Lindsay Corporation (NYSE:LNN)‘s stock had its “hold” rating reissued by equities research analysts at Piper Jaffray Companies in a research report issued to clients and investors on Sunday. They currently have a $80.00 price target on the industrial products company’s stock. Piper Jaffray Companies’ target price would suggest a potential downside of 7.10% from the company’s previous close.

LNN has been the subject of a number of other research reports. Zacks Investment Research cut shares of Lindsay Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Boenning Scattergood reissued a “hold” rating on shares of Lindsay Corporation in a research note on Thursday, June 29th. Stifel Nicolaus set a $76.00 target price on shares of Lindsay Corporation and gave the stock a “hold” rating in a research note on Friday, August 18th. BidaskClub cut shares of Lindsay Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 26th. Finally, Sidoti reissued a “buy” rating and set a $107.00 target price (up previously from $100.00) on shares of Lindsay Corporation in a research note on Friday, July 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Lindsay Corporation presently has an average rating of “Hold” and an average price target of $91.50.

Lindsay Corporation (LNN) opened at 86.11 on Friday. The company has a market cap of $920.43 million, a P/E ratio of 37.31 and a beta of 0.46. Lindsay Corporation has a 12-month low of $69.11 and a 12-month high of $95.04. The firm’s 50 day moving average is $88.14 and its 200 day moving average is $85.98.

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

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In related news, insider Rick Parod sold 77,387 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $91.47, for a total transaction of $7,078,588.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider David B. Downing sold 7,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $89.28, for a total transaction of $624,960.00. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in LNN. BlackRock Inc. grew its stake in Lindsay Corporation by 7,401.9% during the 1st quarter. BlackRock Inc. now owns 1,325,961 shares of the industrial products company’s stock valued at $116,844,000 after acquiring an additional 1,308,286 shares in the last quarter. Parametric Portfolio Associates LLC grew its stake in Lindsay Corporation by 367.3% during the 1st quarter. Parametric Portfolio Associates LLC now owns 77,620 shares of the industrial products company’s stock valued at $6,840,000 after acquiring an additional 61,011 shares in the last quarter. Vanguard Group Inc. grew its stake in Lindsay Corporation by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 992,657 shares of the industrial products company’s stock valued at $87,472,000 after acquiring an additional 51,592 shares in the last quarter. King Luther Capital Management Corp grew its stake in Lindsay Corporation by 28.6% during the 1st quarter. King Luther Capital Management Corp now owns 107,260 shares of the industrial products company’s stock valued at $9,452,000 after acquiring an additional 23,870 shares in the last quarter. Finally, State Street Corp grew its stake in Lindsay Corporation by 8.3% during the 1st quarter. State Street Corp now owns 260,185 shares of the industrial products company’s stock valued at $22,929,000 after acquiring an additional 19,885 shares in the last quarter. 97.44% of the stock is owned by institutional investors.

Lindsay Corporation Company Profile

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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