Tennant (NYSE:TNC) Stock Rating Raised to “Buy” at Freedom Broker

Freedom Broker upgraded shares of Tennant (NYSE:TNC) from a hold rating to a buy rating in a research note issued to investors on Thursday,Benzinga reports. Freedom Broker currently has $85.00 price target on the industrial products company’s stock, up from their previous price target of $77.00.

Other analysts also recently issued reports about the stock. Zacks Research downgraded shares of Tennant from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, August 10th. Weiss Ratings cut shares of Tennant from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, September 11th. Finally, Wall Street Zen lowered shares of Tennant from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Tennant has a consensus rating of “Hold” and an average price target of $87.00.

Tennant Price Performance

Shares of TNC stock opened at $70.87 on Thursday. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 52.89, a PEG ratio of 2.63 and a beta of 1.14. The business’s fifty day moving average is $67.85 and its 200 day moving average is $75.78. Tennant has a twelve month low of $60.17 and a twelve month high of $91.93. The company has a quick ratio of 1.37, a current ratio of 2.18 and a debt-to-equity ratio of 0.65.

Tennant (NYSE:TNC) last posted its quarterly earnings data on Monday, November 2nd. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.42. The business had revenue of $322.30 million during the quarter, compared to the consensus estimate of $330.75 million. Tennant had a return on equity of 13.30% and a net margin of 1.85%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.46 earnings per share. Research analysts expect that Tennant will post 3.95 EPS for the current fiscal year.

Tennant Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be given a dividend of $0.3250 per share. This is a boost from Tennant’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Monday, November 30th. This represents a $1.30 dividend on an annualized basis and a yield of 1.8%. Tennant’s dividend payout ratio is 97.01%.

Insider Buying and Selling at Tennant

In related news, Director Timothy Morse acquired 1,500 shares of the stock in a transaction on Wednesday, August 12th. The stock was acquired at an average price of $68.18 per share, for a total transaction of $102,270.00. Following the completion of the purchase, the director owned 10,614 shares of the company’s stock, valued at $723,662.52. This represents a 16.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Donal Mulligan bought 8,000 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was bought at an average cost of $67.34 per share, for a total transaction of $538,720.00. Following the completion of the acquisition, the director directly owned 16,000 shares of the company’s stock, valued at approximately $1,077,440. This represents a 100.00% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders purchased 12,500 shares of company stock worth $849,250. 3.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Tennant

A number of hedge funds have recently bought and sold shares of the company. Pinnacle Wealth Planning Services Inc. raised its holdings in Tennant by 1,683.3% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 428 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 404 shares during the last quarter. Parallel Advisors LLC lifted its position in Tennant by 623.0% in the 3rd quarter. Parallel Advisors LLC now owns 535 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 461 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Tennant during the 2nd quarter valued at $39,000. Versant Capital Management Inc boosted its stake in Tennant by 44.0% during the 3rd quarter. Versant Capital Management Inc now owns 579 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 177 shares during the last quarter. Finally, Simplex Trading LLC purchased a new stake in Tennant during the 3rd quarter valued at $52,000. Institutional investors own 93.33% of the company’s stock.

Trending Headlines about Tennant

Here are the key news stories impacting Tennant this week:

• Positive Sentiment: Freedom Broker raised its rating on Tennant from “hold” to “buy” and increased its price target from $77 to $85, implying potential upside from the reference price. Freedom Broker rating information
• Positive Sentiment: Sidoti forecasts FY2028 EPS of $6.42, above its FY2027 estimate of $5.43, suggesting earnings growth beyond 2027. Its quarterly 2028 estimates range from $1.52 to $1.68 per share. Tennant analyst estimates
• Negative Sentiment: Sidoti cut its FY2027 EPS forecast to $5.43 from $5.82 and lowered its Q4 2027 estimate to $1.55 from $1.76. These downward revisions may temper the benefit of the rating upgrade and help explain weaker near-term sentiment. Tennant analyst estimates

About Tennant

Tennant Company is a manufacturer of cleaning equipment and technologies for commercial, industrial and institutional customers. Its product portfolio includes floor scrubbers, sweepers, combination machines, carpet extractors, outdoor cleaning equipment and related vacuum systems. The company also offers cleaning solutions, replacement parts, maintenance programs and other services designed to support facility-management operations.

Tennant develops technology aimed at improving cleaning efficiency and reducing environmental impact.