Lindsay (NYSE:LNN) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

Lindsay Corporation (NYSE:LNN) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $126.89 and traded as high as $130.03. Lindsay shares last traded at $127.7440, with a volume of 80,189 shares trading hands.

Analysts Set New Price Targets

Separately, Stifel Nicolaus boosted their target price on Lindsay from $122.00 to $128.00 and gave the stock a “hold” rating in a report on Friday, January 9th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $128.00.

Lindsay Price Performance

The company’s fifty day moving average is $128.81 and its two-hundred day moving average is $126.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.43 and a current ratio of 3.42. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 18.93 and a beta of 0.79.

Lindsay (NYSE:LNN) last announced its quarterly earnings results on Thursday, January 8th. The industrial products company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.08. The firm had revenue of $155.82 million during the quarter, compared to the consensus estimate of $166.81 million. Lindsay had a return on equity of 14.01% and a net margin of 11.02%.The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.57 EPS. Equities research analysts forecast that Lindsay Corporation will post 5.82 EPS for the current year.

Lindsay Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.48 annualized dividend and a yield of 1.2%. Lindsay’s payout ratio is 21.93%.

Institutional Trading of Lindsay

Several large investors have recently bought and sold shares of LNN. Amalgamated Bank grew its stake in Lindsay by 3.5% in the third quarter. Amalgamated Bank now owns 3,204 shares of the industrial products company’s stock worth $450,000 after purchasing an additional 107 shares in the last quarter. Sei Investments Co. lifted its holdings in Lindsay by 2.3% during the 2nd quarter. Sei Investments Co. now owns 6,466 shares of the industrial products company’s stock worth $933,000 after buying an additional 145 shares during the last quarter. Chatham Capital Group Inc. increased its holdings in shares of Lindsay by 1.4% in the 4th quarter. Chatham Capital Group Inc. now owns 12,440 shares of the industrial products company’s stock valued at $1,466,000 after acquiring an additional 170 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Lindsay by 11.3% during the 3rd quarter. Van ECK Associates Corp now owns 1,739 shares of the industrial products company’s stock valued at $244,000 after acquiring an additional 177 shares in the last quarter. Finally, Aristides Capital LLC boosted its holdings in Lindsay by 10.4% in the third quarter. Aristides Capital LLC now owns 1,953 shares of the industrial products company’s stock worth $275,000 after purchasing an additional 184 shares during the period. Institutional investors and hedge funds own 89.94% of the company’s stock.

About Lindsay

Lindsay Corporation (NYSE: LNN) is a U.S.-based manufacturer of agricultural irrigation and infrastructure products. Headquartered in Omaha, Nebraska, the company has built a reputation for designing and producing center pivot and lateral‐move irrigation systems under the Zimmatic brand. These systems feature advanced controls, precision sprinklers and automated monitoring technology that help growers optimize water use, improve crop yields and enhance sustainability in a variety of row-crop, specialty crop and forage operations.

Beyond its core irrigation business, Lindsay operates an infrastructure segment that delivers engineered products and services for water and roadway management.