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

Lindsay Co. (NYSE:LNN) has earned an average rating of “Moderate Buy” from the four ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $138.33.

Several equities research analysts recently commented on LNN shares. Northcoast Research raised shares of Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 price target for the company in a report on Friday, April 5th. TheStreet downgraded shares of Lindsay from a “b-” rating to a “c+” rating in a research report on Tuesday, March 5th. Finally, StockNews.com cut Lindsay from a “buy” rating to a “hold” rating in a report on Friday, April 12th.

Lindsay Stock Up 1.0 %

Shares of Lindsay stock opened at $117.35 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.58. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 18.72 and a beta of 0.61. The firm’s 50-day moving average is $117.06 and its two-hundred day moving average is $123.01. Lindsay has a 1 year low of $106.46 and a 1 year high of $137.31.

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 the consensus estimate of $1.52 by $0.12. The firm had revenue of $151.50 million during the quarter, compared to analyst estimates of $172.06 million. Lindsay had a net margin of 10.74% and a return on equity of 15.04%. Lindsay’s revenue was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.63 EPS. As a group, research analysts expect that Lindsay will post 5.3 earnings per share for the current fiscal year.

Lindsay Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a $0.35 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.19%. Lindsay’s dividend payout ratio (DPR) is presently 22.33%.

Hedge Funds Weigh In On Lindsay

A number of institutional investors have recently added to or reduced their stakes in LNN. Cardinal Capital Management grew its stake in shares of Lindsay by 1.9% in the 4th quarter. Cardinal Capital Management now owns 10,109 shares of the industrial products company’s stock valued at $1,306,000 after buying an additional 188 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Lindsay by 8.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,528 shares of the industrial products company’s stock valued at $327,000 after purchasing an additional 196 shares during the last quarter. Swiss National Bank increased its stake in Lindsay by 0.8% in the 3rd quarter. Swiss National Bank now owns 24,200 shares of the industrial products company’s stock valued at $2,848,000 after buying an additional 200 shares during the period. Tompkins Financial Corp boosted its holdings in shares of Lindsay by 66.7% in the first quarter. Tompkins Financial Corp now owns 500 shares of the industrial products company’s stock valued at $59,000 after acquiring an additional 200 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Lindsay in the fourth quarter valued at about $28,000. Hedge funds and other institutional investors own 89.94% of the company’s stock.

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.