Lindsay (NYSE:LNN) Upgraded at StockNews.com

StockNews.com upgraded shares of Lindsay (NYSE:LNN) from a hold rating to a buy rating in a research report sent to investors on Wednesday.

Separately, Stifel Nicolaus upped their price target on Lindsay from $126.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, January 8th.

Lindsay Stock Down 1.2 %

Shares of Lindsay stock opened at $126.40 on Wednesday. The stock’s fifty day moving average is $132.05 and its 200-day moving average is $126.26. The firm has a market capitalization of $1.37 billion, a PE ratio of 20.29 and a beta of 0.70. The company has a quick ratio of 2.65, a current ratio of 3.87 and a debt-to-equity ratio of 0.24. Lindsay has a 12-month low of $109.27 and a 12-month high of $140.27.

Lindsay (NYSE:LNN) last announced its earnings results on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.18. The company had revenue of $166.30 million for the quarter, compared to analyst estimates of $169.78 million. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. Lindsay’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.36 earnings per share. Equities analysts anticipate that Lindsay will post 5.82 earnings per share for the current year.

Lindsay Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.36 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.44 dividend on an annualized basis and a yield of 1.14%. Lindsay’s dividend payout ratio (DPR) is currently 23.11%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of LNN. AlphaQuest LLC bought a new stake in shares of Lindsay during the 4th quarter worth about $32,000. GAMMA Investing LLC boosted its stake in shares of Lindsay by 90.3% during the 4th quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 131 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of Lindsay by 10.3% during the 4th quarter. Global Retirement Partners LLC now owns 925 shares of the industrial products company’s stock worth $109,000 after acquiring an additional 86 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Lindsay by 73.1% during the 4th quarter. Van ECK Associates Corp now owns 1,475 shares of the industrial products company’s stock worth $175,000 after acquiring an additional 623 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Lindsay by 729.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,709 shares of the industrial products company’s stock worth $202,000 after acquiring an additional 1,503 shares in the last quarter. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Lindsay Company Profile

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.