Name of opportunity: 👀
Tennant Co
Not this kind of robot: 🤖
Tennant is a cleaning equipment company that has traditionally focused on commercial and industrial cleaning solutions like vacuum cleaners and ride-on floor cleaners. But increasingly, Tennant has been pushing its autonomous mobile robots, like robotic floor scrubbers that don’t need a human operator - and they are proving very popular with customers.
Tennant has reported high sales of these AMRs. In February of this year, Tennant signed a deal with Brain Corp, investing in the autonomous technology company so that Brain Corp’s AI can give Tennant’s robots an even bigger advantage.
How hot is this investment opportunity? 🔥🔥🔥🔥
Analysts predict the price of Tennant Co will increase from $95.68 to $144.33 in the next 12 months. This would be a significant increase in price of 52.06% - so if you invested $1000, you might profit $520.58.
Part of the reason for this is the company’s AMRs. The first machine that includes Brain Corp technology, the X4 ROVR, was launched last quarter and Tennant has said that production has had to be increased in order to meet demand. The robot is designed to clean the floor of retail environments like shopping malls, helping these businesses clean their premises more efficiently and potentially reducing staffing costs.
The company's stock price has fallen by 20.14% in the past six months, so part of the predicted rise in value would be recouping that drop.
Tenant also seems to have a strong footing in its industry. Management claims that Tennant holds 14% of the global mechanised cleaning industry market, which is overall worth $9 billion.
In one more reason that analysts are drawn to this stock right now, Tennant is a Dividend King, meaning that it has raised its dividend payout every year for over 50 years - 51 years now, to be exact. The dividend yield is smaller than average at 1.19%, but as part of a wider portfolio of dividend paying investments, it adds up.
Cleaning up: 🧼
Tennant Company is a United States-based company, which is engaged in designing, manufacturing and marketing solutions. The Company's segments are Americas; Europe, Middle East, Africa, and Asia Pacific. The Company offers a range of products, including floor maintenance and cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair service, and asset management solutions.
Which neme?: 🔍
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