Tennant (NYSE:TNC) Stock Bumped Up to Hold by Zacks Research

Zacks Research upgraded shares of Tennant (NYSE:TNC) from a strong sell rating to a hold rating in a research note issued to investors on Thursday,Zacks reports.

Several other research firms have also recently issued reports on TNC. Weiss Ratings cut Tennant from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, September 11th. Wall Street Zen upgraded Tennant from a “hold” rating to a “buy” rating in a research note on Saturday. UBS Group set a $85.00 target price on Tennant in a research note on Thursday. Finally, Freedom Broker upgraded Tennant from a “hold” rating to a “buy” rating and increased their target price for the stock from $77.00 to $85.00 in a research report on Thursday. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $87.00.

Tennant Trading Up 0.7%

Shares of NYSE TNC traded up $0.52 during midday trading on Thursday, reaching $71.38. 168,621 shares of the stock were exchanged, compared to its average volume of 143,894. The company has a market capitalization of $1.22 billion, a P/E ratio of 53.27, a P/E/G ratio of 2.56 and a beta of 1.14. Tennant has a 52-week low of $60.17 and a 52-week high of $91.93. The company has a current ratio of 2.04, a quick ratio of 1.37 and a debt-to-equity ratio of 0.67. The stock has a 50 day moving average price of $67.88 and a 200-day moving average price of $75.75.

Tennant (NYSE:TNC) last announced its quarterly earnings data on Monday, November 2nd. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.42. Tennant had a net margin of 1.85% and a return on equity of 13.25%. The business had revenue of $322.30 million for the quarter, compared to the consensus estimate of $330.75 million. During the same quarter in the prior year, the firm posted $1.46 earnings per share. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities research analysts expect that Tennant will post 4.07 earnings per share for the current fiscal year.

Tennant Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be issued a dividend of $0.3250 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Monday, November 30th. This is a positive change from Tennant’s previous quarterly dividend of $0.31. Tennant’s payout ratio is currently 92.54%.

Insider Buying and Selling

In other news, Director Patrick Allen bought 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were acquired at an average cost of $69.42 per share, with a total value of $208,260.00. Following the transaction, the director owned 4,927 shares of the company’s stock, valued at $342,032.34. This represents a 155.68% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Timothy Morse bought 1,500 shares of Tennant stock in a transaction that occurred on Wednesday, August 12th. The stock was purchased at an average price of $68.18 per share, for a total transaction of $102,270.00. Following the acquisition, the director directly owned 10,614 shares of the company’s stock, valued at $723,662.52. The trade was a 16.46% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have bought 12,500 shares of company stock valued at $849,250. 3.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tennant

A number of large investors have recently modified their holdings of TNC. BlackRock Inc. purchased a new stake in shares of Tennant during the 2nd quarter worth about $236,255,000. Bank of New York Mellon Corp purchased a new position in Tennant in the second quarter valued at approximately $28,562,000. Gamco Investors INC. ET AL raised its holdings in Tennant by 40.5% in the first quarter. Gamco Investors INC. ET AL now owns 706,400 shares of the industrial products company’s stock valued at $46,905,000 after buying an additional 203,802 shares during the period. Bank of America Corp DE purchased a new position in Tennant in the second quarter valued at approximately $6,178,000. Finally, Dimensional Fund Advisors LP lifted its position in Tennant by 8.4% during the first quarter. Dimensional Fund Advisors LP now owns 634,158 shares of the industrial products company’s stock valued at $42,106,000 after buying an additional 49,136 shares in the last quarter. 93.33% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Tennant

Here are the key news stories impacting Tennant this week:

• Positive Sentiment: Freedom Broker upgraded Tennant from “hold” to “buy” and raised its price target from $77 to $85, implying about 19% upside from the cited $71.38 price. Freedom Broker ratings
• Positive Sentiment: Sidoti raised its FY2026 EPS estimate to $4.07 from $3.95 and its Q1 2027 estimate to $1.09 from $0.96, suggesting improvement in those periods.
• Neutral Sentiment: Sidoti’s newly issued forecast calls for EPS of $5.43 in FY2027 and $6.42 in FY2028; the longer-term figures provide a growth outlook but are estimates, not company guidance.
• Negative Sentiment: Sidoti cut estimates for Q4 2026 to $1.26 from $1.55, Q2 2027 to $1.49 from $1.59, and Q3 2027 to $1.30 from $1.51. It also lowered FY2027 EPS to $5.43 from $5.82 and Q4 2027 to $1.55 from $1.76, signaling weaker expectations across several periods.

Tennant Company Profile

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.