Lindsay (NYSE:LNN – Get Free Report) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday, Zacks reports.
Other analysts also recently issued reports about the company. Stifel Nicolaus set a $121.00 target price on Lindsay in a research note on Thursday, September 24th. Weiss Ratings upgraded shares of Lindsay from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, September 2nd. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $121.00.
View Our Latest Stock Report on Lindsay
Lindsay Stock Performance
Lindsay (NYSE:LNN – Get Free Report) last posted its quarterly earnings data on Thursday, July 2nd. The industrial products company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.39. The business had revenue of $160.76 million for the quarter, compared to analysts’ expectations of $157.80 million. Lindsay had a return on equity of 10.73% and a net margin of 8.79%.The business’s revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.78 earnings per share. As a group, research analysts predict that Lindsay will post 5.19 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the company. Cim Investment Management Inc. acquired a new stake in shares of Lindsay during the 2nd quarter worth approximately $218,000. Sequoia Financial Advisors LLC bought a new position in shares of Lindsay during the 2nd quarter worth approximately $284,000. Tidal Investments LLC bought a new position in Lindsay in the second quarter valued at $623,000. WINTON GROUP Ltd increased its position in shares of Lindsay by 44.1% in the second quarter. WINTON GROUP Ltd now owns 10,941 shares of the industrial products company’s stock valued at $1,354,000 after acquiring an additional 3,350 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Lindsay during the 2nd quarter worth approximately $109,000. Institutional investors own 89.94% of the company’s stock.
About Lindsay
Lindsay Corporation (NYSE:LNN) is a global manufacturer of irrigation and infrastructure products. Headquartered in Omaha, Nebraska, the company serves agricultural, transportation and public-sector customers through operations and distribution networks in North America and international markets.
Its irrigation business develops and manufactures mechanized irrigation systems, including center-pivot and lateral-move systems sold under the Zimmatic brand. Lindsay also provides irrigation controls, remote monitoring and farm-management technologies, including its FieldNET platform, which helps growers manage water application and system performance.
Through its infrastructure business, Lindsay supplies road-safety and transportation products such as movable barrier systems marketed under the Road Zipper brand, crash cushions, barriers and related roadway equipment.
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