Tennant shares fall for a second straight session on Thursday, company appoints Dave Huml as Chief Operating Officer

Tennant Company (TNC) said on Thursday that Dave Huml, the company’s current Senior Vice President, EMEA, APAC, global marketing and operations, had been appointed as Chief Operating Officer, effective April 1st.

Tennant shares closed lower for a second consecutive trading session in New York on Thursday. It has also been the steepest single-session loss since March 12th. The stock went down 9.89% ($5.75) to $52.41, after touching an intraday low at $51.26, or a price level not seen since March 16th ($51.17).

Shares of Tennant Company have retreated 32.74% so far this year, following a 49.53% gain in 2019.

As COO, Dave Huml will still report to Tennant’s President and Chief Executive Officer, Chris Killingstad, while taking responsibility for oversight of all regional sales and service organizations, global research and development, operations, marketing and IT.

“Dave Huml is a dedicated and highly respected member of our senior management team, a major architect of our new enterprise strategy and an instrumental leader in the integration of IPC,” CEO Chris Killingstad said in a statement.

“He is a strong leader who has the right combination of industry knowledge, operational savvy, global experience and personal integrity to help lead Tennant in this new role. Dave has a foundational understanding of the organization, of where we’ve been and, more importantly, of where we need to go,” Killingstad added.

Huml became part of Tennant’s team in 2014 as Senior Vice President of global marketing. Two years later, he assumed oversight of the company’s APAC business, while in 2017 he also took responsibility for Tennant’s EMEA operations.

Before joining Tennant Co, Dave Huml served as Vice President at Pentair Plc, an international water solutions manufacturer.

Analyst stock price forecast and recommendation

According to CNN Money, the 3 analysts, offering 12-month forecasts regarding Tennant Company’s stock price, have a median target of $95.00, with a high estimate of $97.00 and a low estimate of $77.00. The median estimate represents an 81.26% upside compared to the closing price of $52.41 on March 19th.

The same media also reported that at least 2 out of 3 surveyed investment analysts had rated Tennant Company’s stock as “Buy”, while 1 – as “Hold”.