Tennant (NYSE:TNC) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Tennant (NYSE:TNC) from a hold rating to a strong-buy rating in a report issued on Tuesday,Zacks.com reports.

A number of other equities analysts also recently commented on the stock. Weiss Ratings downgraded shares of Tennant from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Wall Street Zen upgraded shares of Tennant from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Roth Mkm restated a “buy” rating and issued a $91.00 target price (down from $107.00) on shares of Tennant in a research note on Wednesday, February 25th. Finally, Freedom Capital downgraded shares of Tennant from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.00.

Tennant Stock Performance

Shares of NYSE:TNC opened at $87.13 on Tuesday. The company has a current ratio of 2.12, a quick ratio of 1.41 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 52.49, a PEG ratio of 2.40 and a beta of 1.12. The firm’s 50-day moving average is $77.13 and its 200 day moving average is $75.21. Tennant has a 12 month low of $60.17 and a 12 month high of $88.86.

Tennant (NYSE:TNC) last issued its earnings results on Monday, May 4th. The industrial products company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.18. The business had revenue of $297.90 million for the quarter, compared to the consensus estimate of $289.25 million. Tennant had a net margin of 2.55% and a return on equity of 14.87%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.12 EPS. Tennant has set its FY 2026 guidance at 4.700-5.300 EPS. Research analysts predict that Tennant will post 5.12 EPS for the current year.

Tennant declared that its board has initiated a share buyback plan on Monday, May 4th that allows the company to buyback 2,000,000,000,000 outstanding shares. This buyback authorization allows the industrial products company to purchase up to 11.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Tennant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be paid a dividend of $0.31 per share. The ex-dividend date is Friday, May 29th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.4%. Tennant’s dividend payout ratio (DPR) is currently 74.70%.

Insider Buying and Selling

In other Tennant news, Director Donal L. Mulligan acquired 3,000 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were purchased at an average cost of $61.61 per share, for a total transaction of $184,830.00. Following the completion of the purchase, the director owned 8,000 shares in the company, valued at approximately $492,880. This trade represents a 60.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James T. Jr. Glerum acquired 8,163 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were acquired at an average price of $61.25 per share, for a total transaction of $499,983.75. Following the completion of the purchase, the director owned 8,600 shares of the company’s stock, valued at approximately $526,750. This represents a 1,867.96% increase in their position. The SEC filing for this purchase provides additional information. 3.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tennant

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Turtle Creek Asset Management Inc. boosted its stake in shares of Tennant by 32.7% during the first quarter. Turtle Creek Asset Management Inc. now owns 13,000 shares of the industrial products company’s stock valued at $863,000 after purchasing an additional 3,200 shares in the last quarter. Quantinno Capital Management LP boosted its stake in shares of Tennant by 61.7% during the first quarter. Quantinno Capital Management LP now owns 6,604 shares of the industrial products company’s stock valued at $439,000 after purchasing an additional 2,521 shares in the last quarter. Gabelli Funds LLC boosted its stake in shares of Tennant by 11.6% during the first quarter. Gabelli Funds LLC now owns 199,700 shares of the industrial products company’s stock valued at $13,260,000 after purchasing an additional 20,808 shares in the last quarter. Gamco Investors INC. ET AL boosted its stake in shares of Tennant by 40.5% during the first quarter. Gamco Investors INC. ET AL now owns 706,400 shares of the industrial products company’s stock valued at $46,905,000 after purchasing an additional 203,802 shares in the last quarter. Finally, Aristides Capital LLC boosted its stake in shares of Tennant by 12.9% during the first quarter. Aristides Capital LLC now owns 3,079 shares of the industrial products company’s stock valued at $204,000 after purchasing an additional 352 shares in the last quarter. 93.33% of the stock is currently owned by institutional investors.

About Tennant

Tennant Company is a global provider of solutions that help keep facilities clean, safe and sustainable. The company designs, manufactures and markets a broad range of cleaning machines, chemicals and service programs that address the cleaning needs of customers in diverse industries, including manufacturing, warehousing, food and beverage, healthcare and education. Tennant’s product portfolio encompasses both ride-on and walk-behind floor scrubbers and sweepers, carpet extractors, power brushes, pressure washers and autonomous cleaning machines.

Founded in 1870 and headquartered in Minneapolis, Minnesota, Tennant has grown from a regional manufacturer into a multinational organization with operations in more than 70 countries and sales representation in over 100 markets worldwide.