Lindsay (NYSE:LNN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

According to Zacks, “Lindsay’s results will be affected by lower infrastructure spending, challenging political and economic condition and currency headwinds. Additionally, international results are heavily dependent upon project sales which tend to fluctuate and can be difficult to forecast accurately. Notably, its Road Zipper System projects will be impacted by lack of any significant increase in spending for surface transportation projects under the current Federal Highway Bill, the FAST Act. Moreover, the stock has underperformed the industry over the past year.”

A number of other equities analysts have also recently issued reports on the company. TheStreet raised Lindsay from a “c+” rating to a “b-” rating in a report on Thursday, November 16th. Boenning Scattergood reissued a “hold” rating on shares of Lindsay in a report on Thursday, October 12th. Stifel Nicolaus increased their target price on Lindsay from $76.00 to $90.00 and gave the stock a “hold” rating in a report on Friday, October 13th. Piper Jaffray Companies restated a “hold” rating and set a $80.00 price target on shares of Lindsay in a research report on Sunday, September 10th. Finally, BidaskClub lowered Lindsay from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Lindsay currently has an average rating of “Hold” and an average price target of $95.00.

Shares of Lindsay (NYSE LNN) traded down $1.37 on Wednesday, hitting $90.24. The stock had a trading volume of 51,200 shares, compared to its average volume of 81,497. Lindsay has a fifty-two week low of $72.85 and a fifty-two week high of $96.22. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.25 and a current ratio of 3.18. The firm has a market cap of $979.96, a PE ratio of 42.41, a PEG ratio of 2.08 and a beta of 0.50.

Lindsay (NYSE:LNN) last issued its earnings results on Thursday, October 12th. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.18. Lindsay had a return on equity of 8.95% and a net margin of 4.47%. The business had revenue of $131.94 million during the quarter, compared to analysts’ expectations of $134.83 million. analysts anticipate that Lindsay will post 2.94 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Flinton Capital Management LLC boosted its position in Lindsay by 72.7% in the 2nd quarter. Flinton Capital Management LLC now owns 1,292 shares of the industrial products company’s stock valued at $115,000 after buying an additional 544 shares during the last quarter. Acrospire Investment Management LLC boosted its position in Lindsay by 467.1% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,429 shares of the industrial products company’s stock valued at $128,000 after buying an additional 1,177 shares during the last quarter. Van ECK Associates Corp boosted its position in Lindsay by 27.2% in the 2nd quarter. Van ECK Associates Corp now owns 1,692 shares of the industrial products company’s stock valued at $151,000 after buying an additional 362 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in Lindsay in the 2nd quarter valued at $205,000. Finally, OxFORD Asset Management LLP bought a new position in Lindsay in the 2nd quarter valued at $219,000. Institutional investors and hedge funds own 94.31% of the company’s stock.

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Lindsay 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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