What Next for Tennant Company (TNC) After Forming Bearish Double Bottom?

December 8, 2017 - By Richard Conner

Investors sentiment increased to 1.24 in 2017 Q2. Its up 0.10, from 1.14 in 2017Q1. It improved, as 13 investors sold Tennant Company shares while 38 reduced holdings. 17 funds opened positions while 46 raised stakes. 15.89 million shares or 1.42% more from 15.66 million shares in 2017Q1 were reported.
Quantbot Techs L P invested 0% in Tennant Company (NYSE:TNC). Clearbridge Investments Limited Liability Corporation holds 0.06% or 788,193 shares in its portfolio. Granahan Invest Inc Ma holds 0.71% or 104,469 shares in its portfolio. Deutsche Bank & Trust Ag holds 0% or 22,967 shares. Schwab Charles Invest Mgmt Incorporated holds 0.01% in Tennant Company (NYSE:TNC) or 116,716 shares. Alliancebernstein Ltd Partnership accumulated 26,266 shares. 31,000 were accumulated by Westwood Il. New York-based Gamco Investors Et Al has invested 0.18% in Tennant Company (NYSE:TNC). Metropolitan Life Comm New York holds 0.01% of its portfolio in Tennant Company (NYSE:TNC) for 12,142 shares. Zurcher Kantonalbank (Zurich Cantonalbank) invested in 0% or 475 shares. Aqr Cap Mgmt Ltd Liability Co invested 0% of its portfolio in Tennant Company (NYSE:TNC). Dubuque Savings Bank Tru invested in 0.1% or 6,117 shares. Btim holds 0.32% or 268,124 shares. Whittier Trust Com stated it has 105 shares. 7,300 were reported by Louisiana State Employees Retirement.

The chart of Tennant Company (TNC) shows a double bottom with $59.48 target or 8.00 % below today’s $64.65 share price. The 5 months chart pattern indicates high risk for the $1.15 billion company. It was reported on Dec, 8 by Finviz.com. If the $59.48 price target is reached, the company will be worth $92.32M less. Double bottoms are rare but powerful chart patterns.

The stock decreased 0.69% or $0.45 during the last trading session, reaching $64.65. About 64,192 shares traded. Tennant Company (NYSE:TNC) has risen 37.00% since December 8, 2016 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 $0.56 EPS, down 34.12 % or $0.29 from last year’s $0.85 per share. TNC’s profit will be $10.00M for 28.86 P/E if the $0.56 EPS becomes a reality. After $0.32 actual EPS reported by Tennant Company for the previous quarter, Wall Street now forecasts 75.00 % 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. The rating was maintained by Dougherty & Company with “Buy” on Wednesday, October 28. Jefferies maintained Tennant Company (NYSE:TNC) rating on Thursday, June 15. Jefferies has “Hold” rating and $6500 target.

More notable recent Tennant Company (NYSE:TNC) news were published by: Nasdaq.com which released: “Bear of the Day: Tennant Company (TNC)” on December 06, 2017, also Businesswire.com with their article: “Tennant Company to Present its Growth Strategy at the Bank of America Merrill …” published on November 22, 2017, Seekingalpha.com published: “Tennant’s (TNC) CEO Chris Killingstad on Q2 2017 Results – Earnings Call …” on August 02, 2017. More interesting news about Tennant Company (NYSE:TNC) were released by: Seekingalpha.com and their article: “Tennant Company’s (TNC) CEO Chris Killingstad on Q3 2017 Results – Earnings …” published on November 03, 2017 as well as Nasdaq.com‘s news article titled: “Tennant Company (TNC) Ex-Dividend Date Scheduled for November 29, 2017” with publication date: November 28, 2017.

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