TheStreet cut shares of Lindsay (NYSE:LNN) from a b- rating to a c rating in a research note issued to investors on Tuesday, January 9th.
Other equities research analysts have also recently issued research reports about the company. Stifel Nicolaus raised their target price on Lindsay from $76.00 to $90.00 and gave the stock a hold rating in a research note on Friday, October 13th. Boenning Scattergood reaffirmed a hold rating on shares of Lindsay in a research note on Thursday, October 12th. Finally, Zacks Investment Research cut Lindsay from a hold rating to a sell rating in a research note on Wednesday, December 13th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $95.25.
Lindsay (NYSE LNN) traded down $0.32 during trading on Tuesday, reaching $92.09. The company’s stock had a trading volume of 73,500 shares, compared to its average volume of 98,773. The company has a quick ratio of 2.24, a current ratio of 3.29 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $990.77, a P/E ratio of 38.69, a PEG ratio of 2.02 and a beta of 0.50. Lindsay has a 1 year low of $73.34 and a 1 year high of $96.22.
Lindsay (NYSE:LNN) last posted its earnings results on Thursday, December 21st. The industrial products company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.06). Lindsay had a net margin of 4.79% and a return on equity of 9.65%. The firm had revenue of $124.53 million during the quarter, compared to the consensus estimate of $117.11 million. During the same quarter in the prior year, the business posted $0.08 earnings per share. Lindsay’s revenue for the quarter was up 12.8% compared to the same quarter last year. equities research analysts forecast that Lindsay will post 3.05 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.30%. Lindsay’s dividend payout ratio (DPR) is presently 50.42%.
In related news, Director Michael Nahl sold 7,200 shares of Lindsay stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $86.43, for a total transaction of $622,296.00. Following the transaction, the director now owns 3,687 shares of the company’s stock, valued at $318,667.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David B. Downing sold 26,265 shares of Lindsay stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $86.14, for a total value of $2,262,467.10. The disclosure for this sale can be found here. Insiders sold 55,281 shares of company stock valued at $4,763,339 in the last three months. Insiders own 3.10% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. lifted its holdings in Lindsay by 4.8% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 83,139 shares of the industrial products company’s stock worth $7,333,000 after acquiring an additional 3,787 shares during the period. California Public Employees Retirement System lifted its holdings in Lindsay by 5.3% during the third quarter. California Public Employees Retirement System now owns 28,438 shares of the industrial products company’s stock worth $2,613,000 after acquiring an additional 1,438 shares during the period. Magnetar Financial LLC bought a new stake in Lindsay during the third quarter worth $626,000. Royce & Associates LP lifted its holdings in Lindsay by 0.7% during the third quarter. Royce & Associates LP now owns 970,117 shares of the industrial products company’s stock worth $89,154,000 after acquiring an additional 6,593 shares during the period. Finally, OxFORD Asset Management LLP lifted its holdings in Lindsay by 659.5% during the third quarter. OxFORD Asset Management LLP now owns 18,645 shares of the industrial products company’s stock worth $1,711,000 after acquiring an additional 16,190 shares during the period. Institutional investors and hedge funds own 93.97% 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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