Lindsay’s (LNN) “Hold (C+)” Rating Reiterated at Weiss Ratings

Lindsay (NYSE:LNN)‘s stock had its “hold (c+)” rating restated by stock analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Separately, Stifel Nicolaus upped their target price on shares of Lindsay from $128.00 to $136.00 and gave the stock a “hold” rating in a research note on Friday, June 27th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $136.00.

Lindsay Price Performance

Shares of LNN opened at $139.79 on Wednesday. Lindsay has a fifty-two week low of $112.14 and a fifty-two week high of $150.96. The firm’s 50 day moving average price is $138.97 and its 200 day moving average price is $136.04. The company has a market cap of $1.52 billion, a P/E ratio of 20.08 and a beta of 0.82. The company has a quick ratio of 2.64, a current ratio of 3.64 and a debt-to-equity ratio of 0.22.

Insider Buying and Selling

In other Lindsay news, Director Robert E. Brunner sold 1,856 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $142.08, for a total transaction of $263,700.48. Following the completion of the transaction, the director owned 3,274 shares in the company, valued at $465,169.92. The trade was a 36.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in LNN. Jennison Associates LLC grew its holdings in Lindsay by 107.5% during the 2nd quarter. Jennison Associates LLC now owns 450,121 shares of the industrial products company’s stock worth $64,930,000 after acquiring an additional 233,243 shares in the last quarter. American Century Companies Inc. grew its holdings in Lindsay by 185.8% during the 2nd quarter. American Century Companies Inc. now owns 131,079 shares of the industrial products company’s stock worth $18,908,000 after acquiring an additional 85,212 shares in the last quarter. Amundi boosted its holdings in shares of Lindsay by 48.8% in the 2nd quarter. Amundi now owns 210,043 shares of the industrial products company’s stock valued at $28,286,000 after buying an additional 68,863 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Lindsay in the 2nd quarter valued at $6,670,000. Finally, Nuveen LLC acquired a new position in shares of Lindsay in the 1st quarter valued at $4,593,000. Institutional investors and hedge funds 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.