Tennant

TNC · NYSE

$66.09+$1.52 (+2.35%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $64.57

TNC analyst rating

BuyConsensus of 2 analysts over the last 12 months. 50% rate it a buy.

Strong buy0
Buy1
Hold1
Underperform0
Sell0

12-month price target · 5 analysts

Average $89.50 (+35.4% upside)

Low: $77.77
Now: $66.09
High: $97.65

Upgrades and downgrades

The latest rating actions, newest first

TNC analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Freedom Broker	Feb 26, 2026	Downgrade	Buy → Hold	$93.00 → $67.00	40%
Roth Capital	Feb 25, 2026	Maintains	Buy	$107.00 → $91.00	30%
Roth Capital	Oct 24, 2025	Initiates	Buy	$102.00	30%

The case for and against

Updated Apr 10, 2026

Bull case

Tennant Co has demonstrated strong financial performance with a 13% year-over-year increase in its order book for Q1F25 and a 4% growth in orders for Q2, which indicates consistent demand in a challenging environment. The company has maintained robust underlying business performance, particularly in North America, where total order rates increased by 4% year-over-year, marking the fifth consecutive quarter of order growth and positioning the company for revenue growth above GDP rates. Additionally, improvements in foreign exchange dynamics contributed a positive 5.3%, while the continuing expansion of its autonomous cleaning units is expected to enhance revenue streams in the coming years.

Bear case

Tennant Company reported Q2 2025 revenues of $318.6 million, falling short of the $327.2 million consensus, and reflecting a 3.7% decrease compared to Q2 2024, primarily driven by a $30 million revenue loss linked to a failed go-live and ongoing demand challenges. Organic net sales experienced a 5.5% decline, largely attributed to reduced capital spending by customers and lingering demand weakness in international markets, particularly Mexico, which could hinder future profitability and cash flows. Additionally, adjusted EPS decreased to $1.49 from $1.83 in the previous year, further indicating potential struggles in maintaining operations and fulfilling financial obligations amidst these adverse conditions.

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