Stifel Nicolaus Issues Positive Forecast for Lindsay (NYSE:LNN) Stock Price

Lindsay (NYSE:LNN) had its target price upped by Stifel Nicolaus from $126.00 to $130.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a hold rating on the industrial products company’s stock.

Separately, StockNews.com raised shares of Lindsay from a “hold” rating to a “buy” rating in a research note on Tuesday.

Lindsay Price Performance

LNN opened at $122.66 on Wednesday. The business has a fifty day moving average of $125.62 and a 200 day moving average of $121.87. The stock has a market cap of $1.33 billion, a P/E ratio of 20.38 and a beta of 0.66. The company has a quick ratio of 2.69, a current ratio of 3.92 and a debt-to-equity ratio of 0.24. Lindsay has a 52-week low of $109.27 and a 52-week high of $135.20.

Lindsay (NYSE:LNN) last posted its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.18. The firm had revenue of $166.30 million for the quarter, compared to analysts’ expectations of $169.78 million. Lindsay had a net margin of 10.91% and a return on equity of 12.86%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.36 earnings per share. As a group, sell-side analysts anticipate that Lindsay will post 5.64 EPS for the current year.

Lindsay Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Friday, November 15th. Lindsay’s payout ratio is 23.11%.

Institutional Trading of Lindsay

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. US Bancorp DE boosted its position in Lindsay by 45.9% during the third quarter. US Bancorp DE now owns 267 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 84 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Lindsay by 90.3% during the fourth quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company’s stock valued at $33,000 after buying an additional 131 shares during the last quarter. CWM LLC boosted its holdings in shares of Lindsay by 16.8% in the 3rd quarter. CWM LLC now owns 638 shares of the industrial products company’s stock valued at $80,000 after buying an additional 92 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Lindsay in the 2nd quarter worth approximately $241,000. Finally, Point72 Asset Management L.P. raised its stake in shares of Lindsay by 1,283.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,767 shares of the industrial products company’s stock worth $340,000 after acquiring an additional 2,567 shares in the last quarter. 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.