Tennant (NYSE:TNC) Shares Cross Above 200-Day Moving Average – What’s Next?

Tennant Company (NYSE:TNC)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $75.73 and traded as high as $85.17. Tennant shares last traded at $84.7220, with a volume of 79,406 shares.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TNC. Zacks Research raised shares of Tennant from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 26th. Wall Street Zen raised shares of Tennant from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Freedom Capital downgraded shares of Tennant from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Roth Mkm reaffirmed a “buy” rating and set a $91.00 price target (down from $107.00) on shares of Tennant in a research note on Wednesday, February 25th. Finally, Weiss Ratings downgraded shares of Tennant from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $91.00.

Tennant Trading Up 1.1%

The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 51.04, a price-to-earnings-growth ratio of 2.34 and a beta of 1.12. The business’s 50 day moving average price is $79.58 and its 200-day moving average price is $75.73. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.41 and a current ratio of 2.12.

Tennant (NYSE:TNC) last issued its earnings results on Monday, May 4th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.18. The business had revenue of $297.90 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.12 EPS. Tennant has set its FY 2026 guidance at 4.700-5.300 EPS. Equities analysts expect that Tennant Company will post 5.12 EPS for the current year.

Tennant Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, May 29th. Tennant’s dividend payout ratio is 74.70%.

Tennant announced that its Board of Directors has initiated a share repurchase plan on Monday, May 4th that authorizes the company to repurchase 2,000,000,000,000 outstanding shares. This repurchase authorization authorizes the industrial products company to reacquire up to 11.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Tennant

Institutional investors have recently modified their holdings of the stock. Comerica Bank grew its position in shares of Tennant by 1.2% during the 3rd quarter. Comerica Bank now owns 12,290 shares of the industrial products company’s stock valued at $996,000 after buying an additional 144 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of Tennant by 2.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 6,115 shares of the industrial products company’s stock valued at $451,000 after buying an additional 148 shares during the last quarter. Hantz Financial Services Inc. grew its position in shares of Tennant by 85.1% during the 4th 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. Swiss National Bank grew its position in shares of Tennant by 0.6% during the 3rd quarter. Swiss National Bank now owns 34,300 shares of the industrial products company’s stock valued at $2,780,000 after buying an additional 200 shares during the last quarter. Finally, First Affirmative Financial Network grew its position in shares of Tennant by 7.2% during the 3rd quarter. First Affirmative Financial Network now owns 3,270 shares of the industrial products company’s stock valued at $265,000 after buying an additional 220 shares during the last quarter. Institutional investors and hedge funds own 93.33% of the company’s stock.

Tennant Company Profile

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.