Lindsay (NYSE:LNN) Lowered to Hold at StockNews.com

StockNews.com cut shares of Lindsay (NYSE:LNN) from a buy rating to a hold rating in a report released on Friday.

LNN has been the topic of a number of other research reports. Northcoast Research raised Lindsay from a neutral rating to a buy rating and set a $142.00 price target on the stock in a research report on Friday, April 5th. TheStreet downgraded Lindsay from a b- rating to a c+ rating in a research report on Tuesday, March 5th. Finally, Stifel Nicolaus lowered their price target on Lindsay from $129.00 to $123.00 and set a hold rating on the stock in a research report on Tuesday, December 19th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $138.33.

Lindsay Stock Up 0.2 %

NYSE:LNN opened at $114.74 on Friday. Lindsay has a 1 year low of $106.46 and a 1 year high of $137.31. The company has a current ratio of 3.87, a quick ratio of 2.58 and a debt-to-equity ratio of 0.24. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 18.30 and a beta of 0.61. The stock has a 50-day moving average price of $119.22 and a two-hundred day moving average price of $122.95.

Lindsay (NYSE:LNN) last issued its quarterly earnings results on Thursday, April 4th. The industrial products company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.12. Lindsay had a return on equity of 15.04% and a net margin of 10.74%. The company had revenue of $151.50 million for the quarter, compared to analyst estimates of $172.06 million. During the same period in the previous year, the company posted $1.63 earnings per share. The company’s quarterly revenue was down 8.8% compared to the same quarter last year. As a group, equities analysts expect that Lindsay will post 5.46 earnings per share for the current year.

Lindsay Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Thursday, May 16th. Lindsay’s dividend payout ratio (DPR) is 22.33%.

Institutional Investors Weigh In On Lindsay

Several hedge funds have recently modified their holdings of LNN. McGlone Suttner Wealth Management Inc. acquired a new position in Lindsay during the 4th quarter worth about $28,000. Quest Partners LLC bought a new stake in Lindsay during the 4th quarter worth approximately $51,000. Tompkins Financial Corp boosted its stake in shares of Lindsay by 66.7% in the 1st quarter. Tompkins Financial Corp now owns 500 shares of the industrial products company’s stock worth $59,000 after buying an additional 200 shares during the last quarter. CWM LLC boosted its stake in shares of Lindsay by 129.6% in the 4th quarter. CWM LLC now owns 489 shares of the industrial products company’s stock worth $63,000 after buying an additional 276 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of Lindsay by 23.6% in the 3rd quarter. Royal Bank of Canada now owns 514 shares of the industrial products company’s stock worth $74,000 after buying an additional 98 shares during the last quarter. Institutional investors and hedge funds 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.