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

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

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

Tennant Stock Performance

NYSE TNC opened at $81.71 on Thursday. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 14.41 and a beta of 1.00. The company has a quick ratio of 1.43, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. Tennant has a twelve month low of $80.03 and a twelve month high of $124.11. The stock has a fifty day simple moving average of $88.32 and a 200 day simple moving average of $94.25.

Tennant (NYSE:TNC) last issued its quarterly earnings results 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). Tennant had a net margin of 8.52% and a return on equity of 21.50%. The company had revenue of $315.80 million during the quarter, compared to analyst estimates of $319.40 million. During the same period in the previous year, the company posted $1.34 EPS. The company’s quarterly revenue was up 3.6% on a year-over-year basis. Sell-side analysts expect that Tennant will post 6.43 EPS for the current year.

Tennant Increases Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. lifted its stake in Tennant by 1.3% in the third quarter. Franklin Resources Inc. now owns 12,908 shares of the industrial products company’s stock valued at $1,213,000 after purchasing an additional 169 shares during the last quarter. TD Private Client Wealth LLC grew its stake in shares of Tennant by 43.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 839 shares of the industrial products company’s stock worth $81,000 after acquiring an additional 255 shares during the period. Geode Capital Management LLC increased its holdings in Tennant by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 436,933 shares of the industrial products company’s stock worth $41,971,000 after acquiring an additional 5,862 shares during the last quarter. Barclays PLC raised its stake in Tennant by 222.8% in the 3rd quarter. Barclays PLC now owns 40,151 shares of the industrial products company’s stock valued at $3,857,000 after acquiring an additional 27,712 shares during the period. Finally, Y Intercept Hong Kong Ltd lifted its holdings in Tennant by 59.7% during the third quarter. Y Intercept Hong Kong Ltd now owns 15,077 shares of the industrial products company’s stock valued at $1,448,000 after purchasing an additional 5,636 shares during the last quarter. Institutional investors 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.