Lindsay (NYSE:LNN) Raised to “Hold” at Zacks Research

Lindsay (NYSE:LNN) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

LNN has been the topic of several other reports. Weiss Ratings lowered Lindsay from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 21st. Stifel Nicolaus lowered their target price on Lindsay from $128.00 to $113.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $113.00.

Lindsay Stock Performance

Shares of LNN opened at $114.74 on Monday. The firm has a market cap of $1.19 billion, a PE ratio of 21.02 and a beta of 0.72. The stock’s fifty day moving average price is $109.97 and its two-hundred day moving average price is $119.21. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.02 and a quick ratio of 2.15. Lindsay has a 1 year low of $97.27 and a 1 year high of $150.96.

Lindsay (NYSE:LNN) last issued its earnings results on Thursday, April 2nd. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.45). The firm had revenue of $157.72 million during the quarter, compared to the consensus estimate of $163.52 million. Lindsay had a net margin of 9.25% and a return on equity of 11.28%. The business’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.44 earnings per share. On average, equities research analysts forecast that Lindsay will post 5.19 EPS for the current year.

Institutional Trading of Lindsay

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp raised its stake in shares of Lindsay by 5.6% during the 2nd quarter. State Street Corp now owns 473,772 shares of the industrial products company’s stock valued at $68,342,000 after purchasing an additional 25,251 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Lindsay by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 352,344 shares of the industrial products company’s stock valued at $41,953,000 after purchasing an additional 6,748 shares during the period. Amundi raised its stake in shares of Lindsay by 39.4% during the 4th quarter. Amundi now owns 269,817 shares of the industrial products company’s stock valued at $31,843,000 after purchasing an additional 76,292 shares during the period. KBC Group NV raised its stake in shares of Lindsay by 15.0% during the 1st quarter. KBC Group NV now owns 268,896 shares of the industrial products company’s stock valued at $32,017,000 after purchasing an additional 35,061 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Lindsay by 10.1% during the 4th quarter. Invesco Ltd. now owns 226,796 shares of the industrial products company’s stock valued at $26,732,000 after purchasing an additional 20,811 shares during the period. 89.94% of the stock is currently owned by institutional investors.

Lindsay Company Profile

Lindsay Corporation (NYSE: LNN) is a U.S.-based manufacturer of agricultural irrigation and infrastructure products. Headquartered in Omaha, Nebraska, the company has built a reputation for designing and producing center pivot and lateral‐move irrigation systems under the Zimmatic brand. These systems feature advanced controls, precision sprinklers and automated monitoring technology that help growers optimize water use, improve crop yields and enhance sustainability in a variety of row-crop, specialty crop and forage operations.

Beyond its core irrigation business, Lindsay operates an infrastructure segment that delivers engineered products and services for water and roadway management.