Tennant (NYSE:TNC) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

Tennant Company (NYSE:TNC)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $78.49 and traded as high as $87.04. Tennant shares last traded at $86.3050, with a volume of 177,422 shares changing hands.

Analyst Upgrades and Downgrades

TNC has been the subject of several research reports. Wall Street Zen upgraded shares of Tennant from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings upgraded Tennant from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, June 5th. Finally, Zacks Research raised Tennant from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Tennant has an average rating of “Moderate Buy” and a consensus target price of $91.00.

Tennant Stock Performance

The company has a debt-to-equity ratio of 0.67, a current ratio of 2.12 and a quick ratio of 1.41. The company has a 50 day simple moving average of $86.05 and a 200-day simple moving average of $78.49. The firm has a market cap of $1.47 billion, a PE ratio of 51.99, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12.

Tennant (NYSE:TNC) last posted its quarterly earnings results on Monday, May 4th. The industrial products company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.40 by $0.18. The firm 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 business’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $1.12 earnings per share. Tennant has set its FY 2026 guidance at 4.700-5.300 EPS. As a group, equities research analysts anticipate that Tennant Company will post 5.12 EPS for the current year.

Tennant Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.24 annualized dividend and a dividend yield of 1.4%. Tennant’s dividend payout ratio (DPR) is currently 74.70%.

Tennant declared that its Board of Directors has approved a share repurchase program on Monday, May 4th that allows the company to repurchase 2,000,000,000,000 outstanding shares. This repurchase authorization allows the industrial products company to reacquire up to 11.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Tennant

Several hedge funds have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. grew its stake in shares of Tennant by 85.1% during the fourth quarter. Hantz Financial Services Inc. now owns 385 shares of the industrial products company’s stock valued at $28,000 after buying an additional 177 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Tennant by 1,778.6% in the 4th quarter. UMB Bank n.a. now owns 526 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 498 shares during the last quarter. State of Wyoming bought a new stake in shares of Tennant in the 2nd quarter valued at about $73,000. BNP Paribas Financial Markets lifted its stake in shares of Tennant by 25.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,936 shares of the industrial products company’s stock valued at $150,000 after acquiring an additional 389 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Tennant by 40.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,492 shares of the industrial products company’s stock valued at $193,000 after acquiring an additional 722 shares during the period. 93.33% of the stock is 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.