Analysts Set Lindsay Co. (NYSE:LNN) Price Target at $138.33

Shares of Lindsay Co. (NYSE:LNN) have been assigned an average rating of “Moderate Buy” from the four brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $138.33.

Several research firms have recently commented on LNN. Northcoast Research raised shares of Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 price target for the company in a report on Friday, April 5th. TheStreet lowered shares of Lindsay from a “b-” rating to a “c+” rating in a report on Tuesday, March 5th. Finally, StockNews.com lowered shares of Lindsay from a “buy” rating to a “hold” rating in a report on Friday, April 12th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LNN. Pacer Advisors Inc. acquired a new position in Lindsay during the 4th quarter valued at about $24,285,000. American Century Companies Inc. raised its position in shares of Lindsay by 3,922.9% during the 3rd quarter. American Century Companies Inc. now owns 190,726 shares of the industrial products company’s stock worth $22,445,000 after buying an additional 185,985 shares in the last quarter. Robeco Schweiz AG bought a new stake in shares of Lindsay during the 3rd quarter worth about $15,851,000. Norges Bank bought a new stake in shares of Lindsay during the 4th quarter worth about $10,751,000. Finally, Nuance Investments LLC raised its position in shares of Lindsay by 19.2% during the 3rd quarter. Nuance Investments LLC now owns 350,675 shares of the industrial products company’s stock worth $41,267,000 after buying an additional 56,526 shares in the last quarter. 89.94% of the stock is owned by institutional investors and hedge funds.

Lindsay Price Performance

Shares of LNN stock opened at $113.97 on Monday. The firm has a market cap of $1.26 billion, a P/E ratio of 18.18 and a beta of 0.63. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.58. Lindsay has a 1-year low of $106.46 and a 1-year high of $137.31. The firm has a fifty day moving average of $116.51 and a two-hundred day moving average of $122.48.

Lindsay (NYSE:LNN) last posted its quarterly earnings results on Thursday, April 4th. The industrial products company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.52 by $0.12. Lindsay had a net margin of 10.74% and a return on equity of 15.04%. The business had revenue of $151.50 million during the quarter, compared to analyst estimates of $172.06 million. During the same period in the previous year, the business posted $1.63 EPS. The company’s quarterly revenue was down 8.8% on a year-over-year basis. As a group, research analysts anticipate that Lindsay will post 5.3 earnings per share for the current fiscal year.

Lindsay Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Thursday, May 16th. Lindsay’s payout ratio is 22.33%.

Lindsay Company Profile

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