Lindsay (NYSE:LNN) Price Target Raised to $134.00 at Stifel Nicolaus

Lindsay (NYSE:LNN) had its price target boosted by investment analysts at Stifel Nicolaus from $130.00 to $134.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 12.89% from the stock’s previous close.

Separately, StockNews.com lowered Lindsay from a “buy” rating to a “hold” rating in a research note on Thursday.

Lindsay Trading Down 8.2 %

Shares of NYSE:LNN traded down $10.58 during midday trading on Friday, reaching $118.70. The company’s stock had a trading volume of 35,451 shares, compared to its average volume of 79,554. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 19.05 and a beta of 0.72. The business has a 50 day moving average price of $131.41 and a 200 day moving average price of $127.01. Lindsay has a 1 year low of $109.27 and a 1 year high of $140.26. The company has a quick ratio of 2.65, a current ratio of 3.87 and a debt-to-equity ratio of 0.24.

Lindsay (NYSE:LNN) last posted its quarterly earnings data on Thursday, April 3rd. The industrial products company reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.55. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The company had revenue of $187.10 million during the quarter, compared to the consensus estimate of $174.50 million. During the same quarter in the prior year, the company posted $1.64 EPS. The company’s quarterly revenue was up 23.5% compared to the same quarter last year. Research analysts forecast that Lindsay will post 5.82 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. AlphaQuest LLC acquired a new position in Lindsay in the 4th quarter worth $32,000. GAMMA Investing LLC lifted its stake in shares of Lindsay by 90.3% in the fourth quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 131 shares in the last quarter. Global Retirement Partners LLC lifted its stake in shares of Lindsay by 10.3% in the fourth quarter. Global Retirement Partners LLC now owns 925 shares of the industrial products company’s stock worth $109,000 after acquiring an additional 86 shares in the last quarter. Van ECK Associates Corp grew its stake in Lindsay by 73.1% during the 4th quarter. Van ECK Associates Corp now owns 1,475 shares of the industrial products company’s stock valued at $175,000 after purchasing an additional 623 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Lindsay by 729.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,709 shares of the industrial products company’s stock worth $202,000 after purchasing an additional 1,503 shares during the last quarter. 89.94% of the stock is owned by institutional investors and hedge funds.

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.