Lindsay Co. (LNN) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Lindsay Co. (NYSE:LNN) have received an average recommendation of “Hold” from the seven ratings firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $92.67.

Several research analysts have issued reports on LNN shares. TheStreet raised shares of Lindsay from a “c+” rating to a “b-” rating in a research report on Thursday, November 16th. Stifel Nicolaus lifted their target price on shares of Lindsay from $76.00 to $90.00 and gave the company a “hold” rating in a report on Friday, October 13th. Boenning Scattergood reaffirmed a “hold” rating on shares of Lindsay in a report on Thursday, October 12th. Finally, Zacks Investment Research downgraded shares of Lindsay from a “hold” rating to a “sell” rating in a report on Wednesday, December 13th.

Lindsay (NYSE LNN) opened at $91.58 on Tuesday. Lindsay has a 52-week low of $73.34 and a 52-week high of $96.22. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.24 and a current ratio of 3.29. The stock has a market cap of $981.87, a price-to-earnings ratio of 38.48, a price-to-earnings-growth ratio of 2.03 and a beta of 0.50.

Lindsay (NYSE:LNN) last issued its quarterly earnings data on Thursday, December 21st. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.06). Lindsay had a return on equity of 9.65% and a net margin of 4.79%. The business had revenue of $124.53 million for the quarter, compared to analysts’ expectations of $117.11 million. During the same period in the previous year, the business posted $0.08 earnings per share. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. equities analysts anticipate that Lindsay will post 3.05 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Tuesday, February 13th. Lindsay’s payout ratio is 50.42%.

In related news, Director Michael Nahl sold 7,200 shares of the business’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $86.43, for a total transaction of $622,296.00. Following the sale, the director now owns 3,687 shares of the company’s stock, valued at $318,667.41. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP David B. Downing sold 21,816 shares of the business’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $86.11, for a total transaction of $1,878,575.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,281 shares of company stock worth $4,763,339. Insiders own 1.20% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in LNN. Schwab Charles Investment Management Inc. boosted its holdings in Lindsay by 5.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 74,168 shares of the industrial products company’s stock worth $6,620,000 after buying an additional 3,970 shares in the last quarter. Legal & General Group Plc boosted its holdings in Lindsay by 9.3% during the second quarter. Legal & General Group Plc now owns 20,506 shares of the industrial products company’s stock worth $1,833,000 after buying an additional 1,738 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Lindsay by 5.4% during the second quarter. Principal Financial Group Inc. now owns 94,772 shares of the industrial products company’s stock worth $8,458,000 after buying an additional 4,830 shares in the last quarter. TIAA CREF Investment Management LLC boosted its holdings in Lindsay by 0.8% during the second quarter. TIAA CREF Investment Management LLC now owns 28,570 shares of the industrial products company’s stock worth $2,550,000 after buying an additional 238 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Lindsay by 0.5% during the second quarter. PNC Financial Services Group Inc. now owns 2,971 shares of the industrial products company’s stock worth $265,000 after buying an additional 14 shares in the last quarter. 93.99% of the stock is currently owned by hedge funds and other institutional investors.

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About Lindsay

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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