Lindsay (NYSE:LNN) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Shares of Lindsay Corporation (NYSE:LNN) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $119.23 and traded as high as $119.27. Lindsay shares last traded at $116.4310, with a volume of 226,503 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on LNN shares. Zacks Research upgraded shares of Lindsay from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Stifel Nicolaus cut their target price on shares of Lindsay from $128.00 to $113.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. Finally, Weiss Ratings cut shares of Lindsay from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 21st. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $113.00.

Lindsay Stock Performance

The company has a debt-to-equity ratio of 0.23, a current ratio of 3.02 and a quick ratio of 2.15. The company has a fifty day moving average price of $110.81 and a 200 day moving average price of $119.26. The stock has a market cap of $1.24 billion, a P/E ratio of 21.78 and a beta of 0.72.

Lindsay (NYSE:LNN) last issued its earnings results on Thursday, April 2nd. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.45). Lindsay had a return on equity of 11.28% and a net margin of 9.25%.The firm had revenue of $157.72 million during the quarter, compared to the consensus estimate of $163.52 million. During the same quarter in the prior year, the business earned $2.44 earnings per share. Lindsay’s revenue for the quarter was down 15.7% on a year-over-year basis. On average, equities analysts expect that Lindsay Corporation will post 5.16 EPS for the current year.

Lindsay Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.48 annualized dividend and a dividend yield of 1.2%. Lindsay’s payout ratio is presently 27.11%.

Hedge Funds Weigh In On Lindsay

A number of hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC lifted its holdings in shares of Lindsay by 1,295.8% in the first quarter. Parallel Advisors LLC now owns 335 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 311 shares in the last quarter. Bank of America Corp DE grew its holdings in Lindsay by 1.4% during the first quarter. Bank of America Corp DE now owns 32,046 shares of the industrial products company’s stock worth $3,816,000 after buying an additional 430 shares in the last quarter. Quantinno Capital Management LP raised its position in Lindsay by 63.5% in the 1st quarter. Quantinno Capital Management LP now owns 7,596 shares of the industrial products company’s stock valued at $904,000 after buying an additional 2,950 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Lindsay by 2.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 11,600 shares of the industrial products company’s stock valued at $1,381,000 after buying an additional 243 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in Lindsay by 161.9% during the 1st quarter. Sei Investments Co. now owns 16,948 shares of the industrial products company’s stock valued at $2,018,000 after acquiring an additional 10,477 shares in the last quarter. Institutional investors and hedge funds own 89.94% of the company’s stock.

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.