Lindsay (LNN) Stock Rating Lowered by TheStreet

Lindsay (NYSE:LNN) was downgraded by research analysts at TheStreet from a “b-” rating to a “c” rating in a research note issued to investors on Tuesday.

A number of other equities analysts have also weighed in on the stock. Stifel Nicolaus reiterated a “hold” rating and issued a $91.00 price objective on shares of Lindsay in a research report on Thursday, December 14th. Zacks Investment Research lowered shares of Lindsay from a “hold” rating to a “sell” rating in a research report on Wednesday, December 13th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Lindsay in a research report on Thursday, October 12th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $95.25.

Lindsay (NYSE LNN) opened at $89.17 on Tuesday. Lindsay has a 1 year low of $73.34 and a 1 year high of $96.22. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.29 and a quick ratio of 2.24. The firm has a market cap of $956.03, a price-to-earnings ratio of 37.47, a P/E/G ratio of 1.94 and a beta of 0.50.

Lindsay (NYSE:LNN) last posted its quarterly earnings data on Thursday, December 21st. The industrial products company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.06). Lindsay had a net margin of 4.79% and a return on equity of 9.65%. The firm had revenue of $124.53 million during the quarter, compared to analysts’ expectations of $117.11 million. During the same quarter last year, the business earned $0.08 earnings per share. The business’s quarterly revenue was up 12.8% on a year-over-year basis. equities analysts anticipate that Lindsay will post 3.05 earnings per share for the current year.

In other Lindsay news, Director Michael Nahl sold 7,200 shares of the business’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $86.43, for a total transaction of $622,296.00. Following the sale, the director now directly owns 3,687 shares in the company, valued at approximately $318,667.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David B. Downing sold 26,265 shares of the business’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $86.14, for a total transaction of $2,262,467.10. The disclosure for this sale can be found here. Insiders have sold a total of 55,281 shares of company stock worth $4,763,339 over the last 90 days. Insiders own 1.20% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. California Public Employees Retirement System raised its stake in shares of Lindsay by 5.3% during the 3rd quarter. California Public Employees Retirement System now owns 28,438 shares of the industrial products company’s stock worth $2,613,000 after buying an additional 1,438 shares during the last quarter. Magnetar Financial LLC acquired a new position in shares of Lindsay during the 3rd quarter worth $626,000. Royce & Associates LP raised its stake in shares of Lindsay by 0.7% during the 3rd quarter. Royce & Associates LP now owns 970,117 shares of the industrial products company’s stock worth $89,154,000 after buying an additional 6,593 shares during the last quarter. OxFORD Asset Management LLP raised its stake in shares of Lindsay by 659.5% during the 3rd quarter. OxFORD Asset Management LLP now owns 18,645 shares of the industrial products company’s stock worth $1,711,000 after buying an additional 16,190 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Lindsay by 7.0% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 79,352 shares of the industrial products company’s stock worth $7,293,000 after buying an additional 5,184 shares during the last quarter. Institutional investors own 93.97% of the company’s stock.

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About Lindsay

Lindsay Corporation, along with its subsidiaries, provides a range of water management and road infrastructure products and services. The Company operates through two segments: Irrigation Segment and Infrastructure Segment. The Irrigation Segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, which are used primarily in the agricultural industry.

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