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

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

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

Hedge Funds Weigh In On Lindsay

Several hedge funds and other institutional investors have recently modified their holdings of LNN. McGlone Suttner Wealth Management Inc. acquired a new stake in Lindsay during the 4th quarter valued at $28,000. Quest Partners LLC acquired a new stake in Lindsay during the 4th quarter valued at $51,000. Tompkins Financial Corp increased its holdings in Lindsay by 66.7% during the 1st quarter. Tompkins Financial Corp now owns 500 shares of the industrial products company’s stock valued at $59,000 after purchasing an additional 200 shares in the last quarter. CWM LLC increased its holdings in Lindsay by 129.6% during the 4th quarter. CWM LLC now owns 489 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 276 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in Lindsay during the 1st quarter valued at $145,000. Institutional investors own 89.94% of the company’s stock.

Lindsay Price Performance

Shares of NYSE:LNN opened at $115.77 on Monday. The business has a 50 day moving average price of $116.51 and a 200 day moving average price of $122.65. Lindsay has a twelve month low of $106.46 and a twelve month high of $137.31. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 18.46 and a beta of 0.63. The company has a quick ratio of 2.58, a current ratio of 3.87 and a debt-to-equity ratio of 0.24.

Lindsay (NYSE:LNN) last announced its earnings results on Thursday, April 4th. The industrial products company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.12. Lindsay had a return on equity of 15.04% and a net margin of 10.74%. The firm had revenue of $151.50 million during the quarter, compared to the consensus estimate of $172.06 million. During the same quarter in the prior year, the company earned $1.63 EPS. The firm’s revenue for the quarter was down 8.8% compared to the same quarter last year. Research analysts predict that Lindsay will post 5.3 earnings per share for the current year.

Lindsay Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.40 annualized dividend and a dividend yield of 1.21%. Lindsay’s dividend payout ratio (DPR) is presently 22.33%.

About Lindsay

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.