Lindsay Co. (LNN) Receives Average Recommendation of “Hold” from Analysts

Lindsay Co. (NYSE:LNN) has been given a consensus recommendation of “Hold” by the seven ratings firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $92.67.

Several brokerages have issued reports on LNN. Stifel Nicolaus reiterated a “hold” rating and issued a $91.00 price target on shares of Lindsay in a report on Thursday, December 14th. Zacks Investment Research lowered Lindsay from a “hold” rating to a “sell” rating in a report on Wednesday, December 13th. Finally, TheStreet upgraded Lindsay from a “c+” rating to a “b-” rating in a report on Thursday, November 16th.

In other news, Director Michael Nahl sold 7,200 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $86.43, for a total value of $622,296.00. Following the transaction, the director now owns 3,687 shares in the company, valued at $318,667.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David B. Downing sold 26,265 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $86.14, for a total value of $2,262,467.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,281 shares of company stock worth $5,033,499. Corporate insiders own 3.10% of the company’s stock.

Several hedge funds have recently bought and sold shares of LNN. TIAA CREF Investment Management LLC lifted its holdings in shares of Lindsay by 0.8% in the second quarter. TIAA CREF Investment Management LLC now owns 28,570 shares of the industrial products company’s stock valued at $2,550,000 after purchasing an additional 238 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Lindsay by 0.5% in the second quarter. PNC Financial Services Group Inc. now owns 2,971 shares of the industrial products company’s stock valued at $265,000 after purchasing an additional 14 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Lindsay by 6.2% in the second quarter. New York State Common Retirement Fund now owns 11,900 shares of the industrial products company’s stock valued at $1,062,000 after purchasing an additional 699 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Lindsay by 2.1% in the second quarter. Northern Trust Corp now owns 142,895 shares of the industrial products company’s stock valued at $12,754,000 after purchasing an additional 2,976 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Lindsay by 2.2% in the second quarter. Vanguard Group Inc. now owns 1,014,967 shares of the industrial products company’s stock valued at $90,586,000 after purchasing an additional 22,310 shares in the last quarter. Institutional investors own 93.44% of the company’s stock.

Shares of Lindsay (NYSE:LNN) opened at $92.72 on Friday. Lindsay has a 52-week low of $77.14 and a 52-week high of $96.22. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.24 and a current ratio of 3.29. The company has a market capitalization of $994.52, a PE ratio of 38.97, a P/E/G ratio of 2.00 and a beta of 0.36.

Lindsay (NYSE:LNN) last announced its quarterly earnings results on Thursday, December 21st. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.06). The firm had revenue of $124.53 million during the quarter, compared to the consensus estimate of $117.11 million. Lindsay had a return on equity of 9.65% and a net margin of 4.79%. The firm’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.08 EPS. research analysts forecast that Lindsay will post 3.09 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $1.20 annualized dividend and a yield of 1.29%. Lindsay’s payout ratio is currently 50.42%.

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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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