Lindsay (NYSE:LNN) was downgraded by Boenning Scattergood from an “outperform” rating to a “neutral” rating in a report released on Wednesday, MarketBeat Ratings reports.

LNN has been the topic of a number of other reports. ValuEngine cut Lindsay from a “buy” rating to a “hold” rating in a research report on Saturday, February 2nd. Zacks Investment Research raised shares of Lindsay from a “sell” rating to a “hold” rating in a research note on Tuesday, February 12th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Lindsay currently has a consensus rating of “Hold” and a consensus price target of $102.60.

Shares of LNN opened at $78.43 on Wednesday. The stock has a market cap of $832.27 million, a price-to-earnings ratio of 26.68 and a beta of 0.26. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.63 and a current ratio of 3.85. Lindsay has a fifty-two week low of $76.35 and a fifty-two week high of $109.50.

Lindsay (NYSE:LNN) last announced its quarterly earnings results on Tuesday, April 9th. The industrial products company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.60). The company had revenue of $109.20 million for the quarter, compared to analyst estimates of $115.43 million. Lindsay had a return on equity of 9.72% and a net margin of 2.55%. Lindsay’s revenue for the quarter was down 16.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.56 earnings per share. On average, analysts expect that Lindsay will post 1.84 EPS for the current year.

A number of institutional investors have recently bought and sold shares of LNN. Norges Bank acquired a new position in shares of Lindsay in the fourth quarter worth $6,609,000. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Lindsay in the first quarter worth $5,697,000. Voya Investment Management LLC lifted its position in shares of Lindsay by 28.3% during the 1st quarter. Voya Investment Management LLC now owns 262,865 shares of the industrial products company’s stock worth $25,443,000 after purchasing an additional 57,987 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Lindsay by 11.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 261,970 shares of the industrial products company’s stock worth $25,215,000 after purchasing an additional 27,339 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its position in shares of Lindsay by 3.9% during the 3rd quarter. Neuberger Berman Group LLC now owns 725,525 shares of the industrial products company’s stock worth $72,727,000 after purchasing an additional 27,100 shares during the last quarter. Hedge funds and other institutional investors own 93.10% of the company’s stock.

Lindsay Company Profile

Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. The company's Irrigation segment manufactures and markets center pivot, lateral move irrigation systems, and irrigation controls under the Zimmatic brand; hose reel travelers under the Perrot and Greenfield brands; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems under the GrowSmart brand.

Further Reading: Support Level

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