Brokerages Set Lindsay Corp. (NYSE:LNN) PT at $71.40
Lindsay Corp. (NYSE:LNN) has been assigned an average rating of “Hold” from the eight brokerages that are currently covering the company. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $71.40.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Lindsay Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, August 30th. TheStreet lowered shares of Lindsay Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 15th.
Shares of Lindsay Corp. (NYSE:LNN) opened at 73.98 on Wednesday. Lindsay Corp. has a 12 month low of $62.99 and a 12 month high of $79.27. The firm has a market cap of $786.41 million, a price-to-earnings ratio of 88.92 and a beta of 0.92. The stock has a 50 day moving average of $72.23 and a 200 day moving average of $71.51.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Wednesday, November 16th will be paid a dividend of $0.29 per share. The ex-dividend date is Monday, November 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.57%. Lindsay Corp.’s dividend payout ratio is currently 133.33%.
Hedge funds have recently bought and sold shares of the stock. Mariner Wealth Advisors LLC purchased a new stake in Lindsay Corp. during the first quarter worth about $353,000. Teachers Advisors Inc. raised its stake in Lindsay Corp. by 15.8% in the first quarter. Teachers Advisors Inc. now owns 21,040 shares of the company’s stock worth $1,507,000 after buying an additional 2,867 shares in the last quarter. Geode Capital Management LLC raised its stake in Lindsay Corp. by 0.3% in the first quarter. Geode Capital Management LLC now owns 74,449 shares of the company’s stock worth $5,331,000 after buying an additional 210 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Lindsay Corp. by 60.3% in the second quarter. BNP Paribas Arbitrage SA now owns 5,268 shares of the company’s stock worth $357,000 after buying an additional 1,981 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in Lindsay Corp. by 1.8% in the first quarter. Arizona State Retirement System now owns 5,734 shares of the company’s stock worth $411,000 after buying an additional 100 shares in the last quarter.
About Lindsay Corp.
Lindsay Corporation provides a range of water management and road infrastructure products and services. The Company operates through two segments: Irrigation Segment and Infrastructure Segment. Its Irrigation Segment includes the manufacture and marketing of center pivot, lateral move and hose reel irrigation systems, which are used principally in the agricultural industry.
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