Lindsay (NYSE:LNN) Stock Rating Lowered by Zacks Research

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

Separately, Stifel Nicolaus reduced their target price on shares of Lindsay from $128.00 to $113.00 and set a “hold” rating on the stock in a report on Monday. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $113.00.

Lindsay Stock Performance

Shares of NYSE LNN opened at $108.41 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.43 and a current ratio of 3.02. The company has a market cap of $1.13 billion, a P/E ratio of 19.86 and a beta of 0.82. The firm’s fifty day moving average is $125.61 and its two-hundred day moving average is $123.55. Lindsay has a 52-week low of $97.27 and a 52-week high of $150.96.

Lindsay (NYSE:LNN) last posted its earnings results on Thursday, April 2nd. The industrial products company reported $1.15 earnings per share for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.45). Lindsay had a return on equity of 11.28% and a net margin of 9.25%.The business had revenue of $157.72 million during the quarter, compared to the consensus estimate of $163.52 million. During the same quarter last year, the firm earned $2.44 earnings per share. The business’s quarterly revenue was down 15.7% on a year-over-year basis. As a group, analysts anticipate that Lindsay will post 5.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. AQR Capital Management LLC grew its stake in Lindsay by 13.9% in the 1st quarter. AQR Capital Management LLC now owns 8,043 shares of the industrial products company’s stock worth $1,018,000 after acquiring an additional 984 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Lindsay by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,455 shares of the industrial products company’s stock worth $817,000 after acquiring an additional 289 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Lindsay by 13.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 48,560 shares of the industrial products company’s stock worth $6,144,000 after acquiring an additional 5,749 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Lindsay by 7.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 39,056 shares of the industrial products company’s stock worth $4,941,000 after acquiring an additional 2,811 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in Lindsay by 134.4% in the 1st quarter. Jane Street Group LLC now owns 38,720 shares of the industrial products company’s stock worth $4,899,000 after acquiring an additional 22,204 shares in the last quarter. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Lindsay Company Profile

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.