Tennant (NYSE:TNC) Research Coverage Started at Roth Capital

Roth Capital started coverage on shares of Tennant (NYSE:TNC) in a research note published on Friday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $102.00 price objective on the industrial products company’s stock.

TNC has been the subject of a number of other reports. Wall Street Zen raised shares of Tennant from a “hold” rating to a “buy” rating in a report on Saturday, September 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Tennant in a report on Tuesday, October 14th. Finally, Zacks Research raised shares of Tennant to a “hold” rating in a report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Tennant currently has an average rating of “Moderate Buy” and a consensus target price of $113.50.

Tennant Price Performance

NYSE TNC opened at $81.78 on Friday. The company has a current ratio of 2.09, a quick ratio of 1.38 and a debt-to-equity ratio of 0.33. The company has a fifty day simple moving average of $81.39 and a 200 day simple moving average of $78.31. The company has a market cap of $1.51 billion, a P/E ratio of 25.48, a P/E/G ratio of 1.77 and a beta of 1.06. Tennant has a 1 year low of $67.32 and a 1 year high of $94.86.

Tennant (NYSE:TNC) last posted its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.14). The firm had revenue of $318.60 million for 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%.Tennant’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.83 earnings per share. On average, sell-side analysts predict that Tennant will post 5.89 EPS for the current year.

Tennant Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid a $0.295 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.4%. Tennant’s dividend payout ratio is currently 36.76%.

Hedge Funds Weigh In On Tennant

A number of hedge funds have recently made changes to their positions in the business. Brown Advisory Inc. raised its stake in shares of Tennant by 3.4% in the 1st quarter. Brown Advisory Inc. now owns 568,138 shares of the industrial products company’s stock valued at $45,309,000 after buying an additional 18,537 shares in the last quarter. Gamco Investors INC. ET AL lifted its holdings in Tennant by 5.0% during the 2nd quarter. Gamco Investors INC. ET AL now owns 498,202 shares of the industrial products company’s stock valued at $38,601,000 after purchasing an additional 23,552 shares during the last quarter. American Century Companies Inc. lifted its holdings in Tennant by 54.2% during the 2nd quarter. American Century Companies Inc. now owns 343,614 shares of the industrial products company’s stock valued at $26,623,000 after purchasing an additional 120,793 shares during the last quarter. Invenomic Capital Management LP lifted its holdings in Tennant by 277.1% during the 1st quarter. Invenomic Capital Management LP now owns 279,800 shares of the industrial products company’s stock valued at $22,314,000 after purchasing an additional 205,596 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Tennant by 7.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 279,234 shares of the industrial products company’s stock valued at $22,269,000 after purchasing an additional 20,225 shares during the last quarter. Institutional investors and hedge funds own 93.33% of the company’s stock.

About Tennant

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.