Tennant (NYSE:TNC) Sets New 52-Week High – Should You Buy?

Tennant Company (NYSE:TNC) shares reached a new 52-week high on Friday . The company traded as high as $88.86 and last traded at $87.75, with a volume of 28917 shares changing hands. The stock had previously closed at $87.53.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TNC. Roth Mkm restated a “buy” rating and set a $91.00 target price (down from $107.00) on shares of Tennant in a research report on Wednesday, February 25th. Wall Street Zen raised shares of Tennant from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Freedom Capital cut shares of Tennant from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Weiss Ratings upgraded Tennant from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, June 5th. Finally, Zacks Research upgraded Tennant from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Tennant has an average rating of “Moderate Buy” and an average target price of $91.00.

Tennant Price Performance

The company has a market cap of $1.50 billion, a price-to-earnings ratio of 53.08, a PEG ratio of 2.39 and a beta of 1.12. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.41 and a current ratio of 2.12. The company has a 50-day simple moving average of $81.50 and a 200-day simple moving average of $76.30.

Tennant (NYSE:TNC) last issued its 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 firm had revenue of $297.90 million for the quarter, compared to analysts’ expectations of $289.25 million. During the same quarter last year, the company posted $1.12 earnings per share. Tennant’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, research analysts predict that Tennant Company will post 5.12 earnings per share for the current year.

Tennant Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, May 29th. Tennant’s dividend payout ratio (DPR) is currently 74.70%.

Tennant declared that its Board of Directors has approved a stock repurchase plan on Monday, May 4th that permits the company to repurchase 2,000,000,000,000 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 often a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TNC. Comerica Bank boosted its position in shares of Tennant by 1.2% in the third quarter. Comerica Bank now owns 12,290 shares of the industrial products company’s stock valued at $996,000 after acquiring an additional 144 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Tennant by 2.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 6,115 shares of the industrial products company’s stock valued at $451,000 after acquiring an additional 148 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in Tennant by 85.1% in the fourth quarter. Hantz Financial Services Inc. now owns 385 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 177 shares during the period. Swiss National Bank increased its position in shares of Tennant by 0.6% during the 3rd quarter. Swiss National Bank now owns 34,300 shares of the industrial products company’s stock worth $2,780,000 after purchasing an additional 200 shares during the last quarter. Finally, First Affirmative Financial Network raised its position in shares of Tennant by 7.2% during the 3rd quarter. First Affirmative Financial Network now owns 3,270 shares of the industrial products company’s stock worth $265,000 after acquiring an additional 220 shares in the last quarter. 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.