Lindsay Corporation (NYSE:LNN)‘s stock had its “hold” rating reaffirmed by Piper Jaffray Companies in a research note issued to investors on Sunday. They presently have a $80.00 price objective on the industrial products company’s stock. Piper Jaffray Companies’ target price would indicate a potential downside of 7.10% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research raised Lindsay Corporation from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a research note on Wednesday, July 12th. BidaskClub cut Lindsay Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 8th. Sidoti reissued a “buy” rating and issued a $107.00 price objective (up previously from $100.00) on shares of Lindsay Corporation in a research note on Friday, July 7th. Stifel Nicolaus set a $76.00 price objective on Lindsay Corporation and gave the company a “hold” rating in a research note on Friday, August 18th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Lindsay Corporation in a research note on Thursday, June 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Lindsay Corporation presently has an average rating of “Hold” and a consensus target price of $91.50.

Shares of Lindsay Corporation (LNN) opened at 86.11 on Friday. Lindsay Corporation has a 1-year low of $69.11 and a 1-year high of $95.04. The firm has a 50-day moving average price of $88.14 and a 200 day moving average price of $85.98. The company has a market cap of $920.43 million, a PE ratio of 37.31 and a beta of 0.46.

Lindsay Corporation (NYSE:LNN) last announced its quarterly earnings data on Thursday, June 29th. The industrial products company reported $1.02 EPS for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.07. Lindsay Corporation had a return on equity of 9.69% and a net margin of 4.75%. The firm had revenue of $151.50 million during the quarter, compared to analysts’ expectations of $145.30 million. During the same quarter last year, the firm posted $0.90 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities analysts anticipate that Lindsay Corporation will post $2.23 earnings per share for the current year.

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In other news, insider Rick Parod sold 77,387 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $91.47, for a total value of $7,078,588.89. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider David B. Downing sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $89.28, for a total value of $624,960.00. The disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of LNN. State of Alaska Department of Revenue lifted its holdings in shares of Lindsay Corporation by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 1,170 shares of the industrial products company’s stock valued at $103,000 after purchasing an additional 20 shares in the last quarter. Flinton Capital Management LLC lifted its holdings in shares of Lindsay Corporation by 72.7% in the second quarter. Flinton Capital Management LLC now owns 1,292 shares of the industrial products company’s stock valued at $115,000 after purchasing an additional 544 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Lindsay Corporation by 13.7% in the first quarter. Van ECK Associates Corp now owns 1,330 shares of the industrial products company’s stock valued at $117,000 after purchasing an additional 160 shares in the last quarter. Acrospire Investment Management LLC lifted its holdings in shares of Lindsay Corporation by 467.1% in the second quarter. Acrospire Investment Management LLC now owns 1,429 shares of the industrial products company’s stock valued at $128,000 after purchasing an additional 1,177 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Lindsay Corporation in the first quarter valued at approximately $133,000. Institutional investors own 97.44% of the company’s stock.

About Lindsay Corporation

Lindsay Corporation, along with its subsidiaries, provides a range of water management and road infrastructure products and services. The Company operates through two segments: Irrigation Segment and Infrastructure Segment. The Irrigation Segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, which are used primarily in the agricultural industry.

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