Lindsay (NYSE:LNN) Price Target Raised to $130.00

Lindsay (NYSE:LNN) had its price objective increased by Stifel Nicolaus from $126.00 to $130.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a hold rating on the industrial products company’s stock.

Separately, StockNews.com raised Lindsay from a “hold” rating to a “buy” rating in a research note on Tuesday.

Lindsay Trading Down 0.3 %

Shares of Lindsay stock opened at $122.92 on Wednesday. The company’s fifty day moving average price is $125.69 and its two-hundred day moving average price is $121.88. The firm has a market capitalization of $1.33 billion, a PE ratio of 20.42 and a beta of 0.66. Lindsay has a 52-week low of $109.27 and a 52-week high of $135.20. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.92 and a quick ratio of 2.69.

Lindsay (NYSE:LNN) last posted its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.18. The firm had revenue of $166.30 million during the quarter, compared to analyst estimates of $169.78 million. Lindsay had a net margin of 10.91% and a return on equity of 12.86%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.36 earnings per share. On average, analysts expect that Lindsay will post 5.64 EPS for the current year.

Lindsay Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.17%. Lindsay’s dividend payout ratio is 23.11%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. US Bancorp DE increased its holdings in Lindsay by 45.9% during the 3rd quarter. US Bancorp DE now owns 267 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 84 shares in the last quarter. CWM LLC grew its holdings in shares of Lindsay by 16.8% during the third quarter. CWM LLC now owns 638 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 92 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Lindsay by 90.3% in the fourth quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company’s stock valued at $33,000 after buying an additional 131 shares in the last quarter. Quadrature Capital Ltd raised its holdings in shares of Lindsay by 6.8% in the third quarter. Quadrature Capital Ltd now owns 3,140 shares of the industrial products company’s stock valued at $392,000 after buying an additional 200 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Lindsay by 3.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,278 shares of the industrial products company’s stock worth $1,263,000 after buying an additional 347 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.