Tennant (NYSE:TNC) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Tennant from “hold” to “strong-buy,” while other recent analyst actions were mixed. The stock now carries a consensus rating of “Moderate Buy” with an average price target of $91.00.
• Latest earnings beat expectations, with Tennant reporting EPS of $0.58 versus the $0.40 consensus estimate and revenue of $297.9 million, above forecasts. The company also gave FY 2026 EPS guidance of 4.700 to 5.300.
• Tennant authorized a large share repurchase program and insiders have been buying shares, including two directors who significantly increased their holdings. Institutional ownership remains high at 93.33%.

Tennant (NYSE:TNC - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other analysts have also recently weighed in on TNC. Weiss Ratings cut Tennant from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, May 15th. Freedom Capital cut Tennant from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 26th. Roth Mkm reissued a "buy" rating and set a $91.00 price objective (down from $107.00) on shares of Tennant in a research report on Wednesday, February 25th. Finally, Wall Street Zen raised Tennant from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $91.00.

Tennant Price Performance

Shares of NYSE:TNC opened at $87.13 on Tuesday. Tennant has a fifty-two week low of $60.17 and a fifty-two week high of $88.86. The business has a 50-day moving average of $77.13 and a two-hundred day moving average of $75.21. The stock has a market capitalization of $1.48 billion, a P/E ratio of 52.49, a P/E/G ratio of 2.40 and a beta of 1.12. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.12 and a quick ratio of 1.41.

Tennant (NYSE:TNC - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The industrial products company reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.18. Tennant had a return on equity of 14.87% and a net margin of 2.55%.The company had revenue of $297.90 million during the quarter, compared to analysts' expectations of $289.25 million. During the same quarter in the previous year, the firm earned $1.12 earnings per share. The business's quarterly revenue 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 will post 5.12 EPS for the current fiscal year.

Tennant declared that its board has authorized a stock repurchase program on Monday, May 4th that allows the company to buyback 2,000,000,000,000 shares. This buyback authorization allows the industrial products company to reacquire up to 11.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Insider Activity

In other Tennant news, Director Donal L. Mulligan acquired 3,000 shares of the business's stock in a transaction that occurred on Friday, February 27th. The stock was acquired at an average price of $61.61 per share, with a total value of $184,830.00. Following the transaction, the director owned 8,000 shares of the company's stock, valued at approximately $492,880. This trade represents a 60.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James T. Jr. Glerum purchased 8,163 shares of the business's stock in a transaction on Monday, March 2nd. The stock was purchased at an average cost of $61.25 per share, with a total value of $499,983.75. Following the acquisition, the director owned 8,600 shares in the company, valued at approximately $526,750. This represents a 1,867.96% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 3.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tennant

Several large investors have recently added to or reduced their stakes in the company. Comerica Bank raised its holdings in Tennant by 1.2% in the 3rd 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 in the last quarter. Daiwa Securities Group Inc. raised its holdings in Tennant by 2.5% in the 4th 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. raised its holdings in Tennant by 85.1% in the 4th 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 in the last quarter. Swiss National Bank raised its holdings in Tennant by 0.6% in the 3rd quarter. Swiss National Bank now owns 34,300 shares of the industrial products company's stock valued at $2,780,000 after acquiring an additional 200 shares in the last quarter. Finally, First Affirmative Financial Network raised its holdings in Tennant by 7.2% in the 3rd quarter. First Affirmative Financial Network now owns 3,270 shares of the industrial products company's stock valued at $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.

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