Lindsay Co. (NYSE:LNN) Receives $138.33 Consensus Target Price from Analysts

Lindsay Co. (NYSE:LNN) has earned an average rating of “Moderate Buy” from the four research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $138.33.

LNN has been the subject of several research reports. Northcoast Research upgraded shares of Lindsay from a “neutral” rating to a “buy” rating and set a $142.00 price objective for the company in a report on Friday, April 5th. StockNews.com cut shares of Lindsay from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Finally, TheStreet lowered shares of Lindsay from a “b-” rating to a “c+” rating in a report on Tuesday, March 5th.

Hedge Funds Weigh In On Lindsay

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Lindsay by 7.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,459 shares of the industrial products company’s stock valued at $643,000 after acquiring an additional 401 shares in the last quarter. Rodgers Brothers Inc. grew its position in Lindsay by 0.4% during the 1st quarter. Rodgers Brothers Inc. now owns 49,760 shares of the industrial products company’s stock valued at $5,855,000 after purchasing an additional 200 shares during the last quarter. EntryPoint Capital LLC bought a new stake in Lindsay during the 1st quarter valued at about $145,000. UniSuper Management Pty Ltd purchased a new position in Lindsay in the first quarter worth about $297,000. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Lindsay in the first quarter worth approximately $482,000. Institutional investors own 89.94% of the company’s stock.

Lindsay Stock Down 0.1 %

NYSE LNN opened at $113.98 on Monday. The business’s 50-day moving average is $116.51 and its 200 day moving average is $122.49. The stock has a market capitalization of $1.26 billion, a PE ratio of 18.18 and a beta of 0.63. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.58. Lindsay has a 1 year low of $106.46 and a 1 year high of $137.31.

Lindsay (NYSE:LNN) last posted its earnings results on Thursday, April 4th. The industrial products company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.12. Lindsay had a return on equity of 15.04% and a net margin of 10.74%. The firm had revenue of $151.50 million for the quarter, compared to analysts’ expectations of $172.06 million. During the same period in the previous year, the firm earned $1.63 earnings per share. The business’s revenue was down 8.8% compared to the same quarter last year. Sell-side analysts forecast that Lindsay will post 5.3 earnings per share for the current year.

Lindsay Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Thursday, May 16th. Lindsay’s dividend payout ratio is presently 22.33%.

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.