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

Lindsay (NYSE:LNN) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

A number of other analysts also recently commented on LNN. Stifel Nicolaus dropped their price objective on Lindsay from $129.00 to $123.00 and set a “hold” rating on the stock in a research note on Tuesday, December 19th. TheStreet downgraded Lindsay from a “b-” rating to a “c+” rating in a research note on Tuesday, March 5th. Finally, Northcoast Research raised Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 target price on the stock in a research report on Friday, April 5th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Lindsay presently has an average rating of “Moderate Buy” and an average price target of $138.33.

Lindsay Stock Performance

Shares of LNN stock opened at $115.10 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.58 and a current ratio of 3.87. Lindsay has a 1 year low of $106.46 and a 1 year high of $137.31. The stock has a fifty day moving average of $119.83 and a two-hundred day moving average of $122.90. The firm has a market capitalization of $1.27 billion, a PE ratio of 18.36 and a beta of 0.61.

Lindsay (NYSE:LNN) last posted its quarterly earnings data on Thursday, April 4th. The industrial products company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.12. Lindsay had a return on equity of 15.04% and a net margin of 10.74%. The company had revenue of $151.50 million for the quarter, compared to the consensus estimate of $172.06 million. During the same quarter in the previous year, the business earned $1.63 EPS. The company’s quarterly revenue was down 8.8% compared to the same quarter last year. As a group, research analysts expect that Lindsay will post 5.46 EPS for the current year.

Institutional Investors Weigh In On Lindsay

A number of institutional investors and hedge funds have recently modified their holdings of LNN. BlackRock Inc. raised its position in Lindsay by 3.6% during the first quarter. BlackRock Inc. now owns 2,048,459 shares of the industrial products company’s stock valued at $309,584,000 after buying an additional 72,056 shares during the period. Vanguard Group Inc. raised its position in Lindsay by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 1,279,819 shares of the industrial products company’s stock valued at $165,301,000 after buying an additional 17,261 shares during the period. State Street Corp raised its position in Lindsay by 11.2% during the second quarter. State Street Corp now owns 416,378 shares of the industrial products company’s stock valued at $55,303,000 after buying an additional 41,870 shares during the period. Nuance Investments LLC raised its position in Lindsay by 19.2% during the third quarter. Nuance Investments LLC now owns 350,675 shares of the industrial products company’s stock valued at $41,267,000 after buying an additional 56,526 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Lindsay by 5.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 312,084 shares of the industrial products company’s stock valued at $40,310,000 after buying an additional 14,738 shares during the period. 89.94% of the stock is owned by institutional investors and hedge funds.

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.