A number of other analysts have also weighed in on the stock. Piper Jaffray Companies restated a hold rating and issued a $80.00 target price on shares of Lindsay Corporation in a research report on Sunday, September 10th. BidaskClub lowered shares of Lindsay Corporation from a hold rating to a sell rating in a research report on Saturday, August 26th. Stifel Nicolaus raised their target price on shares of Lindsay Corporation from $76.00 to $90.00 and gave the company a hold rating in a research report on Friday, October 13th. Zacks Investment Research lowered shares of Lindsay Corporation from a buy rating to a hold rating in a research report on Friday, July 28th. Finally, Boenning Scattergood reaffirmed a hold rating on shares of Lindsay Corporation in a research note on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $95.00.
Shares of Lindsay Corporation (LNN) opened at $88.15 on Thursday. Lindsay Corporation has a 52-week low of $72.85 and a 52-week high of $95.04. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.18 and a quick ratio of 2.25. The firm has a market cap of $931.53, a P/E ratio of 40.89, a price-to-earnings-growth ratio of 1.99 and a beta of 0.49.
Lindsay Corporation (NYSE:LNN) last issued its earnings results on Thursday, October 12th. The industrial products company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.18. Lindsay Corporation had a net margin of 4.47% and a return on equity of 8.95%. The firm had revenue of $131.94 million for the quarter, compared to analyst estimates of $134.83 million. equities research analysts expect that Lindsay Corporation will post 2.95 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Wednesday, November 15th. Lindsay Corporation’s payout ratio is currently 55.30%.
Several hedge funds have recently added to or reduced their stakes in LNN. Flinton Capital Management LLC raised its stake in shares of Lindsay Corporation by 72.7% during the second quarter. Flinton Capital Management LLC now owns 1,292 shares of the industrial products company’s stock valued at $115,000 after acquiring an additional 544 shares during the last quarter. Acrospire Investment Management LLC raised its stake in shares of Lindsay Corporation by 467.1% during the second quarter. Acrospire Investment Management LLC now owns 1,429 shares of the industrial products company’s stock valued at $128,000 after acquiring an additional 1,177 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Lindsay Corporation by 27.2% during the second quarter. Van ECK Associates Corp now owns 1,692 shares of the industrial products company’s stock valued at $151,000 after acquiring an additional 362 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of Lindsay Corporation by 79.1% during the second quarter. State of Alaska Department of Revenue now owns 2,095 shares of the industrial products company’s stock valued at $186,000 after acquiring an additional 925 shares during the last quarter. Finally, Piedmont Investment Advisors LLC bought a new position in shares of Lindsay Corporation during the second quarter valued at $205,000. 96.96% of the stock is owned by hedge funds and other institutional investors.
About Lindsay Corporation
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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