Stifel Nicolaus Boosts Lindsay Corp. (LNN) Price Target to $69.00
Lindsay Corp. (NYSE:LNN) had its target price lifted by equities research analysts at Stifel Nicolaus from $64.00 to $69.00 in a research note issued to investors on Friday. The brokerage presently has a “sell” rating on the stock. Stifel Nicolaus’ price objective points to a potential downside of 10.31% from the stock’s previous close.
A number of other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Lindsay Corp. from a “hold” rating to a “strong sell” rating in a report on Thursday, September 8th. TheStreet raised shares of Lindsay Corp. from a “hold” rating to a “buy” rating in a report on Friday, July 1st. Three research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $72.29.
Lindsay Corp. (NYSE:LNN) opened at 76.93 on Friday. The stock has a 50 day moving average price of $72.26 and a 200-day moving average price of $71.26. Lindsay Corp. has a one year low of $62.99 and a one year high of $80.28. The stock has a market capitalization of $817.77 million, a P/E ratio of 92.46 and a beta of 0.82.
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Lindsay Corp. (NYSE:LNN) last issued its quarterly earnings results on Thursday, October 13th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.30. Lindsay Corp. had a net margin of 1.83% and a return on equity of 9.74%. The firm earned $132.90 million during the quarter, compared to the consensus estimate of $113.38 million. During the same period in the prior year, the firm earned $0.42 EPS. The business’s revenue was up 7.6% on a year-over-year basis. Analysts anticipate that Lindsay Corp. will post $1.76 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Wednesday, November 16th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Monday, November 14th. Lindsay Corp.’s payout ratio is presently 133.33%.
Large investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas boosted its stake in shares of Lindsay Corp. by 13.3% in the second quarter. Teacher Retirement System of Texas now owns 1,584 shares of the company’s stock valued at $107,000 after buying an additional 186 shares in the last quarter. Mason Street Advisors LLC acquired a new position in Lindsay Corp. during the second quarter worth $143,000. Legal & General Group Plc boosted its position in Lindsay Corp. by 3.0% in the second quarter. Legal & General Group Plc now owns 2,911 shares of the company’s stock worth $205,000 after buying an additional 84 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Lindsay Corp. during the second quarter worth $202,000. Finally, Trexquant Investment LP acquired a new position in Lindsay Corp. during the second quarter worth $210,000.
Lindsay Corp. Company Profile
Lindsay Corporation provides a range of water management and road infrastructure products and services. The Company operates through two segments: Irrigation Segment and Infrastructure Segment. Its Irrigation Segment includes the manufacture and marketing of center pivot, lateral move and hose reel irrigation systems, which are used principally in the agricultural industry.
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