Boenning Scattergood Reaffirms Buy Rating for Lindsay (LNN)

Boenning Scattergood reissued their buy rating on shares of Lindsay (NYSE:LNN) in a research note released on Tuesday morning. They currently have a $132.00 target price on the industrial products company’s stock. Boenning Scattergood also issued estimates for Lindsay’s Q2 2019 earnings at $0.31 EPS, Q3 2019 earnings at $0.87 EPS, Q4 2019 earnings at $0.31 EPS, FY2019 earnings at $1.60 EPS, Q1 2020 earnings at $0.81 EPS, Q2 2020 earnings at $1.08 EPS, Q3 2020 earnings at $1.48 EPS, Q4 2020 earnings at $0.88 EPS and FY2020 earnings at $4.25 EPS.

A number of other research analysts have also weighed in on the stock. Zacks Investment Research raised shares of Lindsay from a strong sell rating to a hold rating and set a $108.00 price target on the stock in a research note on Tuesday, December 18th. Sidoti lowered shares of Lindsay from a buy rating to a neutral rating and set a $111.00 price objective on the stock. in a research report on Tuesday, November 13th. ValuEngine lowered shares of Lindsay from a buy rating to a hold rating in a research report on Thursday, October 18th. Stifel Nicolaus boosted their price objective on shares of Lindsay from $91.00 to $92.00 and gave the stock a hold rating in a research report on Monday, October 8th. Finally, Monness Crespi & Hardt set a $70.00 price objective on shares of Lindsay and gave the stock a sell rating in a research report on Wednesday, September 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. Lindsay presently has a consensus rating of Hold and a consensus price target of $102.60.

LNN traded down $0.42 during trading on Tuesday, reaching $85.70. The company had a trading volume of 1,942 shares, compared to its average volume of 102,762. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.14 and a current ratio of 3.92. Lindsay has a 12 month low of $83.57 and a 12 month high of $109.50. The firm has a market cap of $912.39 million, a P/E ratio of 29.11, a PEG ratio of 1.87 and a beta of 0.43.



Lindsay (NYSE:LNN) last announced its quarterly earnings results on Tuesday, January 8th. The industrial products company reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.09). Lindsay had a net margin of 3.42% and a return on equity of 11.80%. The company had revenue of $111.95 million during the quarter, compared to the consensus estimate of $113.57 million. During the same period in the previous year, the firm posted $0.30 EPS. The business’s quarterly revenue was down 10.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Lindsay will post 2.52 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 28th. Stockholders of record on Thursday, February 14th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Wednesday, February 13th. Lindsay’s dividend payout ratio is presently 42.18%.

Hedge funds have recently made changes to their positions in the company. Keybank National Association OH bought a new stake in shares of Lindsay in the third quarter worth $200,000. SG Americas Securities LLC acquired a new position in Lindsay during the second quarter worth $239,000. Meadow Creek Investment Management LLC increased its holdings in Lindsay by 201.8% during the second quarter. Meadow Creek Investment Management LLC now owns 2,656 shares of the industrial products company’s stock worth $258,000 after buying an additional 1,776 shares during the last quarter. Laurion Capital Management LP acquired a new position in Lindsay during the second quarter worth $291,000. Finally, Suffolk Capital Management LLC acquired a new position in Lindsay during the third quarter worth $485,000. 98.61% of the stock is currently owned by institutional investors and hedge funds.

Lindsay Company Profile

Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. The company's Irrigation segment manufactures and markets center pivot, lateral move irrigation systems, and irrigation controls under the Zimmatic brand; hose reel travelers under the Perrot and Greenfield brands; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems under the GrowSmart brand.

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Analyst Recommendations for Lindsay (NYSE:LNN)

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