TheStreet downgraded shares of Lindsay (NYSE:LNN) from a b- rating to a c rating in a research report sent to investors on Tuesday, January 9th.
Other equities analysts have also issued research reports about the stock. Boenning Scattergood restated a hold rating on shares of Lindsay in a research report on Thursday, October 12th. Stifel Nicolaus restated a hold rating and set a $91.00 price target on shares of Lindsay in a research report on Thursday, December 14th. Finally, Zacks Investment Research downgraded shares of Lindsay from a hold rating to a sell rating in a report on Wednesday, December 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $95.25.
Lindsay (NYSE:LNN) traded down $2.74 during midday trading on Tuesday, hitting $87.80. 81,751 shares of the stock traded hands, compared to its average volume of 81,959. Lindsay has a 12-month low of $73.34 and a 12-month 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 company has a market cap of $956.46 and a price-to-earnings ratio of 36.89.
Lindsay (NYSE:LNN) last posted its earnings results 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). The firm had revenue of $124.53 million during the quarter, compared to the consensus estimate of $117.11 million. Lindsay had a return on equity of 9.65% and a net margin of 4.79%. The business’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.08 EPS. equities analysts forecast that Lindsay will post 3.05 EPS for the current fiscal year.
The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Tuesday, February 13th. Lindsay’s payout ratio is 50.42%.
In related news, insider David B. Downing sold 26,265 shares of the company’s 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael Nahl sold 7,200 shares of the company’s 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 completion of the transaction, the director now owns 3,687 shares in the company, valued at $318,667.41. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,281 shares of company stock worth $4,763,339. Insiders own 3.10% of the company’s stock.
Several hedge funds have recently bought and sold shares of LNN. Flinton Capital Management LLC increased its position in shares of Lindsay by 72.7% in the second quarter. Flinton Capital Management LLC now owns 1,292 shares of the industrial products company’s stock worth $115,000 after purchasing an additional 544 shares during the last quarter. Acrospire Investment Management LLC increased its position in shares of Lindsay by 467.1% in the second quarter. Acrospire Investment Management LLC now owns 1,429 shares of the industrial products company’s stock worth $128,000 after purchasing an additional 1,177 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Lindsay by 27.2% in the second quarter. Van ECK Associates Corp now owns 1,692 shares of the industrial products company’s stock worth $151,000 after purchasing an additional 362 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in shares of Lindsay in the second quarter worth approximately $205,000. Finally, OxFORD Asset Management LLP bought a new position in shares of Lindsay in the second quarter worth approximately $219,000. Institutional investors own 94.02% 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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