Stifel Nicolaus Lowers Lindsay (NYSE:LNN) Price Target to $113.00

Lindsay (NYSE:LNN) had its price target dropped by equities research analysts at Stifel Nicolaus from $128.00 to $113.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ price target points to a potential upside of 9.77% from the company’s previous close.

Lindsay Stock Down 0.1%

Shares of NYSE:LNN opened at $102.94 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.43 and a current ratio of 3.02. Lindsay has a 52-week low of $102.87 and a 52-week high of $150.96. The business’s 50 day simple moving average is $126.73 and its two-hundred day simple moving average is $124.17. The firm has a market cap of $1.08 billion, a P/E ratio of 18.85 and a beta of 0.82.

Lindsay (NYSE:LNN) last released its quarterly earnings data on Thursday, April 2nd. The industrial products company reported $1.15 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.45). Lindsay had a net margin of 9.25% and a return on equity of 11.28%. The firm had revenue of $157.72 million for the quarter, compared to the consensus estimate of $163.52 million. During the same quarter in the prior year, the firm earned $2.44 EPS. The company’s revenue was down 15.7% compared to the same quarter last year. As a group, research analysts forecast that Lindsay will post 5.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Lindsay

Several hedge funds and other institutional investors have recently made changes to their positions in LNN. Chatham Capital Group Inc. acquired a new position in Lindsay during the 3rd quarter valued at about $1,725,000. SG Americas Securities LLC raised its stake in shares of Lindsay by 505.3% in the third quarter. SG Americas Securities LLC now owns 16,518 shares of the industrial products company’s stock worth $2,322,000 after purchasing an additional 13,789 shares during the last quarter. Amundi lifted its holdings in shares of Lindsay by 48.8% in the second quarter. Amundi now owns 210,043 shares of the industrial products company’s stock valued at $28,286,000 after purchasing an additional 68,863 shares in the last quarter. Pier Capital LLC lifted its holdings in shares of Lindsay by 34.0% in the third quarter. Pier Capital LLC now owns 71,799 shares of the industrial products company’s stock valued at $10,092,000 after purchasing an additional 18,205 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Lindsay by 286.1% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 9,888 shares of the industrial products company’s stock valued at $1,390,000 after buying an additional 7,327 shares during the last quarter. 89.94% of the stock is owned by institutional investors.

Lindsay Company Profile

Lindsay Corporation (NYSE: LNN) is a U.S.-based manufacturer of agricultural irrigation and infrastructure products. Headquartered in Omaha, Nebraska, the company has built a reputation for designing and producing center pivot and lateral?move irrigation systems under the Zimmatic brand. These systems feature advanced controls, precision sprinklers and automated monitoring technology that help growers optimize water use, improve crop yields and enhance sustainability in a variety of row-crop, specialty crop and forage operations.

Beyond its core irrigation business, Lindsay operates an infrastructure segment that delivers engineered products and services for water and roadway management.