Several brokerages have updated their recommendations and price targets on shares of Lindsay Corporation (NYSE: LNN) in the last few weeks:

  • 8/5/2017 – Lindsay Corporation was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 8/5/2017 – Lindsay Corporation was given a new $80.00 price target on by analysts at Piper Jaffray Companies. They now have a “hold” rating on the stock.
  • 7/31/2017 – Lindsay Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $103.00 price target on the stock. According to Zacks, “Lindsay is poised to gain from its initiatives to strengthen market position, expansion of its solutions offering and improvement of the global cost structure. Further, stabilization in the U.S. irrigation equipment market, a consistent recovery in Brazil and increased project activity in developing international markets will fuel growth. Irrigation operating margin performance in the U.S. will likely benefit from the strength and growth of technology products. Thus, investments in product development and acquisitions remain tailwinds. The company has a positive record of earnings surprises in recent quarters. Moreover, the stock has outperformed the industry, over the past six months.”
  • 7/28/2017 – Lindsay Corporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Lindsay is poised to gain from expansion of its solutions offering and improvement of the global cost structure. Further, stabilization in the U.S. irrigation equipment market, a consistent recovery in Brazil and increased project activity in developing international markets will fuel growth. Irrigation operating margin performance in the U.S. will likely benefit from the strength and growth of technology products. Thus, investments in product development and acquisitions remain tailwinds. Moreover, the stock has outperformed the industry over the past six months. However, Lindsay’s results will be affected by reduced capital expenditure, lower infrastructure order backlog, challenging political and economic condition and currency headwinds.”
  • 7/12/2017 – Lindsay Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $101.00 price target on the stock. According to Zacks, “Lindsay is poised to gain from its initiatives to strengthen market position, expansion of its solutions offering and improvement of the global cost structure. Further, stabilization in the U.S. irrigation equipment market, a consistent recovery in Brazil and increased project activity in developing international markets will fuel growth. Irrigation operating margin performance in the U.S. will likely benefit from the strength and growth of technology products. Thus, investments in product development and acquisitions remain tailwinds. The company has a positive record of earnings surprises in recent quarters. Moreover, the stock has outperformed the Zacks categorized Machinery-Farm industry, over the past six months.”
  • 7/8/2017 – Lindsay Corporation was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 7/7/2017 – Lindsay Corporation had its “buy” rating reaffirmed by analysts at Sidoti. They now have a $107.00 price target on the stock, up previously from $100.00.
  • 7/4/2017 – Lindsay Corporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Lindsay is poised to gain from expansion of its solutions offering and improvement of the global cost structure. Further, stabilization in the U.S. irrigation equipment market, a consistent recovery in Brazil and increased project activity in developing international markets will fuel growth. Irrigation operating margin performance in the U.S. will likely benefit from the strength and growth of technology products. Thus, investments in product development and acquisitions remain tailwinds. Moreover, the stock has outperformed the Zacks categorized Machinery-Farm industry, year to date. However, Lindsay’s results will be affected by reduced capital expenditure, lower infrastructure order backlog, challenging political and economic condition and currency headwinds.”
  • 7/3/2017 – Lindsay Corporation had its price target raised by analysts at Piper Jaffray Companies from $77.00 to $80.00. They now have a “neutral” rating on the stock.
  • 6/29/2017 – Lindsay Corporation had its “hold” rating reaffirmed by analysts at Boenning Scattergood.

Lindsay Corporation (NYSE LNN) opened at 90.01 on Monday. The stock has a 50 day moving average price of $89.21 and a 200-day moving average price of $84.03. Lindsay Corporation has a one year low of $69.11 and a one year high of $95.04. The firm has a market cap of $962.12 million, a P/E ratio of 39.00 and a beta of 0.43.

Lindsay Corporation (NYSE:LNN) last released its quarterly earnings data on Thursday, June 29th. The industrial products company reported $1.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.07. Lindsay Corporation had a return on equity of 9.69% and a net margin of 4.75%. The business had revenue of $151.50 million for the quarter, compared to analysts’ expectations of $145.30 million. During the same quarter in the previous year, the business posted $0.90 EPS. Lindsay Corporation’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts predict that Lindsay Corporation will post $2.23 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Tuesday, August 15th. This is a boost from Lindsay Corporation’s previous quarterly dividend of $0.29. Lindsay Corporation’s payout ratio is 50.43%.

In other news, insider Rick Parod sold 77,387 shares of Lindsay Corporation stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $91.47, for a total transaction of $7,078,588.89. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider David B. Downing sold 7,000 shares of Lindsay Corporation stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $89.28, for a total value of $624,960.00. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.

Lindsay Corporation, along with its subsidiaries, provides a range of water management and road infrastructure products and services. The Company operates through two segments: Irrigation Segment and Infrastructure Segment. The Irrigation Segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, which are used primarily in the agricultural industry.

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