Tennant (NYSE:TNC) Now Covered by Analysts at Northcoast Research

Northcoast Research initiated coverage on shares of Tennant (NYSE:TNC) in a research report report published on Thursday, MarketBeat Ratings reports. The firm issued a buy rating and a $125.00 price objective on the industrial products company’s stock.

Separately, StockNews.com cut Tennant from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st.

Tennant Stock Performance

TNC opened at $81.71 on Thursday. Tennant has a 52-week low of $80.03 and a 52-week high of $124.11. The firm has a market capitalization of $1.54 billion, a PE ratio of 14.41 and a beta of 1.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.43 and a current ratio of 2.17. The business’s 50-day simple moving average is $88.32 and its 200 day simple moving average is $94.25.

Tennant (NYSE:TNC) last issued its earnings results on Thursday, October 31st. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.05). The firm had revenue of $315.80 million during the quarter, compared to analyst estimates of $319.40 million. Tennant had a net margin of 8.52% and a return on equity of 21.50%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the business posted $1.34 earnings per share. As a group, sell-side analysts expect that Tennant will post 6.43 earnings per share for the current fiscal year.

Tennant Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a dividend of $0.295 per share. The ex-dividend date was Friday, November 29th. This is an increase from Tennant’s previous quarterly dividend of $0.28. This represents a $1.18 annualized dividend and a yield of 1.44%. Tennant’s dividend payout ratio (DPR) is 20.81%.

Institutional Trading of Tennant

Several institutional investors have recently added to or reduced their stakes in TNC. CWM LLC grew its stake in shares of Tennant by 290.9% in the second quarter. CWM LLC now owns 387 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 288 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in shares of Tennant by 84.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 527 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 241 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Tennant during the second quarter worth approximately $58,000. Point72 DIFC Ltd acquired a new stake in shares of Tennant in the second quarter valued at approximately $71,000. Finally, nVerses Capital LLC bought a new stake in shares of Tennant in the third quarter valued at approximately $77,000. 93.33% of the stock is currently owned by institutional investors.

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.