Lindsay (NYSE:LNN) Cut to Hold at StockNews.com

by · The Markets Daily

Lindsay (NYSE:LNN – Get Free Report) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Thursday.

Separately, Stifel Nicolaus raised their price target on shares of Lindsay from $126.00 to $130.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th.

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Lindsay Trading Down 1.0 %

Shares of NYSE:LNN traded down $1.32 during midday trading on Thursday, reaching $129.13. The company’s stock had a trading volume of 259,561 shares, compared to its average volume of 86,579. The firm has a 50 day moving average price of $131.41 and a two-hundred day moving average price of $127.01. Lindsay has a fifty-two week low of $109.27 and a fifty-two week high of $140.27. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 20.73 and a beta of 0.72. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.65 and a current ratio of 3.87.

Lindsay (NYSE:LNN – Get Free Report) last issued its quarterly earnings results on Thursday, April 3rd. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.55. The firm had revenue of $187.10 million for the quarter, compared to analyst estimates of $174.50 million. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. The company’s revenue was up 23.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.64 earnings per share. As a group, analysts forecast that Lindsay will post 5.82 earnings per share for the current year.

Hedge Funds Weigh In On Lindsay

A number of large investors have recently modified their holdings of the company. Corient Private Wealth LLC raised its holdings in Lindsay by 1.8% during the fourth quarter. Corient Private Wealth LLC now owns 4,515 shares of the industrial products company’s stock worth $534,000 after buying an additional 78 shares during the last quarter. Global Retirement Partners LLC increased its position in shares of Lindsay by 10.3% during the fourth quarter. Global Retirement Partners LLC now owns 925 shares of the industrial products company’s stock worth $109,000 after acquiring an additional 86 shares in the last quarter. Gitterman Wealth Management LLC raised its holdings in shares of Lindsay by 6.1% in the 4th quarter. Gitterman Wealth Management LLC now owns 1,753 shares of the industrial products company’s stock worth $207,000 after acquiring an additional 101 shares during the last quarter. GAMMA Investing LLC lifted its position in Lindsay by 90.3% in the 4th quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 131 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in Lindsay by 1.7% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 10,588 shares of the industrial products company’s stock valued at $1,253,000 after purchasing an additional 177 shares during the last quarter. 89.94% of the stock is currently owned by institutional investors.

Lindsay Company Profile

(Get Free Report)

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.

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