Tennant (NYSE:TNC) Hits New 52-Week High – What’s Next?

Shares of Tennant Company (NYSE:TNC) reached a new 52-week high during trading on Thursday . The stock traded as high as $91.93 and last traded at $90.6890, with a volume of 26866 shares. The stock had previously closed at $88.77.

Analysts Set New Price Targets

Several research firms recently commented on TNC. Zacks Research raised shares of Tennant from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 26th. Wall Street Zen raised shares of Tennant from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings upgraded shares of Tennant from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tennant presently has an average rating of “Moderate Buy” and a consensus price target of $91.00.

Tennant Trading Down 0.4%

The company has a debt-to-equity ratio of 0.67, a current ratio of 2.12 and a quick ratio of 1.41. The firm’s 50 day moving average is $84.69 and its 200 day moving average is $77.47. The company has a market capitalization of $1.55 billion, a PE ratio of 54.65, a P/E/G ratio of 2.54 and a beta of 1.12.

Tennant (NYSE:TNC) last announced its quarterly earnings results on Monday, May 4th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.18. Tennant had a net margin of 2.55% and a return on equity of 14.87%. The business had revenue of $297.90 million for the quarter, compared to analyst estimates of $289.25 million. During the same quarter last year, the firm earned $1.12 EPS. The company’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. As a group, equities analysts predict that Tennant Company will post 5.12 EPS for the current year.

Tennant Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.24 annualized dividend and a dividend yield of 1.4%. Tennant’s dividend payout ratio (DPR) is presently 74.70%.

Tennant announced that its board has initiated a stock buyback program 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 shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TNC. Hantz Financial Services Inc. grew its position 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 worth $28,000 after buying an additional 177 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Tennant by 1,778.6% during the fourth quarter. UMB Bank n.a. now owns 526 shares of the industrial products company’s stock valued at $39,000 after buying an additional 498 shares during the period. State of Wyoming bought a new position in shares of Tennant during the second quarter valued at approximately $73,000. BNP Paribas Financial Markets raised its holdings in shares of Tennant by 25.1% during the second quarter. BNP Paribas Financial Markets now owns 1,936 shares of the industrial products company’s stock valued at $150,000 after acquiring an additional 389 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Tennant by 40.8% in the second quarter. Tower Research Capital LLC TRC now owns 2,492 shares of the industrial products company’s stock worth $193,000 after acquiring an additional 722 shares during the period. Institutional investors own 93.33% of the company’s stock.

About Tennant

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.