Tennant (NYSE:TNC) Stock Passes Above 200-Day Moving Average – Should You Sell?

Tennant Company (NYSE:TNC) 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 changing hands.

Analysts Set New Price Targets

Several research firms recently weighed in on TNC. Wall Street Zen upgraded Tennant from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Roth Mkm reiterated a “buy” rating and set a $91.00 target price (down from $107.00) on shares of Tennant in a research report on Wednesday, February 25th. Zacks Research upgraded Tennant from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 26th. Weiss Ratings downgraded Tennant from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Finally, Freedom Capital downgraded Tennant from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $91.00.

Tennant Stock Down 1.0%

The company has a 50-day moving average price of $79.89 and a 200 day moving average price of $75.79. The firm has a market capitalization of $1.43 billion, a PE ratio of 50.51, a P/E/G ratio of 2.36 and a beta of 1.12. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.12 and a quick ratio of 1.41.

Tennant (NYSE:TNC) last announced its quarterly earnings data on Monday, May 4th. The industrial products company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.40 by $0.18. Tennant had a return on equity of 14.87% and a net margin of 2.55%.The business had revenue of $297.90 million for the quarter, compared to the consensus estimate of $289.25 million. During the same period in the previous year, the business earned $1.12 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. Tennant has set its FY 2026 guidance at 4.700-5.300 EPS. Analysts forecast that Tennant Company will post 5.12 earnings per share for the current year.

Tennant Announces Dividend

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 given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, May 29th. Tennant’s payout ratio is presently 74.70%.

Tennant declared that its Board of Directors has approved a stock buyback plan 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 purchase up to 11.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Tennant

Several large investors have recently made changes to their positions in the business. Royal Bank of Canada increased its holdings in shares of Tennant by 23.0% in the first quarter. Royal Bank of Canada now owns 4,563 shares of the industrial products company’s stock worth $364,000 after purchasing an additional 854 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Tennant by 68.8% in the first quarter. AQR Capital Management LLC now owns 49,724 shares of the industrial products company’s stock worth $3,966,000 after purchasing an additional 20,275 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Tennant by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,271 shares of the industrial products company’s stock worth $899,000 after purchasing an additional 491 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Tennant by 17.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 56,214 shares of the industrial products company’s stock worth $4,483,000 after purchasing an additional 8,421 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of Tennant by 39.1% in the first quarter. Jane Street Group LLC now owns 38,911 shares of the industrial products company’s stock worth $3,103,000 after purchasing an additional 10,946 shares during the last quarter. 93.33% of the stock is currently 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.