Tennant (NYSE:TNC) Stock Price Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Tennant shares rose above their 200-day moving average, trading as high as $87.04 versus a 200-day average of $78.49, which may signal improving momentum.
• Analyst sentiment has turned moderately positive, with recent upgrades from Wall Street Zen and Zacks Research; the stock now carries an average price target of $91.00.
• Recent fundamentals were solid, as Tennant beat quarterly EPS and revenue estimates, announced a $0.31 quarterly dividend, and authorized a large share repurchase plan.

Tennant Company (NYSE:TNC - Get Free Report) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $78.49 and traded as high as $87.04. Tennant shares last traded at $86.3050, with a volume of 177,422 shares traded.

Analyst Upgrades and Downgrades

TNC has been the topic of several recent research reports. Wall Street Zen raised shares of Tennant from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Zacks Research raised Tennant from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 26th. Finally, Weiss Ratings upgraded Tennant from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $91.00.

Tennant Stock Performance

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 company's fifty day moving average price is $86.05 and its 200 day moving average price is $78.49. The company has a market cap of $1.47 billion, a PE ratio of 51.99, a P/E/G ratio of 2.38 and a beta of 1.12.

Tennant (NYSE:TNC - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The industrial products company reported $0.58 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $289.25 million. During the same period in the previous year, the company earned $1.12 earnings per share. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. Tennant has set its FY 2026 guidance at 4.700-5.300 EPS. On average, equities research analysts predict that Tennant Company will post 5.12 earnings per share for the current year.

Tennant Announces Dividend

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

Tennant declared that its board has initiated a stock repurchase plan on Monday, May 4th that allows the company to repurchase 2,000,000,000,000 shares. This repurchase authorization allows the industrial products company to repurchase up to 11.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Institutional Trading of Tennant

A number of hedge funds have recently bought and sold shares of TNC. Comerica Bank grew its holdings in shares of Tennant by 1.2% during the third quarter. Comerica Bank now owns 12,290 shares of the industrial products company's stock worth $996,000 after purchasing an additional 144 shares in the last quarter. Daiwa Securities Group Inc. increased its position 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 worth $451,000 after purchasing an additional 148 shares during the last quarter. Hantz Financial Services Inc. raised its stake 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 purchasing an additional 177 shares in the last quarter. Swiss National Bank raised its stake in Tennant by 0.6% in the third quarter. Swiss National Bank now owns 34,300 shares of the industrial products company's stock valued at $2,780,000 after purchasing an additional 200 shares in the last quarter. Finally, First Affirmative Financial Network lifted its position in Tennant by 7.2% during the third quarter. First Affirmative Financial Network now owns 3,270 shares of the industrial products company's stock valued at $265,000 after purchasing an additional 220 shares during the last quarter. 93.33% of the stock is currently owned by institutional investors.

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.

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