Lindsay (NYSE:LNN) Lifted to “B-” at TheStreet

TheStreet upgraded shares of Lindsay (NYSE:LNN) from a c+ rating to a b- rating in a research report released on Thursday, November 16th.

Other equities research analysts have also issued reports about the stock. BidaskClub lowered shares of Lindsay from a buy rating to a hold rating in a report on Saturday, August 5th. Piper Jaffray Companies set a $80.00 target price on shares of Lindsay and gave the stock a hold rating in a report on Saturday, August 5th. Zacks Investment Research downgraded shares of Lindsay from a buy rating to a hold rating in a research report on Friday, July 28th. Stifel Nicolaus set a $76.00 price objective on shares of Lindsay and gave the company a hold rating in a research report on Friday, August 18th. Finally, Boenning Scattergood reaffirmed a hold rating on shares of Lindsay in a research report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Lindsay presently has a consensus rating of Hold and an average target price of $95.00.

Shares of Lindsay (NYSE:LNN) opened at $93.10 on Thursday. Lindsay has a one year low of $72.85 and a one year high of $96.22. The company has a quick ratio of 2.25, a current ratio of 3.18 and a debt-to-equity ratio of 0.43. The firm has a market cap of $995.89, a P/E ratio of 43.10, a PEG ratio of 2.10 and a beta of 0.50.

Lindsay (NYSE:LNN) last posted its quarterly earnings results on Thursday, October 12th. The industrial products company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.18. Lindsay had a net margin of 4.47% and a return on equity of 8.95%. The business had revenue of $131.94 million during the quarter, compared to analysts’ expectations of $134.83 million. sell-side analysts forecast that Lindsay will post 2.95 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend was Wednesday, November 15th. Lindsay’s dividend payout ratio (DPR) is presently 55.56%.

Several hedge funds have recently added to or reduced their stakes in LNN. Teachers Advisors LLC lifted its stake in shares of Lindsay by 1.6% in the 1st quarter. Teachers Advisors LLC now owns 20,768 shares of the industrial products company’s stock worth $1,830,000 after acquiring an additional 337 shares during the period. Legal & General Group Plc lifted its stake in shares of Lindsay by 1.1% in the first quarter. Legal & General Group Plc now owns 18,768 shares of the industrial products company’s stock valued at $1,654,000 after purchasing an additional 197 shares during the period. Vanguard Group Inc. lifted its stake in shares of Lindsay by 5.5% in the first quarter. Vanguard Group Inc. now owns 992,657 shares of the industrial products company’s stock valued at $87,472,000 after purchasing an additional 51,592 shares during the period. Geode Capital Management LLC lifted its stake in shares of Lindsay by 3.1% in the first quarter. Geode Capital Management LLC now owns 80,715 shares of the industrial products company’s stock valued at $7,112,000 after purchasing an additional 2,404 shares during the period. Finally, BlackRock Inc. lifted its stake in shares of Lindsay by 7,401.9% in the first quarter. BlackRock Inc. now owns 1,325,961 shares of the industrial products company’s stock valued at $116,844,000 after purchasing an additional 1,308,286 shares during the period. Institutional investors own 94.35% of the company’s stock.

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Lindsay Company Profile

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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