Lindsay (NYSE:LNN – Get Free Report) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.
Several other research firms have also recently commented on LNN. Roth Capital upgraded shares of Lindsay from a “neutral” rating to a “buy” rating in a research note on Monday, October 23rd. Stifel Nicolaus lowered their price target on shares of Lindsay from $129.00 to $123.00 and set a “hold” rating on the stock in a report on Tuesday, December 19th. Finally, Roth Mkm raised shares of Lindsay from a “neutral” rating to a “buy” rating and boosted their price target for the company from $128.00 to $150.00 in a report on Monday, October 23rd. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $136.50.
Lindsay Stock Performance
NYSE:LNN traded down $2.38 during trading hours on Friday, hitting $123.35. 54,730 shares of the company traded hands, compared to its average volume of 76,828. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 19.70, a P/E/G ratio of 2.01 and a beta of 0.65. Lindsay has a twelve month low of $106.46 and a twelve month high of $158.99. The firm has a 50-day moving average of $129.97 and a 200 day moving average of $124.53. The company has a current ratio of 3.53, a quick ratio of 2.37 and a debt-to-equity ratio of 0.25.
Lindsay (NYSE:LNN – Get Free Report) last released its earnings results on Thursday, January 4th. The industrial products company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.27 by $0.09. The firm had revenue of $161.40 million during the quarter, compared to analysts’ expectations of $163.44 million. Lindsay had a net margin of 10.49% and a return on equity of 15.53%. The business’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.65 EPS. On average, analysts forecast that Lindsay will post 6.29 EPS for the current year.
Institutional Investors Weigh In On Lindsay
Several institutional investors and hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. bought a new stake in shares of Lindsay in the 4th quarter worth about $24,285,000. American Century Companies Inc. grew its holdings in 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 acquiring an additional 185,985 shares during the last quarter. Robeco Schweiz AG bought a new stake in Lindsay during the 3rd quarter worth about $15,851,000. Norges Bank bought a new stake in Lindsay during the 4th quarter worth about $21,112,000. Finally, Millennium Management LLC grew its holdings in Lindsay by 461.5% during the 2nd quarter. Millennium Management LLC now owns 150,404 shares of the industrial products company’s stock worth $19,977,000 after acquiring an additional 123,619 shares during the last quarter. Institutional investors own 86.28% of the company’s stock.
About Lindsay
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.