Lindsay (NYSE:LNN) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Lindsay Corporation (NYSE:LNN)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $119.23 and traded as high as $119.27. Lindsay shares last traded at $116.4310, with a volume of 226,503 shares traded.

Analyst Ratings Changes

LNN has been the topic of a number of research reports. Weiss Ratings downgraded Lindsay from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 21st. Stifel Nicolaus cut their price objective on Lindsay from $128.00 to $113.00 and set a “hold” rating on the stock in a report on Monday, April 6th. Finally, Zacks Research upgraded Lindsay from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $113.00.

Lindsay Price Performance

The company has a market cap of $1.21 billion, a PE ratio of 21.32 and a beta of 0.72. The business’s 50 day moving average price is $110.54 and its 200-day moving average price is $119.23. The company has a quick ratio of 2.15, a current ratio of 3.02 and a debt-to-equity ratio of 0.23.

Lindsay (NYSE:LNN) last posted its quarterly earnings data on Thursday, April 2nd. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.45). Lindsay had a return on equity of 11.28% and a net margin of 9.25%.The business had revenue of $157.72 million for the quarter, compared to analysts’ expectations of $163.52 million. During the same quarter in the prior year, the firm earned $2.44 earnings per share. Lindsay’s revenue for the quarter was down 15.7% compared to the same quarter last year. As a group, analysts forecast that Lindsay Corporation will post 5.16 earnings per share for the current year.

Lindsay Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a dividend of $0.37 per share. The ex-dividend date was Friday, May 15th. This represents a $1.48 dividend on an annualized basis and a yield of 1.3%. Lindsay’s payout ratio is currently 27.11%.

Hedge Funds Weigh In On Lindsay

Hedge funds have recently made changes to their positions in the business. Nuance Investments LLC boosted its position in shares of Lindsay by 293.5% in the 4th quarter. Nuance Investments LLC now owns 178,571 shares of the industrial products company’s stock valued at $21,048,000 after purchasing an additional 133,190 shares during the period. Wellington Management Group LLP acquired a new position in shares of Lindsay in the fourth quarter worth $13,994,000. Amundi raised its stake in shares of Lindsay by 39.4% during the 4th quarter. Amundi now owns 269,817 shares of the industrial products company’s stock worth $31,843,000 after purchasing an additional 76,292 shares in the last quarter. Invesco Ltd. raised its position in Lindsay by 32.6% during the third quarter. Invesco Ltd. now owns 205,985 shares of the industrial products company’s stock valued at $28,953,000 after acquiring an additional 50,671 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in Lindsay in the second quarter worth approximately $6,670,000. Institutional investors and hedge funds own 89.94% of the company’s stock.

About Lindsay

Lindsay Corporation (NYSE: LNN) is a U.S.-based manufacturer of agricultural irrigation and infrastructure products. Headquartered in Omaha, Nebraska, the company has built a reputation for designing and producing center pivot and lateral‐move irrigation systems under the Zimmatic brand. These systems feature advanced controls, precision sprinklers and automated monitoring technology that help growers optimize water use, improve crop yields and enhance sustainability in a variety of row-crop, specialty crop and forage operations.

Beyond its core irrigation business, Lindsay operates an infrastructure segment that delivers engineered products and services for water and roadway management.