Lindsay (NYSE:LNN) Lowered to Hold Rating by StockNews.com

StockNews.com lowered shares of Lindsay (NYSE:LNN) from a buy rating to a hold rating in a research report released on Monday morning.

Separately, Stifel Nicolaus increased their price target on Lindsay from $126.00 to $130.00 and gave the stock a “hold” rating in a research report on Wednesday, January 8th.

Lindsay Stock Performance

NYSE:LNN opened at $132.75 on Monday. The stock’s fifty day moving average is $128.12 and its 200 day moving average is $124.53. Lindsay has a fifty-two week low of $109.27 and a fifty-two week high of $140.26. The firm has a market capitalization of $1.44 billion, a PE ratio of 21.31 and a beta of 0.67. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.65 and a current ratio of 3.87.

Lindsay (NYSE:LNN) last announced its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.39 by $0.18. The company had revenue of $166.30 million for the quarter, compared to the consensus estimate of $169.78 million. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. Lindsay’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.36 EPS. On average, sell-side analysts anticipate that Lindsay will post 5.82 earnings per share for the current year.

Lindsay Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Friday, February 14th. Lindsay’s payout ratio is currently 23.11%.

Institutional Investors Weigh In On Lindsay

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AlphaQuest LLC purchased a new stake in Lindsay in the fourth quarter valued at about $32,000. US Bancorp DE lifted its holdings in Lindsay by 45.9% in the third quarter. US Bancorp DE now owns 267 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 84 shares during the period. GAMMA Investing LLC lifted its holdings in Lindsay by 90.3% in the fourth 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 period. CWM LLC lifted its holdings in 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 acquiring an additional 92 shares during the period. Finally, Global Retirement Partners LLC increased its position in shares of Lindsay by 10.3% in the fourth quarter. Global Retirement Partners LLC now owns 925 shares of the industrial products company’s stock valued at $109,000 after buying an additional 86 shares in the last quarter. 89.94% of the stock is currently owned by hedge funds and other institutional investors.

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.