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

Key Points

• Tennant's stock price has surpassed its 200-day moving average, trading at $80.19, with a high of $81.08 during the session.
• Analysts have upgraded Tennant's stock rating to a "buy" from a previous "hold," with a consensus target price of $125.00.
• The company's quarterly earnings fell short of estimates, reporting $1.49 EPS compared to the expected $1.63 EPS.

Tennant Company (NYSE:TNC - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $78.09 and traded as high as $81.08. Tennant shares last traded at $80.19, with a volume of 139,763 shares traded.

Analyst Ratings Changes

TNC has been the subject of several research analyst reports. Wall Street Zen upgraded Tennant from a "hold" rating to a "buy" rating in a report on Saturday, September 20th. Zacks Research upgraded Tennant to a "hold" rating in a research note on Tuesday, August 12th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Tennant has a consensus rating of "Moderate Buy" and a consensus target price of $125.00.

Tennant Stock Down 0.5%

The stock has a 50 day simple moving average of $81.92 and a 200-day simple moving average of $78.09. The firm has a market cap of $1.48 billion, a PE ratio of 24.98, a PEG ratio of 1.75 and a beta of 1.09. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.09 and a quick ratio of 1.38.

Tennant (NYSE:TNC - Get Free Report) last posted its earnings results on Wednesday, August 6th. The industrial products company reported $1.49 EPS for the quarter, missing analysts' consensus estimates of $1.63 by ($0.14). The business had revenue of $318.60 million during the quarter, compared to the consensus estimate of $327.20 million. Tennant had a return on equity of 16.41% and a net margin of 4.84%.The firm's revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.83 EPS. Sell-side analysts predict that Tennant Company will post 5.89 EPS for the current fiscal year.

Tennant Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a $0.295 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.5%. Tennant's dividend payout ratio (DPR) is presently 36.76%.

Institutional Trading of Tennant

A number of institutional investors and hedge funds have recently modified their holdings of TNC. GAMMA Investing LLC increased its holdings in shares of Tennant by 429.0% in the 1st quarter. GAMMA Investing LLC now owns 492 shares of the industrial products company's stock worth $39,000 after purchasing an additional 399 shares in the last quarter. Farther Finance Advisors LLC increased its position in Tennant by 194.8% during the first quarter. Farther Finance Advisors LLC now owns 619 shares of the industrial products company's stock valued at $50,000 after acquiring an additional 409 shares during the last quarter. Banque Transatlantique SA purchased a new stake in Tennant during the first quarter valued at $59,000. Alta Fox Capital Management LLC purchased a new stake in Tennant during the first quarter valued at $73,000. Finally, State of Wyoming purchased a new stake in Tennant during the second quarter valued at $73,000. Institutional investors own 93.33% of the company's stock.

Tennant Company Profile

Tennant Company, together with its subsidiaries, designs, manufactures, and markets floor cleaning equipment in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers a suite of products, including floor maintenance and cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair services, and asset management solutions.

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