Wall Street Zen Upgrades Tennant (NYSE:TNC) to Buy

Key Points

• Wall Street Zen upgraded Tennant from “hold” to “buy.” Analyst opinions remain mixed overall: MarketBeat reported an average “hold” rating and an average price target of $87.
• Tennant reported quarterly earnings per share of $1.40, beating the $0.98 consensus, while revenue of $322.3 million missed expectations of $330.75 million; revenue rose 6.3% year over year.
• Company insiders purchased a total of 12,500 shares worth about $849,250 over the past 90 days.

Tennant (NYSE:TNC - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday, Wall Street Zen reports.

Other research analysts also recently issued research reports about the company. UBS Group set a $85.00 price objective on Tennant in a research note on Thursday. Weiss Ratings cut shares of Tennant from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, September 11th. Freedom Broker upgraded Tennant from a "hold" rating to a "buy" rating and boosted their price target for the company from $77.00 to $85.00 in a research note on Thursday. Finally, Zacks Research lowered Tennant from a "strong-buy" rating to a "strong sell" rating in a research note on Monday, August 10th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Tennant currently has an average rating of "Hold" and an average target price of $87.00.

Tennant Stock Up 0.7%

Tennant stock opened at $71.38 on Friday. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 2.56 and a beta of 1.14. The company has a current ratio of 2.04, a quick ratio of 1.37 and a debt-to-equity ratio of 0.67. Tennant has a twelve month low of $60.17 and a twelve month high of $91.93. The stock has a 50 day moving average of $67.88 and a two-hundred day moving average of $75.75.

Tennant (NYSE:TNC - Get Free Report) last announced its quarterly earnings results on Monday, November 2nd. The industrial products company reported $1.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.42. The firm had revenue of $322.30 million during the quarter, compared to analysts' expectations of $330.75 million. Tennant had a net margin of 1.85% and a return on equity of 13.25%. The firm's revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.46 EPS. As a group, research analysts expect that Tennant will post 4.07 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Patrick E. Allen acquired 3,000 shares of the stock in a transaction on Monday, August 31st. The stock was acquired at an average price of $69.42 per share, for a total transaction of $208,260.00. Following the completion of the purchase, the director owned 4,927 shares of the company's stock, valued at $342,032.34. This represents a 155.68% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Donal L. Mulligan bought 8,000 shares of Tennant stock in a transaction dated Wednesday, August 12th. The stock was purchased at an average cost of $67.34 per share, for a total transaction of $538,720.00. Following the purchase, the director owned 16,000 shares of the company's stock, valued at approximately $1,077,440. This trade represents a 100.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders acquired 12,500 shares of company stock worth $849,250. Company insiders own 3.50% of the company's stock.

Hedge Funds Weigh In On Tennant

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Tennant in the 2nd quarter worth about $236,255,000. Gamco Investors INC. ET AL boosted its stake in shares of Tennant by 40.5% in the 1st quarter. Gamco Investors INC. ET AL now owns 706,400 shares of the industrial products company's stock valued at $46,905,000 after purchasing an additional 203,802 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings 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 worth $42,106,000 after acquiring an additional 49,136 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Tennant during the second quarter valued at approximately $28,562,000. Finally, Gabelli Funds LLC raised its stake in Tennant by 11.6% in the 1st quarter. Gabelli Funds LLC now owns 199,700 shares of the industrial products company's stock worth $13,260,000 after purchasing an additional 20,808 shares in the last quarter. 93.33% of the stock is owned by institutional investors and hedge funds.

More Tennant News

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.

About Tennant

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.

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