Lindsay (NYSE:LNN) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Lindsay (NYSE:LNN - Free Report) from a hold rating to a buy rating in a research report released on Friday morning.

Separately, Stifel Nicolaus raised their price objective on Lindsay from $130.00 to $134.00 and gave the stock a "hold" rating in a research report on Friday, April 4th.

Lindsay Price Performance

NYSE:LNN traded down $3.02 during trading hours on Friday, reaching $125.49. 2,721 shares of the company's stock were exchanged, compared to its average volume of 84,031. The company has a quick ratio of 2.65, a current ratio of 3.87 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $1.36 billion, a P/E ratio of 20.15 and a beta of 0.72. Lindsay has a 12 month low of $109.27 and a 12 month high of $140.26. The business's 50-day simple moving average is $129.10 and its two-hundred day simple moving average is $126.96.

Lindsay (NYSE:LNN - Get Free Report) last posted its quarterly earnings data on Thursday, April 3rd. The industrial products company reported $2.44 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.55. The company had revenue of $187.10 million during the quarter, compared to analyst estimates of $174.50 million. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The business's quarterly revenue was up 23.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.64 earnings per share. Sell-side analysts expect that Lindsay will post 5.82 EPS for the current fiscal year.

Lindsay Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, May 16th. This represents a $1.44 dividend on an annualized basis and a yield of 1.15%. Lindsay's payout ratio is 20.48%.

Institutional Investors Weigh In On Lindsay

Several institutional investors have recently made changes to their positions in LNN. AlphaQuest LLC acquired a new stake in Lindsay in the fourth quarter valued at approximately $32,000. GAMMA Investing LLC boosted its stake in shares of Lindsay by 90.3% during the 4th quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company's stock worth $33,000 after acquiring an additional 131 shares in the last quarter. Global Retirement Partners LLC grew its holdings in Lindsay by 10.3% during the fourth quarter. Global Retirement Partners LLC now owns 925 shares of the industrial products company's stock valued at $109,000 after purchasing an additional 86 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Lindsay by 73.1% during the fourth quarter. Van ECK Associates Corp now owns 1,475 shares of the industrial products company's stock valued at $175,000 after acquiring an additional 623 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in Lindsay by 729.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,709 shares of the industrial products company's stock valued at $202,000 after purchasing an additional 1,503 shares during the period. 89.94% of the stock is currently owned by institutional investors and hedge funds.

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.