Lindsay Co. (NYSE:LNN) Receives Consensus Rating of “Moderate Buy” from Analysts

Lindsay Co. (NYSE:LNNGet Free Report) has earned a consensus rating of “Moderate Buy” from the four ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $138.33.

LNN has been the subject of a number of recent research reports. Northcoast Research upgraded Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 price objective for the company in a research report on Friday, April 5th. StockNews.com downgraded Lindsay from a “buy” rating to a “hold” rating in a report on Friday, April 12th.

View Our Latest Stock Analysis on LNN

Institutional Trading of Lindsay

Hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its position in shares of Lindsay by 7.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,459 shares of the industrial products company’s stock worth $643,000 after purchasing an additional 401 shares in the last quarter. Rodgers Brothers Inc. lifted its position in Lindsay by 0.4% in the 1st quarter. Rodgers Brothers Inc. now owns 49,760 shares of the industrial products company’s stock worth $5,855,000 after buying an additional 200 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Lindsay during the 1st quarter valued at $145,000. UniSuper Management Pty Ltd purchased a new position in shares of Lindsay during the 1st quarter valued at $297,000. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of Lindsay in the first quarter worth $482,000. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Lindsay Trading Down 0.4 %

Shares of LNN stock opened at $113.28 on Tuesday. Lindsay has a 1 year low of $106.46 and a 1 year high of $137.31. The firm has a market capitalization of $1.23 billion, a PE ratio of 17.19 and a beta of 0.62. The stock has a fifty day moving average of $116.19 and a two-hundred day moving average of $120.58. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.56 and a current ratio of 3.95.

Lindsay (NYSE:LNNGet Free Report) last posted its quarterly earnings data on Thursday, June 27th. The industrial products company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.68. The business had revenue of $139.20 million during the quarter, compared to the consensus estimate of $144.38 million. Lindsay had a net margin of 11.75% and a return on equity of 14.41%. The company’s quarterly revenue was down 15.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.53 earnings per share. As a group, research analysts expect that Lindsay will post 5.44 EPS for the current year.

Lindsay Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.27%. This is a boost from Lindsay’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, August 16th. Lindsay’s payout ratio is presently 21.24%.

Lindsay Company Profile

(Get Free Report

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.

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