Lindsay (NYSE:LNN) was downgraded by analysts at TheStreet from a “b-” rating to a “c” rating in a report released on Tuesday.
A number of other equities analysts have also recently commented on the stock. Stifel Nicolaus reaffirmed a “hold” rating and issued a $91.00 target price on shares of Lindsay in a report on Thursday, December 14th. Zacks Investment Research cut shares of Lindsay from a “hold” rating to a “sell” rating in a report on Wednesday, December 13th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Lindsay in a report on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $95.25.
Shares of Lindsay (NYSE:LNN) opened at $89.17 on Tuesday. The company has a current ratio of 3.29, a quick ratio of 2.24 and a debt-to-equity ratio of 0.43. Lindsay has a 1-year low of $73.34 and a 1-year high of $96.22. The firm has a market cap of $956.03, a P/E ratio of 37.47, a price-to-earnings-growth ratio of 1.94 and a beta of 0.50.
Lindsay (NYSE:LNN) last released its quarterly earnings data on Thursday, December 21st. The industrial products company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.06). The company had revenue of $124.53 million for the quarter, compared to analyst estimates of $117.11 million. Lindsay had a return on equity of 9.65% and a net margin of 4.79%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.08 EPS. sell-side analysts expect that Lindsay will post 3.05 EPS for the current year.
In other news, EVP David B. Downing sold 21,816 shares of Lindsay stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $86.11, for a total value of $1,878,575.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael Nahl sold 7,200 shares of Lindsay stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $86.43, for a total transaction of $622,296.00. Following the completion of the transaction, the director now directly owns 3,687 shares in the company, valued at $318,667.41. The disclosure for this sale can be found here. Insiders sold a total of 55,281 shares of company stock worth $4,763,339 over the last ninety days. Corporate insiders own 1.20% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. grew its position in Lindsay by 0.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,971 shares of the industrial products company’s stock valued at $265,000 after buying an additional 14 shares during the last quarter. CS Mckee LP grew its position in Lindsay by 0.6% in the 2nd quarter. CS Mckee LP now owns 17,850 shares of the industrial products company’s stock valued at $1,593,000 after buying an additional 100 shares during the last quarter. TIAA CREF Investment Management LLC grew its position in Lindsay by 0.8% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 28,570 shares of the industrial products company’s stock valued at $2,550,000 after buying an additional 238 shares during the last quarter. Van ECK Associates Corp grew 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. Finally, GSA Capital Partners LLP grew its position in Lindsay by 6.7% in the 2nd quarter. GSA Capital Partners LLP now owns 7,895 shares of the industrial products company’s stock valued at $705,000 after buying an additional 495 shares during the last quarter. Hedge funds and other institutional investors own 93.97% of the company’s stock.
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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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