Lindsay Co. (NYSE:LNN) Receives $138.33 Average Price Target from Brokerages

Lindsay Co. (NYSE:LNN) has been given an average rating of “Moderate Buy” by the four ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $138.33.

A number of research analysts recently commented on LNN shares. StockNews.com cut Lindsay from a “buy” rating to a “hold” rating in a report on Friday, April 12th. TheStreet downgraded shares of Lindsay from a “b-” rating to a “c+” rating in a report on Tuesday, March 5th. Finally, Northcoast Research upgraded shares of Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 target price for the company in a research report on Friday, April 5th.

Lindsay Stock Down 1.0 %

LNN opened at $116.24 on Thursday. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 18.54 and a beta of 0.61. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.58 and a current ratio of 3.87. The firm’s fifty day moving average is $117.18 and its 200 day moving average is $122.95. Lindsay has a fifty-two week low of $106.46 and a fifty-two week high of $137.31.

Lindsay (NYSE:LNN) last posted its quarterly earnings results on Thursday, April 4th. The industrial products company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.12. The business had revenue of $151.50 million for the quarter, compared to analysts’ expectations of $172.06 million. Lindsay had a return on equity of 15.04% and a net margin of 10.74%. The business’s quarterly revenue was down 8.8% on a year-over-year basis. During the same period last year, the firm earned $1.63 earnings per share. On average, sell-side analysts forecast that Lindsay will post 5.3 earnings per share for the current fiscal year.

Lindsay Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Thursday, May 16th. Lindsay’s payout ratio is 22.33%.

Institutional Investors Weigh In On Lindsay

Several large investors have recently bought and sold shares of LNN. Vanguard Group Inc. increased its stake in Lindsay by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 1,279,819 shares of the industrial products company’s stock worth $165,301,000 after acquiring an additional 17,261 shares during the last quarter. Nuance Investments LLC boosted its holdings in shares of Lindsay by 19.2% in the 3rd quarter. Nuance Investments LLC now owns 350,675 shares of the industrial products company’s stock worth $41,267,000 after purchasing an additional 56,526 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Lindsay by 5.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 312,084 shares of the industrial products company’s stock valued at $40,310,000 after purchasing an additional 14,738 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Lindsay by 7.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 211,195 shares of the industrial products company’s stock valued at $24,853,000 after buying an additional 13,760 shares during the period. Finally, American Century Companies Inc. lifted its position in Lindsay by 3,922.9% in the third quarter. American Century Companies Inc. now owns 190,726 shares of the industrial products company’s stock worth $22,445,000 after buying an additional 185,985 shares during the last quarter. Institutional investors own 89.94% of the company’s stock.

Lindsay Company Profile

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.