Brokerages Set Lindsay Co. (NYSE:LNN) PT at $138.33

Shares of Lindsay Co. (NYSE:LNN - Get Free Report) have received a consensus rating of "Moderate Buy" from the four research firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $138.33.

A number of equities analysts have issued reports on the stock. StockNews.com lowered shares of Lindsay from a "buy" rating to a "hold" rating in a research report on Friday, April 12th. Northcoast Research raised shares of Lindsay from a "neutral" rating to a "buy" rating and set a $142.00 price objective on the stock in a research note on Friday, April 5th. Finally, TheStreet cut shares of Lindsay from a "b-" rating to a "c+" rating in a research note on Tuesday, March 5th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LNN. Pacer Advisors Inc. purchased a new position in Lindsay in the 4th quarter valued at $24,285,000. American Century Companies Inc. lifted its holdings in Lindsay by 3,922.9% in the 3rd quarter. American Century Companies Inc. now owns 190,726 shares of the industrial products company's stock valued at $22,445,000 after purchasing an additional 185,985 shares in the last quarter. Robeco Schweiz AG purchased a new position in shares of Lindsay during the 3rd quarter worth $15,851,000. Norges Bank purchased a new position in shares of Lindsay during the 4th quarter worth $10,751,000. Finally, Nuance Investments LLC raised its holdings in shares of Lindsay by 19.2% during the 3rd quarter. Nuance Investments LLC now owns 350,675 shares of the industrial products company's stock worth $41,267,000 after acquiring an additional 56,526 shares during the period. Hedge funds and other institutional investors own 89.94% of the company's stock.

Lindsay Stock Performance

Shares of Lindsay stock traded up $0.97 during midday trading on Thursday, hitting $117.34. The company had a trading volume of 71,360 shares, compared to its average volume of 88,020. Lindsay has a 12-month low of $106.46 and a 12-month high of $137.31. The company has a quick ratio of 2.58, a current ratio of 3.87 and a debt-to-equity ratio of 0.24. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 18.71 and a beta of 0.61. The company has a fifty day simple moving average of $117.32 and a 200 day simple moving average of $122.91.

Lindsay (NYSE:LNN - Get Free Report) last posted its quarterly earnings results on Thursday, April 4th. The industrial products company reported $1.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.52 by $0.12. Lindsay had a net margin of 10.74% and a return on equity of 15.04%. The company had revenue of $151.50 million during the quarter, compared to analyst estimates of $172.06 million. During the same period last year, the firm posted $1.63 EPS. Lindsay's revenue for the quarter was down 8.8% compared to the same quarter last year. As a group, analysts predict that Lindsay will post 5.3 earnings per share for the current fiscal year.

Lindsay Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.40 dividend on an annualized basis and a yield of 1.19%. Lindsay's payout ratio is currently 22.33%.

Lindsay Company Profile

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.