Northcoast Research upgraded shares of Lindsay (NYSE:LNN - Free Report) from a neutral rating to a buy rating in a research report sent to investors on Friday, Marketbeat.com reports. The brokerage currently has $142.00 price target on the industrial products company's stock.
Several other equities analysts also recently commented on LNN. StockNews.com upgraded Lindsay from a hold rating to a buy rating in a research note on Thursday. Stifel Nicolaus dropped their price objective on Lindsay from $129.00 to $123.00 and set a hold rating on the stock in a research note on Tuesday, December 19th. Finally, TheStreet downgraded Lindsay from a b- rating to a c+ rating in a research note on Tuesday, March 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $138.33.
View Our Latest Stock Report on LNN
Lindsay Stock Performance
Shares of LNN stock traded up $1.59 during trading on Friday, hitting $116.08. The company's stock had a trading volume of 130,069 shares, compared to its average volume of 86,275. Lindsay has a 52 week low of $106.46 and a 52 week high of $137.31. The company has a current ratio of 3.53, a quick ratio of 2.37 and a debt-to-equity ratio of 0.25. The business has a fifty day moving average of $121.06 and a 200-day moving average of $122.83. The company has a market cap of $1.28 billion, a PE ratio of 18.54 and a beta of 0.61.
Lindsay (NYSE:LNN - Get Free Report) last posted its quarterly earnings data on Thursday, April 4th. The industrial products company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.52 by $0.12. Lindsay had a return on equity of 15.53% and a net margin of 10.49%. The business had revenue of $151.50 million for the quarter, compared to the consensus estimate of $172.06 million. During the same quarter in the prior year, the business earned $1.63 earnings per share. Lindsay's revenue for the quarter was down 8.8% on a year-over-year basis. As a group, research analysts anticipate that Lindsay will post 5.71 earnings per share for the current year.
Lindsay Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.21%. Lindsay's dividend payout ratio is currently 22.36%.
Institutional Investors Weigh In On Lindsay
Several institutional investors have recently made changes to their positions in LNN. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Lindsay during the fourth quarter worth $28,000. Quest Partners LLC bought a new position in shares of Lindsay in the fourth quarter worth $51,000. CWM LLC increased its holdings in shares of Lindsay by 129.6% in the fourth quarter. CWM LLC now owns 489 shares of the industrial products company's stock worth $63,000 after purchasing an additional 276 shares during the period. Royal Bank of Canada increased its holdings in shares of Lindsay by 23.6% in the third quarter. Royal Bank of Canada now owns 514 shares of the industrial products company's stock worth $74,000 after purchasing an additional 98 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Lindsay by 195.3% in the second quarter. Tower Research Capital LLC TRC now owns 942 shares of the industrial products company's stock worth $112,000 after purchasing an additional 623 shares during the period. Hedge funds and other institutional investors own 89.94% of the company's stock.
About Lindsay
(
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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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