Lindsay (NYSE:LNN) Upgraded at StockNews.com

Lindsay (NYSE:LNN) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

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

Lindsay Stock Performance

Shares of NYSE:LNN traded down $0.69 on Wednesday, hitting $128.60. 56,469 shares of the company were exchanged, compared to its average volume of 83,512. The company’s 50 day moving average price is $131.88 and its two-hundred day moving average price is $126.23. Lindsay has a one year low of $109.27 and a one year high of $140.27. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.65 and a current ratio of 3.87. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 20.64 and a beta of 0.70.

Lindsay (NYSE:LNN) last posted its quarterly earnings data 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. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The company had revenue of $166.30 million for the quarter, compared to the consensus estimate of $169.78 million. During the same quarter in the previous year, the firm posted $1.36 EPS. The business’s revenue was up 3.0% compared to the same quarter last year. Research analysts expect that Lindsay will post 5.82 earnings per share for the current year.

Hedge Funds Weigh In On Lindsay

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LNN. Lightrock Netherlands B.V. acquired a new position in Lindsay in the fourth quarter valued at about $11,396,000. T. Rowe Price Investment Management Inc. boosted its position in Lindsay by 37.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 331,027 shares of the industrial products company’s stock valued at $39,164,000 after buying an additional 89,373 shares in the last quarter. SG Americas Securities LLC boosted its position in Lindsay by 746.5% in the fourth quarter. SG Americas Securities LLC now owns 52,138 shares of the industrial products company’s stock valued at $6,168,000 after buying an additional 45,979 shares in the last quarter. Jennison Associates LLC acquired a new position in Lindsay in the fourth quarter valued at about $5,088,000. Finally, Wellington Management Group LLP boosted its position in Lindsay by 35.4% in the third quarter. Wellington Management Group LLP now owns 138,170 shares of the industrial products company’s stock valued at $17,222,000 after buying an additional 36,128 shares in the last quarter. 89.94% of the stock is currently owned by institutional investors and hedge funds.

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.