Could Tennant Company (TNC) See a Reversal After Having Formed Several Months Bearish Double Bottom Pattern

January 13, 2018 - By Richard Conner

Investors sentiment increased to 1.31 in 2017 Q3. Its up 0.07, from 1.24 in 2017Q2. It is positive, as 15 investors sold Tennant Company shares while 36 reduced holdings. 18 funds opened positions while 49 raised stakes. 16.30 million shares or 2.60% more from 15.89 million shares in 2017Q2 were reported.
Sfe Counsel accumulated 30,381 shares. Schwab Charles Inv Mngmt Incorporated has invested 0.01% in Tennant Company (NYSE:TNC). Art Advsrs holds 5,452 shares. Comerica Bank has invested 0.01% in Tennant Company (NYSE:TNC). Employees Retirement Association Of Colorado holds 0% or 4,213 shares. Manufacturers Life Ins The owns 13,524 shares. Moreover, Arrowmark Colorado Ltd has 1.16% invested in Tennant Company (NYSE:TNC) for 1.54M shares. Neuberger Berman Llc stated it has 0.09% in Tennant Company (NYSE:TNC). Vanguard Gru Incorporated accumulated 1.78 million shares. 145,436 are held by Geode Capital Mngmt Limited. Gabelli Funds Ltd Limited Liability Company accumulated 280,000 shares. Clean Yield accumulated 0.52% or 19,390 shares. Nationwide Fund Advsrs owns 9,725 shares for 0% of their portfolio. Dubuque Financial Bank And Tru Com owns 6,016 shares. Jpmorgan Chase And reported 30,988 shares stake.

The chart of Tennant Company (TNC) shows a double bottom with $67.62 target or 8.00 % below today’s $73.50 share price. The 9 months chart pattern indicates high risk for the $1.31B company. It was reported on Jan, 13 by Finviz.com. If the $67.62 price target is reached, the company will be worth $104.96M less. Double bottoms are rare but powerful chart patterns.

The stock increased 0.48% or $0.35 during the last trading session, reaching $73.5. About 62,206 shares traded. Tennant Company (NYSE:TNC) has risen 37.00% since January 13, 2017 and is uptrending. It has outperformed by 20.30% the S&P500.

Analysts await Tennant Company (NYSE:TNC) to report earnings on February, 22. They expect $0.35 earnings per share, down 58.82 % or $0.50 from last year’s $0.85 per share. TNC’s profit will be $6.25M for 52.50 P/E if the $0.35 EPS becomes a reality. After $0.32 actual earnings per share reported by Tennant Company for the previous quarter, Wall Street now forecasts 9.37 % EPS growth.

Tennant Company (NYSE:TNC) Ratings Coverage

Among 2 analysts covering Tennant Co (NYSE:TNC), 1 have Buy rating, 0 Sell and 1 Hold. Therefore 50% are positive. Tennant Co had 4 analyst reports since October 28, 2015 according to SRatingsIntel. Jefferies maintained Tennant Company (NYSE:TNC) rating on Thursday, June 15. Jefferies has “Hold” rating and $6500 target. Dougherty & Company maintained the shares of TNC in report on Wednesday, October 28 with “Buy” rating.

More important recent Tennant Company (NYSE:TNC) news were published by: Fool.com which released: “Why Tennant Company Stock Just Crashed 11%” on August 02, 2017, also Seekingalpha.com published article titled: “Tennant Company’s (TNC) CEO Chris Killingstad on Q3 2017 Results – Earnings …”, Nasdaq.com published: “Bear of the Day: Tennant Company (TNC)” on December 06, 2017. More interesting news about Tennant Company (NYSE:TNC) was released by: Businesswire.com and their article: “Tennant Company T500 Walk-Behind Floor Scrubber Wins 2017 GOOD DESIGN Award” with publication date: December 21, 2017.

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