Lindsay (NYSE:LNN) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Stock analysts at Wall Street Zen have downgraded Lindsay (NYSE:LNN) from a "buy" rating to a "hold" rating, reflecting a cautious outlook on the company's performance.
• Lindsay reported a quarterly earnings miss with an EPS of $0.99, falling short of the consensus estimate of $1.04, and its revenue decreased by 0.9% year-over-year.
• Insider selling was observed as Director Robert E. Brunner sold 1,856 shares, resulting in a 36.18% decrease in his position, which could indicate potential concerns regarding the stock's future performance.

Lindsay (NYSE:LNN - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

LNN has been the topic of several other reports. Stifel Nicolaus set a $122.00 price objective on shares of Lindsay in a research report on Friday. Weiss Ratings reissued a "hold (c+)" rating on shares of Lindsay in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Lindsay currently has a consensus rating of "Hold" and a consensus price target of $122.00.

Lindsay Stock Performance

Lindsay stock opened at $116.23 on Friday. Lindsay has a 1-year low of $109.87 and a 1-year high of $150.96. The company has a current ratio of 3.71, a quick ratio of 2.64 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $1.26 billion, a PE ratio of 17.14 and a beta of 0.82. The firm's 50 day simple moving average is $136.91 and its 200 day simple moving average is $136.24.

Lindsay (NYSE:LNN - Get Free Report) last announced its quarterly earnings results on Thursday, October 23rd. The industrial products company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.05). Lindsay had a net margin of 10.95% and a return on equity of 14.33%. The firm had revenue of $153.56 million during the quarter, compared to the consensus estimate of $156.91 million. During the same period in the previous year, the business earned $1.17 earnings per share. The firm's revenue for the quarter was down .9% on a year-over-year basis. As a group, analysts expect that Lindsay will post 5.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Lindsay

In related news, Director Robert E. Brunner sold 1,856 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $142.08, for a total transaction of $263,700.48. Following the transaction, the director directly owned 3,274 shares in the company, valued at $465,169.92. This trade represents a 36.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.70% of the company's stock.

Hedge Funds Weigh In On Lindsay

A number of hedge funds have recently modified their holdings of the company. New York State Teachers Retirement System increased its holdings in Lindsay by 5.8% during the 3rd quarter. New York State Teachers Retirement System now owns 17,162 shares of the industrial products company's stock valued at $2,412,000 after purchasing an additional 945 shares during the period. Cardinal Capital Management increased its stake in shares of Lindsay by 2.5% during the third quarter. Cardinal Capital Management now owns 17,002 shares of the industrial products company's stock valued at $2,390,000 after buying an additional 421 shares during the period. SG Americas Securities LLC increased its stake in shares of Lindsay by 505.3% during the third quarter. SG Americas Securities LLC now owns 16,518 shares of the industrial products company's stock valued at $2,322,000 after buying an additional 13,789 shares during the period. KLP Kapitalforvaltning AS raised its holdings in shares of Lindsay by 126.9% during the third quarter. KLP Kapitalforvaltning AS now owns 5,900 shares of the industrial products company's stock valued at $829,000 after acquiring an additional 3,300 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in Lindsay in the third quarter worth $348,000. Hedge funds and other institutional investors own 89.94% 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.

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