Lindsay Corp. (LNN) Trading 5% Higher
Lindsay Corp. (NYSE:LNN) traded up 5% during trading on Friday . The stock traded as high as $72.64 and last traded at $70.54, with a volume of 302,055 shares. The stock had previously closed at $67.20.
Several equities research analysts have recently commented on the stock. TheStreet upgraded shares of Lindsay Corp. from a “hold” rating to a “buy” rating in a research note on Friday, July 1st. Stifel Nicolaus downgraded shares of Lindsay Corp. from a “hold” rating to a “sell” rating and set a $64.00 price objective for the company. in a research note on Thursday, June 2nd. Seaport Global Securities assumed coverage on shares of Lindsay Corp. in a research note on Tuesday, May 24th. They set a “neutral” rating and a $67.00 price objective for the company. Sterne Agee CRT reiterated a “neutral” rating and set a $69.00 price objective on shares of Lindsay Corp. in a research note on Thursday, April 14th. Finally, Wedbush reiterated a “hold” rating on shares of Lindsay Corp. in a research note on Saturday, April 2nd. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Lindsay Corp. has a consensus rating of “Hold” and a consensus price target of $70.38.
The stock has a market capitalization of $749.20 million and a P/E ratio of 84.71. The firm’s 50-day moving average price is $70.00 and its 200-day moving average price is $71.37.
Lindsay Corp. (NYSE:LNN) last announced its quarterly earnings data on Thursday, June 30th. The company reported $0.90 EPS for the quarter, missing the Zacks’ consensus estimate of $0.99 by $0.09. The business had revenue of $141.30 million for the quarter. During the same period in the prior year, the firm posted $1.10 EPS. The business’s revenue was down 12.1% on a year-over-year basis. Equities analysts expect that Lindsay Corp. will post $1.83 EPS for the current fiscal year.
In other news, CFO Brian L. Ketcham acquired 500 shares of the company’s stock in a transaction on Thursday, May 12th. The shares were bought at an average cost of $69.39 per share, with a total value of $34,695.00. Following the transaction, the chief financial officer now owns 1,463 shares in the company, valued at approximately $101,517.57. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Several large investors have recently made changes to their positions in the stock. American Capital Management Inc. increased its stake in shares of Lindsay Corp. by 0.3% in the fourth quarter. American Capital Management Inc. now owns 30,090 shares of the company’s stock worth $2,179,000 after buying an additional 90 shares in the last quarter. California State Teachers Retirement System increased its position in Lindsay Corp. by 1.4% in the fourth quarter. California State Teachers Retirement System now owns 21,866 shares of the company’s stock worth $1,583,000 after buying an additional 300 shares during the period. Rhumbline Advisers increased its position in Lindsay Corp. by 4.7% in the fourth quarter. Rhumbline Advisers now owns 23,338 shares of the company’s stock worth $1,690,000 after buying an additional 1,040 shares during the period. Morgan Stanley increased its position in Lindsay Corp. by 11.7% in the fourth quarter. Morgan Stanley now owns 22,023 shares of the company’s stock worth $1,594,000 after buying an additional 2,308 shares during the period. Finally, First Trust Advisors LP increased its position in Lindsay Corp. by 10.7% in the fourth quarter. First Trust Advisors LP now owns 73,042 shares of the company’s stock worth $5,288,000 after buying an additional 7,069 shares during the period.
Lindsay Corporation provides a range of water management and road infrastructure products and services. The Company operates through two segments: Irrigation Segment and Infrastructure Segment. Its Irrigation Segment includes the manufacture and marketing of center pivot, lateral move and hose reel irrigation systems, which are used principally in the agricultural industry.
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