Lindsay Co. (LNN) Receives $92.67 Average PT from Analysts

Lindsay Co. (NYSE:LNN) has received an average rating of “Hold” from the seven brokerages that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $92.67.

Several research firms have issued reports on LNN. TheStreet raised shares of Lindsay from a “c+” rating to a “b-” rating in a research note on Thursday, November 16th. Stifel Nicolaus reaffirmed a “hold” rating and set a $91.00 price target on shares of Lindsay in a research note on Thursday, December 14th. Finally, Zacks Investment Research cut shares of Lindsay from a “hold” rating to a “sell” rating in a research note on Wednesday, December 13th.

In other news, Director Bill Welsh sold 800 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $90.20, for a total transaction of $72,160.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael Nahl sold 7,200 shares of the firm’s stock in a transaction that occurred 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 owns 3,687 shares in the company, valued at approximately $318,667.41. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,281 shares of company stock worth $5,033,499. Insiders own 3.10% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Elkfork Partners LLC purchased a new position in Lindsay in the fourth quarter valued at approximately $136,000. Piedmont Investment Advisors LLC purchased a new position in Lindsay in the second quarter valued at approximately $205,000. OxFORD Asset Management LLP purchased a new position in Lindsay in the second quarter valued at approximately $219,000. Crossmark Global Holdings Inc. purchased a new position in Lindsay in the third quarter valued at approximately $224,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Lindsay in the third quarter valued at approximately $246,000. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Lindsay (NYSE:LNN) traded down $0.25 during trading on Friday, hitting $91.27. 126,588 shares of the company’s stock traded hands, compared to its average volume of 97,044. Lindsay has a one year low of $78.50 and a one year high of $96.22. The firm has a market cap of $978.54, a PE ratio of 38.35, a P/E/G ratio of 1.98 and a beta of 0.36. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.29 and a quick ratio of 2.24.

Lindsay (NYSE:LNN) last released its quarterly 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). Lindsay had a return on equity of 9.65% and a net margin of 4.79%. The firm had revenue of $124.53 million for the quarter, compared to analyst estimates of $117.11 million. During the same period in the prior year, the business earned $0.08 earnings per share. Lindsay’s revenue for the quarter was up 12.8% on a year-over-year basis. equities research analysts predict that Lindsay will post 3.09 earnings per share for the current fiscal year.

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

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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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