweight and 1 as Hold. As compared with the previous month ratings, 0 analysts participate in stock recommendation. Out of 0, 0 rated it sell, 0 rated it as Buy and 0 as Hold Ratings. On the other hand, target price ranges from $63.00 – $82.00. Average target price for TNC was reached at $72.67.

Blackrock Inc., ArrowMark Colorado Holdings LLC and Vanguard Group, Inc. (The) are the top three holders in Tennant Company (TNC) stock. On Mar 30, 2020, Blackrock Inc. has 2.61 million shares which valued 151.44 million. On Mar 30, 2020, ArrowMark Colorado Holdings LLC owned 2.07 million shares which valued at 119.78 million. On Mar 30, 2020, Vanguard Group, Inc. (The) has a total of 2.01 million shares which valued at 116.75 million. In the end, Vanguard Group, Inc. (The) have 10.91% shares outstanding of Tennant Company (TNC) on Mar 30, 2020. The insider ownership moved to 1.90% and institutional holding shifted to 90.40%.

The company posted an EPS (TTM) of 2.43. According to the most recent quarter report on (Sep 2020), 4 analysts estimated an average EPS of 0.36, while 0.63 EPS posted a year ago period. Analyst Estimated EPS for TNC published in the report was $0.22 – $0.52 during the same period. Comparing with last year, the average estimated EPS was 0.63 which is lower than 0.96 which was posted for recent quarter EPS.

A brief look on simple moving average (SMA) that determines the market price can impact a market. The SMA for TNC fall -4.72% for period of 200 days. SMA for 50 days was 1.14% which is showing green signal, while SMA-20 was -0.49%. The moving average value for Tennant Company (TNC) is 65.79 and 65.33 for 200 and 50 days respectively.

Let’s take a look on the insider transactions, in which multiple shareholders are showing interest in TNC stock. On Feb 03, KILLINGSTAD CHRIS, President and CEO, sold 12,839 trading shares at the cost of $77.07, which valued at 0.99 million. On Jan 02, KILLINGSTAD CHRIS, President and CEO, sold 12,843 shares at the cost of $77.68, with total shares of 155,165. On Dec 05, Mulligan Donal L, Director, sold 1,750 shares at the cost of 80.00. After this transaction, Mulligan Donal L total shares reached to 10,294 which valued at 0.14 million.