Lindsay Co. (LNN) Given Average Recommendation of “Hold” by Brokerages

Shares of Lindsay Co. (NYSE:LNN) have been assigned an average rating of “Hold” from the seven research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $101.25.

Several brokerages recently weighed in on LNN. ValuEngine upgraded shares of Lindsay from a “hold” rating to a “buy” rating in a report on Wednesday, March 20th. Boenning Scattergood reiterated a “buy” rating and issued a $132.00 price target on shares of Lindsay in a report on Thursday, February 28th. Finally, Zacks Investment Research upgraded shares of Lindsay from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th.

Shares of NYSE:LNN opened at $86.74 on Monday. Lindsay has a twelve month low of $82.41 and a twelve month high of $109.50. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.63 and a current ratio of 3.85. The company has a market capitalization of $935.93 million, a P/E ratio of 29.50 and a beta of 0.26.

Lindsay (NYSE:LNN) last issued its quarterly earnings results on Tuesday, April 9th. The industrial products company reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.60). Lindsay had a return on equity of 9.72% and a net margin of 2.55%. The business had revenue of $109.20 million during the quarter, compared to analyst estimates of $115.43 million. During the same quarter last year, the company posted $0.56 EPS. Lindsay’s quarterly revenue was down 16.2% compared to the same quarter last year. On average, analysts forecast that Lindsay will post 1.84 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.43%. Lindsay’s payout ratio is 42.18%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Swiss National Bank grew its stake in shares of Lindsay by 3.2% during the 1st quarter. Swiss National Bank now owns 19,600 shares of the industrial products company’s stock worth $1,897,000 after purchasing an additional 600 shares during the period. Wells Fargo & Company MN grew its stake in shares of Lindsay by 6.0% during the 1st quarter. Wells Fargo & Company MN now owns 21,233 shares of the industrial products company’s stock worth $2,055,000 after purchasing an additional 1,209 shares during the period. First Trust Advisors LP grew its stake in shares of Lindsay by 5.7% during the 1st quarter. First Trust Advisors LP now owns 74,029 shares of the industrial products company’s stock worth $7,165,000 after purchasing an additional 3,977 shares during the period. Piedmont Investment Advisors Inc. grew its stake in shares of Lindsay by 6.4% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 2,723 shares of the industrial products company’s stock worth $264,000 after purchasing an additional 164 shares during the period. Finally, Global Alpha Capital Management Ltd. grew its stake in shares of Lindsay by 8.5% during the 1st quarter. Global Alpha Capital Management Ltd. now owns 107,638 shares of the industrial products company’s stock worth $10,418,000 after purchasing an additional 8,400 shares during the period. 93.23% of the stock is currently owned by institutional investors and hedge funds.

Lindsay Company Profile

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.

Featured Article: How Does the Quiet Period Work?

Receive News & Ratings for Lindsay Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lindsay and related companies with MarketBeat.com's FREE daily email newsletter.