Zacks Research Upgrades Lindsay (NYSE:LNN) to Hold

Lindsay (NYSE:LNN) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Wednesday, Zacks reports.

LNN has been the topic of a number of other research reports. Stifel Nicolaus set a $121.00 target price on shares of Lindsay in a research note on Thursday, September 24th. Weiss Ratings raised Lindsay from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, September 2nd. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $121.00.

Lindsay Trading Up 0.7%

Shares of Lindsay stock opened at $112.67 on Wednesday. Lindsay has a 1-year low of $97.27 and a 1-year high of $148.00. The company’s fifty day simple moving average is $115.74 and its 200-day simple moving average is $114.16. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.93 and a quick ratio of 2.04. The stock has a market capitalization of $1.15 billion, a PE ratio of 21.63 and a beta of 0.69.

Lindsay (NYSE:LNN) last released its earnings results on Thursday, July 2nd. The industrial products company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.39. Lindsay had a return on equity of 10.73% and a net margin of 8.79%.The company had revenue of $160.76 million for the quarter, compared to the consensus estimate of $157.80 million. During the same period in the previous year, the business earned $1.78 earnings per share. Lindsay’s quarterly revenue was down 5.2% compared to the same quarter last year. As a group, equities analysts anticipate that Lindsay will post 5.19 earnings per share for the current year.

Institutional Trading of Lindsay

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of Lindsay in the 2nd quarter valued at $219,361,000. Legal & General Group Plc purchased a new position in shares of Lindsay during the second quarter worth $23,537,000. Nuance Investments LLC acquired a new position in Lindsay during the second quarter valued at $22,195,000. Amundi lifted its position in Lindsay by 64.4% during the second quarter. Amundi now owns 423,312 shares of the industrial products company’s stock valued at $52,376,000 after purchasing an additional 165,745 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in Lindsay in the second quarter valued at $11,869,000. 89.94% of the stock is currently owned by institutional investors.

Lindsay Company Profile

Lindsay Corporation (NYSE:LNN) is a global manufacturer of irrigation and infrastructure products. Headquartered in Omaha, Nebraska, the company serves agricultural, transportation and public-sector customers through operations and distribution networks in North America and international markets.

Its irrigation business develops and manufactures mechanized irrigation systems, including center-pivot and lateral-move systems sold under the Zimmatic brand. Lindsay also provides irrigation controls, remote monitoring and farm-management technologies, including its FieldNET platform, which helps growers manage water application and system performance.

Through its infrastructure business, Lindsay supplies road-safety and transportation products such as movable barrier systems marketed under the Road Zipper brand, crash cushions, barriers and related roadway equipment.