Lindsay (NYSE:LNN) Raised to Buy at StockNews.com

Lindsay (NYSE:LNN) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

Separately, Stifel Nicolaus raised their target price on Lindsay from $130.00 to $134.00 and gave the stock a “hold” rating in a research note on Friday, April 4th.

Lindsay Trading Up 3.1 %

Lindsay stock opened at $127.30 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.65 and a current ratio of 3.87. Lindsay has a fifty-two week low of $109.27 and a fifty-two week high of $140.27. The stock has a market cap of $1.38 billion, a P/E ratio of 20.43 and a beta of 0.72. The firm’s fifty day moving average price is $129.27 and its 200-day moving average price is $126.89.

Lindsay (NYSE:LNN) last posted its quarterly earnings data on Thursday, April 3rd. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.55. The firm had revenue of $187.10 million during the quarter, compared to analysts’ expectations of $174.50 million. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. The company’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.64 EPS. Equities research analysts forecast that Lindsay will post 5.82 earnings per share for the current fiscal year.

Institutional Trading of Lindsay

Institutional investors and hedge funds have recently bought and sold shares of the company. AlphaQuest LLC purchased a new stake in shares of Lindsay during the fourth quarter valued at $32,000. GAMMA Investing LLC boosted its holdings 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 last quarter. Global Retirement Partners LLC grew its stake in shares of Lindsay by 10.3% in the fourth 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 during the period. Van ECK Associates Corp raised its holdings in shares of Lindsay by 73.1% during the fourth quarter. Van ECK Associates Corp now owns 1,475 shares of the industrial products company’s stock valued at $175,000 after purchasing an additional 623 shares during the last quarter. 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 during the period. 89.94% of the stock is currently owned by institutional investors.

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.