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

Shares of Lindsay Co. (NYSE:LNN) have been assigned a consensus rating of “Moderate Buy” from the four analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $138.33.

Several brokerages have recently issued reports on LNN. TheStreet lowered shares of Lindsay from a “b-” rating to a “c+” rating in a research note on Tuesday, March 5th. StockNews.com cut Lindsay from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Finally, Northcoast Research upgraded Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 price objective on the stock in a research note on Friday, April 5th.

Lindsay Stock Performance

Shares of LNN stock opened at $116.24 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.58. The firm has a 50-day moving average of $117.18 and a 200-day moving average of $122.95. Lindsay has a one year low of $106.46 and a one year high of $137.31. The company has a market cap of $1.28 billion, a P/E ratio of 18.54 and a beta of 0.61.

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, topping analysts’ consensus estimates of $1.52 by $0.12. The firm had revenue of $151.50 million for the quarter, compared to the consensus estimate of $172.06 million. Lindsay had a return on equity of 15.04% and a net margin of 10.74%. The company’s revenue was down 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.63 EPS. Equities research analysts forecast that Lindsay will post 5.3 EPS for the current fiscal year.

Lindsay Dividend Announcement

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its holdings in Lindsay by 7.0% in 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 purchasing an additional 13,760 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Lindsay by 48.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,332 shares of the industrial products company’s stock worth $274,000 after buying an additional 756 shares in the last quarter. Inspire Investing LLC purchased a new position in Lindsay during the third quarter worth about $316,000. Annex Advisory Services LLC increased its stake in Lindsay by 26.0% in the 3rd quarter. Annex Advisory Services LLC now owns 5,467 shares of the industrial products company’s stock worth $643,000 after acquiring an additional 1,127 shares during the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Lindsay in the 3rd quarter valued at about $572,000. Institutional investors own 89.94% of the company’s stock.

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.