Lindsay (NYSE:LNN) Upgraded to “Hold” at Zacks Research

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

A number of other research firms also recently commented on LNN. Stifel Nicolaus dropped their price objective on Lindsay from $128.00 to $113.00 and set a “hold” rating on the stock in a report on Monday, April 6th. Weiss Ratings downgraded Lindsay from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 21st. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $113.00.

Lindsay Stock Up 1.5%

Shares of Lindsay stock opened at $114.74 on Monday. Lindsay has a 52-week low of $97.27 and a 52-week high of $150.96. The company has a 50 day moving average of $109.97 and a 200 day moving average of $119.21. The company has a quick ratio of 2.15, a current ratio of 3.02 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $1.19 billion, a P/E ratio of 21.02 and a beta of 0.72.

Lindsay (NYSE:LNN) last announced its quarterly earnings data on Thursday, April 2nd. The industrial products company reported $1.15 EPS for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.45). Lindsay had a net margin of 9.25% and a return on equity of 11.28%. The firm had revenue of $157.72 million during the quarter, compared to analysts’ expectations of $163.52 million. During the same period in the prior year, the company posted $2.44 earnings per share. The company’s revenue for the quarter was down 15.7% on a year-over-year basis. As a group, research analysts forecast that Lindsay will post 5.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd acquired a new stake in shares of Lindsay in the fourth quarter valued at approximately $25,000. Advisory Services Network LLC purchased a new stake in shares of Lindsay in the third quarter valued at about $30,000. Parallel Advisors LLC raised its holdings in shares of Lindsay by 1,295.8% in the first quarter. Parallel Advisors LLC now owns 335 shares of the industrial products company’s stock valued at $40,000 after buying an additional 311 shares during the last quarter. Copeland Capital Management LLC acquired a new stake in shares of Lindsay during the fourth quarter worth about $62,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Lindsay during the fourth quarter worth about $83,000. 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.