Tennant (NYSE:TNC) Research Coverage Started at Northcoast Research

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

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

Tennant Price Performance

Shares of NYSE TNC opened at $80.29 on Thursday. The company has a current ratio of 2.17, a quick ratio of 1.43 and a debt-to-equity ratio of 0.32. The stock has a fifty day simple moving average of $88.06 and a two-hundred day simple moving average of $94.05. Tennant has a 1-year low of $79.71 and a 1-year high of $124.11. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 14.16 and a beta of 1.00.

Tennant (NYSE:TNC) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.39 earnings per share 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 analysts’ expectations of $319.40 million. Tennant had a return on equity of 21.50% and a net margin of 8.52%. The company’s revenue was up 3.6% compared to the same quarter last year. During the same period last year, the business posted $1.34 EPS. Analysts anticipate that Tennant will post 6.43 earnings per share for the current year.

Tennant Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a dividend of $0.295 per share. This is a positive change from Tennant’s previous quarterly dividend of $0.28. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Friday, November 29th. Tennant’s payout ratio is 20.81%.

Institutional Investors Weigh In On Tennant

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. increased its stake in Tennant by 1.3% in the 3rd quarter. Franklin Resources Inc. now owns 12,908 shares of the industrial products company’s stock worth $1,213,000 after acquiring an additional 169 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Tennant by 3.6% in the 2nd quarter. Arizona State Retirement System now owns 5,053 shares of the industrial products company’s stock worth $497,000 after purchasing an additional 176 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its position in Tennant by 0.5% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 49,251 shares of the industrial products company’s stock valued at $4,848,000 after acquiring an additional 239 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Tennant by 0.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 43,451 shares of the industrial products company’s stock worth $4,173,000 after purchasing an additional 239 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its position in Tennant by 84.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 527 shares of the industrial products company’s stock valued at $51,000 after buying an additional 241 shares during the period. Hedge funds and other 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.