Lindsay (NYSE:LNN) Downgraded to Strong Sell Rating by Zacks Research

Key Points

• Zacks Research downgraded Lindsay (NYSE: LNN) from "Hold" to a Strong Sell,
• Stifel cut its price target to $113 and the stock carries an average analyst consensus rating of "Reduce" with a $113 consensus price target.
• Lindsay missed quarterly expectations, reporting EPS of $1.15 vs. $1.60 expected and revenue down 15.7% year-over-year, while institutional ownership remains high at about 89.94% with several funds increasing stakes.

Lindsay (NYSE:LNN - Get Free Report) was downgraded by analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report released on Tuesday,Zacks.com reports.

Separately, Stifel Nicolaus reduced their price objective on Lindsay from $128.00 to $113.00 and set a "hold" rating for the company in a research note on Monday. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $113.00.

Lindsay Stock Up 2.5%

Shares of Lindsay stock opened at $108.41 on Tuesday. The stock has a 50-day moving average price of $125.61 and a 200 day moving average price of $123.55. The company has a market cap of $1.13 billion, a P/E ratio of 19.86 and a beta of 0.82. The company has a current ratio of 3.02, a quick ratio of 2.43 and a debt-to-equity ratio of 0.23. Lindsay has a 1 year low of $97.27 and a 1 year high of $150.96.

Lindsay (NYSE:LNN - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $157.72 million during the quarter, compared to analysts' expectations of $163.52 million. Lindsay had a return on equity of 11.28% and a net margin of 9.25%.The firm's revenue was down 15.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.44 earnings per share. As a group, analysts expect that Lindsay will post 5.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of 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% in the 2nd quarter. State Street Corp now owns 473,772 shares of the industrial products company's stock valued at $68,342,000 after acquiring an additional 25,251 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Lindsay by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 345,596 shares of the industrial products company's stock valued at $40,736,000 after acquiring an additional 8,567 shares in the last quarter. Amundi raised its stake in shares of Lindsay by 39.4% in the 4th quarter. Amundi now owns 269,817 shares of the industrial products company's stock valued at $31,843,000 after acquiring an additional 76,292 shares in the last quarter. Invesco Ltd. raised its stake in shares of Lindsay by 10.1% in the 4th quarter. Invesco Ltd. now owns 226,796 shares of the industrial products company's stock valued at $26,732,000 after acquiring an additional 20,811 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Lindsay by 2.8% in the 4th quarter. First Trust Advisors LP now owns 197,123 shares of the industrial products company's stock valued at $23,235,000 after acquiring an additional 5,303 shares in the last quarter. 89.94% of the stock is owned by institutional investors.

About Lindsay

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.

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