Lindsay Co. (NYSE:LNN) has received an average rating of “Hold” from the seven brokerages that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $92.67.
Several research analysts recently weighed in on the stock. Stifel Nicolaus reissued a “hold” rating and set a $91.00 price objective on shares of Lindsay in a research note on Thursday, December 14th. Zacks Investment Research lowered shares of Lindsay from a “hold” rating to a “sell” rating in a research note on Wednesday, December 13th. TheStreet upgraded shares of Lindsay from a “c+” rating to a “b-” rating in a report on Thursday, November 16th. Piper Jaffray Companies restated a “hold” rating and set a $80.00 target price on shares of Lindsay in a report on Sunday, September 10th. Finally, Boenning Scattergood restated a “hold” rating on shares of Lindsay in a report on Thursday, October 12th.
Lindsay (LNN) opened at $88.42 on Friday. The stock has a market cap of $931.05, a PE ratio of 36.49, a PEG ratio of 1.90 and a beta of 0.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.29 and a quick ratio of 2.24. Lindsay has a one year low of $73.34 and a one year high of $96.22.
Lindsay (NYSE:LNN) last released its quarterly earnings data on Thursday, December 21st. The industrial products company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.06). Lindsay had a return on equity of 9.65% and a net margin of 4.79%. The firm had revenue of $124.53 million for the quarter, compared to the consensus estimate of $117.11 million. During the same period in the previous year, the business earned $0.08 EPS. The firm’s revenue was up 12.8% compared to the same quarter last year. sell-side analysts expect that Lindsay will post 3.05 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th will be issued a $0.30 dividend. The ex-dividend date is Tuesday, February 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.36%. Lindsay’s dividend payout ratio (DPR) is presently 50.42%.
In other Lindsay news, insider David B. Downing sold 26,265 shares of Lindsay stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $86.14, for a total transaction of $2,262,467.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Nahl sold 7,200 shares of Lindsay stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $86.43, for a total transaction of $622,296.00. Following the transaction, the director now directly owns 3,687 shares of the company’s stock, valued at $318,667.41. The disclosure for this sale can be found here. Insiders sold 55,281 shares of company stock worth $4,763,339 over the last quarter. 3.10% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. California Public Employees Retirement System raised its stake in Lindsay by 5.3% in the third quarter. California Public Employees Retirement System now owns 28,438 shares of the industrial products company’s stock valued at $2,613,000 after purchasing an additional 1,438 shares in the last quarter. Magnetar Financial LLC acquired a new position in Lindsay during the third quarter worth about $626,000. Royce & Associates LP raised its stake in Lindsay by 0.7% during the third quarter. Royce & Associates LP now owns 970,117 shares of the industrial products company’s stock worth $89,154,000 after acquiring an additional 6,593 shares in the last quarter. OxFORD Asset Management LLP raised its stake in Lindsay by 659.5% during the third quarter. OxFORD Asset Management LLP now owns 18,645 shares of the industrial products company’s stock worth $1,711,000 after acquiring an additional 16,190 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in Lindsay by 7.0% during the third quarter. Schwab Charles Investment Management Inc. now owns 79,352 shares of the industrial products company’s stock worth $7,293,000 after acquiring an additional 5,184 shares in the last quarter. 94.23% of the stock is owned by institutional investors.
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Lindsay Company Profile
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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