Tennant (NYSE:TNC) Hits New 52-Week High – What’s Next?

Tennant Company (NYSE:TNC) hit a new 52-week high on Friday . The company traded as high as $88.86 and last traded at $87.75, with a volume of 28917 shares. The stock had previously closed at $87.53.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TNC. 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. Zacks Research upgraded Tennant from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 26th. Wall Street Zen upgraded Tennant from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Freedom Capital lowered Tennant from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Finally, Weiss Ratings upgraded Tennant from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.00.

Tennant Trading Down 0.5%

The company has a market capitalization of $1.48 billion, a PE ratio of 52.47, a PEG ratio of 2.42 and a beta of 1.12. 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 stock has a fifty day moving average of $81.87 and a two-hundred day moving average of $76.37.

Tennant (NYSE:TNC) last announced its quarterly earnings data on Monday, May 4th. The industrial products company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.18. The company had revenue of $297.90 million for the quarter, compared to analysts’ expectations of $289.25 million. Tennant had a return on equity of 14.87% and a net margin of 2.55%.Tennant’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $1.12 EPS. Tennant has set its FY 2026 guidance at 4.700-5.300 EPS. As a group, sell-side analysts anticipate that Tennant Company will post 5.12 earnings per share for the current fiscal year.

Tennant Announces Dividend

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

Tennant declared that its Board of Directors has authorized a share buyback plan on Monday, May 4th that permits the company to buyback 2,000,000,000,000 outstanding shares. This buyback authorization permits the industrial products company to repurchase up to 11.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Tennant

Large investors have recently modified their holdings of the company. Hantz Financial Services Inc. raised its holdings 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 in the last quarter. UMB Bank n.a. raised its holdings in shares of Tennant by 1,778.6% during the 4th quarter. UMB Bank n.a. now owns 526 shares of the industrial products company’s stock valued at $39,000 after buying an additional 498 shares in the last quarter. State of Wyoming purchased a new position in shares of Tennant during the 2nd quarter valued at about $73,000. BNP Paribas Financial Markets raised its holdings in shares of Tennant by 25.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,936 shares of the industrial products company’s stock valued at $150,000 after buying an additional 389 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of 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 buying an additional 722 shares in the last quarter. 93.33% of the stock is owned by hedge funds and other institutional investors.

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.