Stifel Nicolaus Issues Positive Forecast for Lindsay (NYSE:LNN) Stock Price

Lindsay (NYSE:LNN) had its price target increased by equities researchers at Stifel Nicolaus from $130.00 to $134.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 11.90% from the company’s current price.

Separately, StockNews.com downgraded shares of Lindsay from a “buy” rating to a “hold” rating in a research report on Thursday.

Lindsay Trading Down 7.4 %

Lindsay stock opened at $119.75 on Friday. Lindsay has a one year low of $109.27 and a one year high of $140.27. The business’s fifty day moving average is $131.04 and its 200 day moving average is $127.01. The stock has a market capitalization of $1.30 billion, a PE ratio of 19.22 and a beta of 0.72. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.65.

Lindsay (NYSE:LNN) last announced its quarterly earnings results on Thursday, April 3rd. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.55. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The firm had revenue of $187.10 million for the quarter, compared to the consensus estimate of $174.50 million. During the same quarter last year, the firm posted $1.64 EPS. The business’s quarterly revenue was up 23.5% compared to the same quarter last year. On average, sell-side analysts predict that Lindsay will post 5.82 EPS for the current year.

Hedge Funds Weigh In On Lindsay

Several institutional investors have recently made changes to their positions in LNN. AlphaQuest LLC bought a new stake in Lindsay during the fourth quarter valued at approximately $32,000. GAMMA Investing LLC grew its position 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 valued at $33,000 after acquiring an additional 131 shares during the period. Global Retirement Partners LLC increased its stake in shares of Lindsay by 10.3% in the 4th quarter. Global Retirement Partners LLC now owns 925 shares of the industrial products company’s stock worth $109,000 after purchasing an additional 86 shares in the last quarter. Van ECK Associates Corp raised its holdings in Lindsay by 73.1% in the 4th quarter. Van ECK Associates Corp now owns 1,475 shares of the industrial products company’s stock worth $175,000 after purchasing an additional 623 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in Lindsay by 729.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,709 shares of the industrial products company’s stock valued at $202,000 after purchasing an additional 1,503 shares in the last quarter. Institutional investors 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.