Tennant (NYSE:TNC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Tennant (NYSE:TNC) from a hold rating to a buy rating in a research note issued to investors on Saturday.

Separately, Zacks Research raised Tennant to a “hold” rating in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Tennant presently has an average rating of “Moderate Buy” and an average price target of $125.00.

Tennant Stock Up 0.4%

NYSE:TNC opened at $80.96 on Friday. The stock’s fifty day moving average price is $81.88 and its two-hundred day moving average price is $78.20. Tennant has a 52-week low of $67.32 and a 52-week high of $98.52. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.38 and a current ratio of 2.09. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 25.22, a P/E/G ratio of 1.75 and a beta of 1.09.

Tennant (NYSE:TNC) last posted its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.14). Tennant had a return on equity of 16.41% and a net margin of 4.84%.The firm had revenue of $318.60 million for the quarter, compared to analyst estimates of $327.20 million. During the same period in the prior year, the company posted $1.83 EPS. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, analysts anticipate that Tennant will post 5.89 EPS for the current year.

Tennant Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Friday, August 29th. Tennant’s dividend payout ratio is 36.76%.

Hedge Funds Weigh In On Tennant

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in Tennant by 429.0% during the 1st quarter. GAMMA Investing LLC now owns 492 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 399 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Tennant by 194.8% during the 1st quarter. Farther Finance Advisors LLC now owns 619 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 409 shares in the last quarter. Banque Transatlantique SA bought a new position in Tennant during the 1st quarter worth about $59,000. Alta Fox Capital Management LLC bought a new position in Tennant during the 1st quarter worth about $73,000. Finally, State of Wyoming bought a new position in Tennant during the 2nd quarter worth about $73,000. Institutional investors own 93.33% of the company’s stock.

Tennant Company Profile

Tennant Company, together with its subsidiaries, designs, manufactures, and markets floor cleaning equipment in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers a suite of products, including floor maintenance and cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair services, and asset management solutions.