Lindsay (NYSE:LNN)‘s stock had its “buy” rating reaffirmed by stock analysts at Boenning Scattergood in a research note issued to investors on Thursday. They currently have a $132.00 price objective on the industrial products company’s stock. Boenning Scattergood’s price objective would suggest a potential upside of 42.27% from the stock’s current price.
A number of other equities analysts have also weighed in on the stock. TheStreet lowered shares of Lindsay from a “b” rating to a “c+” rating in a research report on Tuesday, January 8th. ValuEngine lowered shares of Lindsay from a “buy” rating to a “hold” rating in a research report on Saturday, February 2nd. Sidoti lowered shares of Lindsay from a “buy” rating to a “neutral” rating and set a $111.00 target price for the company. in a research report on Tuesday, November 13th. Finally, Zacks Investment Research upgraded shares of Lindsay from a “strong sell” rating to a “hold” rating and set a $108.00 target price for the company in a research report on Tuesday, December 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Lindsay has an average rating of “Hold” and a consensus price target of $102.60.
Shares of NYSE:LNN opened at $92.78 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.92 and a quick ratio of 2.85. Lindsay has a fifty-two week low of $83.57 and a fifty-two week high of $109.50. The firm has a market cap of $985.30 million, a P/E ratio of 31.56, a P/E/G ratio of 1.86 and a beta of 0.29.
Lindsay (NYSE:LNN) last issued its 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 return on equity of 11.80% and a net margin of 3.42%. The company had revenue of $111.95 million for the quarter, compared to the consensus estimate of $113.57 million. During the same quarter in the prior year, the company posted $0.30 EPS. Lindsay’s revenue was down 10.1% compared to the same quarter last year. Research analysts anticipate that Lindsay will post 2.74 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans raised its stake in Lindsay by 11.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 261,970 shares of the industrial products company’s stock valued at $25,215,000 after purchasing an additional 27,339 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new stake in Lindsay during the fourth quarter valued at $299,000. Gotham Asset Management LLC raised its stake in Lindsay by 74.6% during the fourth quarter. Gotham Asset Management LLC now owns 8,743 shares of the industrial products company’s stock valued at $842,000 after purchasing an additional 3,736 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in Lindsay by 376.4% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,435 shares of the industrial products company’s stock valued at $331,000 after purchasing an additional 2,714 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Lindsay during the fourth quarter valued at $238,000. 97.21% of the stock is currently owned by institutional investors.
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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