Tennant Company (NYSE:TNC) Stock Has Consensus Price Target of $88.00 According to Brokerages

Key Points

• Analyst sentiment is mixed: Five brokerages give Tennant a consensus “Hold” rating, with an average 12-month price target of $88.
• Third-quarter earnings beat expectations: EPS was $1.40 versus $0.98 expected, while revenue rose 6.3% year over year to $322.3 million but missed estimates.
• Tennant raised its quarterly dividend from $0.31 to $0.325 per share, and company directors bought shares in recent transactions.

Tennant Company (NYSE:TNC - Get Free Report) has received a consensus recommendation of "Hold" from the five brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $88.00.

TNC has been the topic of several research reports. Freedom Broker raised Tennant from a "hold" rating to a "buy" rating and upped their price target for the company from $77.00 to $85.00 in a research note on Thursday. Wall Street Zen cut Tennant from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Zacks Research cut shares of Tennant from a "strong-buy" rating to a "strong sell" rating in a report on Monday, August 10th. Finally, Weiss Ratings lowered Tennant from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, September 11th.

More Tennant News

Here are the key news stories impacting Tennant this week:

• Positive Sentiment: Recent third-quarter results showed EPS of $1.40, above the $0.98 consensus, and revenue growth of 6.3% year over year. Revenue of $322.3 million did fall short of estimates, but a Q3 analysis pointed to robotics momentum and ERP progress supporting margin recovery. TNC Q3 deep dive article
• Positive Sentiment: Tennant was among the companies reported to have raised its quarterly dividend, which may support investor interest, though the article notes that payout growth depends on cash flow. Dividend article
• Neutral Sentiment: Sidoti forecasts FY2028 EPS of $6.42, with quarterly estimates ranging from $1.52 to $1.68. These are analyst projections rather than company guidance.
• Negative Sentiment: Sidoti cut its FY2027 EPS estimate to $5.43 from $5.82 and its Q4 2027 estimate to $1.55 from $1.76, signaling a softer near-term earnings outlook.

Insiders Place Their Bets

In other Tennant news, Director Donal Mulligan purchased 8,000 shares of the business's stock in a transaction on Wednesday, August 12th. The shares were purchased at an average cost of $67.34 per share, with a total value of $538,720.00. Following the transaction, the director directly owned 16,000 shares of the company's stock, valued at $1,077,440. This represents a 100.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Timothy Morse acquired 1,500 shares of Tennant stock in a transaction dated Wednesday, August 12th. The shares were acquired at an average price of $68.18 per share, with a total value of $102,270.00. Following the completion of the purchase, the director owned 10,614 shares in the company, valued at approximately $723,662.52. The trade was a 16.46% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 12,500 shares of company stock valued at $849,250 in the last three months. 3.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tennant

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE acquired a new stake in Tennant in the 2nd quarter valued at about $6,178,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Tennant in the second quarter valued at approximately $2,950,000. Gabelli Funds LLC boosted its stake in shares of Tennant by 11.6% during the 1st quarter. Gabelli Funds LLC now owns 199,700 shares of the industrial products company's stock worth $13,260,000 after acquiring an additional 20,808 shares during the period. WINTON GROUP Ltd increased its holdings in shares of Tennant by 181.7% during the 2nd quarter. WINTON GROUP Ltd now owns 41,389 shares of the industrial products company's stock worth $3,623,000 after acquiring an additional 26,697 shares during the last quarter. Finally, BlackRock Inc. bought a new stake in Tennant in the 2nd quarter valued at $236,255,000. Institutional investors own 93.33% of the company's stock.

Tennant Stock Performance

NYSE:TNC opened at $73.13 on Thursday. The company has a quick ratio of 1.37, a current ratio of 2.18 and a debt-to-equity ratio of 0.65. The firm has a 50-day moving average price of $67.84 and a 200 day moving average price of $75.82. Tennant has a 12-month low of $60.17 and a 12-month high of $91.93. The firm has a market capitalization of $1.25 billion, a PE ratio of 54.58, a price-to-earnings-growth ratio of 2.61 and a beta of 1.14.

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 (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 13.30%. The firm had revenue of $322.30 million during the quarter, compared to the consensus estimate of $330.75 million. During the same period last year, the firm posted $1.46 EPS. The firm's quarterly revenue was up 6.3% on a year-over-year basis. Research analysts anticipate that Tennant will post 3.95 earnings per share for the current fiscal year.

Tennant Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be issued a dividend of $0.3250 per share. The ex-dividend date is Monday, November 30th. This is a positive change from Tennant's previous quarterly dividend of $0.31. This represents a $1.30 annualized dividend and a yield of 1.8%. Tennant's dividend payout ratio is currently 121.57%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.