Several other equities analysts have also issued reports on the company. Stifel Nicolaus reiterated a hold rating and issued a $91.00 target price on shares of Lindsay in a research note on Thursday, December 14th. Zacks Investment Research lowered Lindsay from a hold rating to a sell rating in a research note on Wednesday, December 13th. Finally, Boenning Scattergood reiterated a hold rating on shares of Lindsay in a research note on Thursday, October 12th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $95.25.
Lindsay (LNN) opened at $92.13 on Tuesday. Lindsay has a 52 week low of $73.34 and a 52 week high of $96.22. The company has a quick ratio of 2.24, a current ratio of 3.29 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $987.76, a PE ratio of 38.71, a price-to-earnings-growth ratio of 1.94 and a beta of 0.50.
Lindsay (NYSE:LNN) last posted its earnings results on Thursday, December 21st. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.06). Lindsay had a net margin of 4.79% and a return on equity of 9.65%. The company had revenue of $124.53 million during the quarter, compared to analysts’ expectations of $117.11 million. During the same quarter last year, the firm earned $0.08 EPS. Lindsay’s revenue for the quarter was up 12.8% on a year-over-year basis. equities research analysts expect that Lindsay will post 3.05 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, February 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.30%. Lindsay’s payout ratio is 50.42%.
In other news, insider David B. Downing sold 26,265 shares of the business’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $86.14, for a total transaction of $2,262,467.10. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael Nahl sold 7,200 shares of the business’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $86.43, for a total value of $622,296.00. Following the sale, the director now owns 3,687 shares in the company, valued at approximately $318,667.41. The disclosure for this sale can be found here. Insiders have sold 55,281 shares of company stock worth $4,763,339 in the last 90 days. Insiders own 1.20% of the company’s stock.
Several hedge funds have recently modified their holdings of LNN. Schwab Charles Investment Management Inc. grew its stake in shares of Lindsay by 5.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 74,168 shares of the industrial products company’s stock worth $6,620,000 after acquiring an additional 3,970 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Lindsay by 9.3% during the second quarter. Legal & General Group Plc now owns 20,506 shares of the industrial products company’s stock worth $1,833,000 after acquiring an additional 1,738 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Lindsay by 41.6% during the second quarter. BNP Paribas Arbitrage SA now owns 4,539 shares of the industrial products company’s stock worth $405,000 after acquiring an additional 1,334 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Lindsay by 5.4% during the second quarter. Principal Financial Group Inc. now owns 94,772 shares of the industrial products company’s stock worth $8,458,000 after acquiring an additional 4,830 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its holdings in shares of Lindsay by 92.2% during the second quarter. Oppenheimer & Co. Inc. now owns 5,761 shares of the industrial products company’s stock worth $514,000 after purchasing an additional 2,763 shares during the period. Institutional investors and hedge funds own 93.97% of the company’s stock.
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Lindsay Corporation, along with its subsidiaries, provides a range of water management and road infrastructure products and services. The Company operates through two segments: Irrigation Segment and Infrastructure Segment. The Irrigation Segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, which are used primarily in the agricultural industry.
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