Lindsay (NYSE:LNN) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Lindsay (NYSE:LNN) had its price objective upped by equities research analysts at Stifel Nicolaus from $126.00 to $130.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 5.98% from the stock’s previous close.

Separately, StockNews.com upgraded Lindsay from a “hold” rating to a “buy” rating in a research report on Tuesday.

Lindsay Price Performance

NYSE LNN opened at $122.66 on Wednesday. The company has a current ratio of 3.92, a quick ratio of 2.69 and a debt-to-equity ratio of 0.24. Lindsay has a 12 month low of $109.27 and a 12 month high of $135.20. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 20.38 and a beta of 0.66. The company’s 50 day moving average is $125.69 and its two-hundred day moving average is $121.88.

Lindsay (NYSE:LNN) last released its earnings results on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.18. The company had revenue of $166.30 million for the quarter, compared to analysts’ expectations of $169.78 million. Lindsay had a net margin of 10.91% and a return on equity of 12.86%. Lindsay’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.36 EPS. As a group, research analysts anticipate that Lindsay will post 5.64 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. US Bancorp DE boosted its stake in Lindsay by 45.9% during the third quarter. US Bancorp DE now owns 267 shares of the industrial products company’s stock valued at $33,000 after buying an additional 84 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Lindsay by 90.3% during the 4th quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 131 shares during the last quarter. CWM LLC grew its holdings in shares of Lindsay by 16.8% in the third quarter. CWM LLC now owns 638 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 92 shares in the last quarter. Intech Investment Management LLC bought a new stake in Lindsay in the second quarter worth $241,000. Finally, Point72 Asset Management L.P. raised its stake in Lindsay by 1,283.5% during the second quarter. Point72 Asset Management L.P. now owns 2,767 shares of the industrial products company’s stock valued at $340,000 after purchasing an additional 2,567 shares in the last quarter. Hedge funds and other institutional investors own 89.94% of the company’s stock.

About Lindsay

Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. It operates in two segments, Irrigation and Infrastructure. The Irrigation segment manufactures and markets center pivot, lateral move irrigation systems, and irrigation controls under the Zimmatic brand; hose reel travelers under the Perrot brand; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems.