Tennant (NYSE:TNC) Stock Rating Upgraded by Zacks Research

Tennant (NYSE:TNC) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

TNC has been the topic of a number of other reports. Roth Mkm restated a “buy” rating and set a $91.00 price target (down from $107.00) on shares of Tennant in a research report on Wednesday, February 25th. Wall Street Zen upgraded Tennant from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings lowered Tennant from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Finally, Freedom Capital lowered Tennant from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $91.00.

Tennant Trading Up 1.1%

TNC stock opened at $87.13 on Tuesday. Tennant has a 1-year low of $60.17 and a 1-year high of $88.86. The firm has a market cap of $1.48 billion, a P/E ratio of 52.49, a P/E/G ratio of 2.40 and a beta of 1.12. The business’s 50 day moving average is $77.13 and its 200-day moving average is $75.21. The company has a current ratio of 2.12, a quick ratio of 1.41 and a debt-to-equity ratio of 0.67.

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

Tennant declared that its Board of Directors has approved a share buyback plan on Monday, May 4th that permits the company to repurchase 2,000,000,000,000 outstanding shares. This repurchase authorization permits the industrial products company to purchase up to 11.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Donal L. Mulligan purchased 3,000 shares of the business’s stock in a transaction dated Friday, February 27th. The shares were bought at an average price of $61.61 per share, with a total value of $184,830.00. Following the purchase, the director directly owned 8,000 shares in the company, valued at $492,880. This trade represents a 60.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director James T. Jr. Glerum purchased 8,163 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was bought at an average cost of $61.25 per share, for a total transaction of $499,983.75. Following the purchase, the director owned 8,600 shares in the company, valued at $526,750. This trade represents a 1,867.96% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TNC. Hantz Financial Services Inc. lifted its stake in shares of Tennant by 85.1% in the 4th quarter. Hantz Financial Services Inc. now owns 385 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 177 shares during the period. UMB Bank n.a. raised its stake in Tennant by 1,778.6% during the 4th quarter. UMB Bank n.a. now owns 526 shares of the industrial products company’s stock worth $39,000 after buying an additional 498 shares during the period. State of Wyoming acquired a new stake in Tennant during the 2nd quarter worth $73,000. BNP Paribas Financial Markets raised its stake in Tennant by 25.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,936 shares of the industrial products company’s stock worth $150,000 after buying an additional 389 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in 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 worth $193,000 after buying an additional 722 shares during the period. Institutional investors and hedge funds own 93.33% of the company’s stock.

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.