Stifel Nicolaus Raises Lindsay Manufacturing (LNN) Price Target to $94.00

Lindsay Manufacturing (NYSE:LNN) had its target price raised by Stifel Nicolaus from $92.00 to $94.00 in a research report report published on Monday morning. Stifel Nicolaus currently has a hold rating on the industrial products company’s stock.

Several other analysts also recently commented on the stock. Boenning Scattergood upgraded shares of Lindsay Manufacturing from a neutral rating to an outperform rating in a report on Thursday, March 29th. TheStreet downgraded shares of Lindsay Manufacturing from a b- rating to a c rating in a report on Tuesday, January 9th. Finally, Zacks Investment Research downgraded shares of Lindsay Manufacturing from a hold rating to a sell rating in a report on Wednesday, December 13th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $96.00.

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Shares of LNN stock opened at $87.11 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.01 and a current ratio of 3.00. The company has a market cap of $908.42, a price-to-earnings ratio of 34.30 and a beta of 0.31. Lindsay Manufacturing has a 52 week low of $82.31 and a 52 week high of $100.40.

Lindsay Manufacturing (NYSE:LNN) last announced its earnings results on Thursday, March 29th. The industrial products company reported $0.56 EPS for the quarter, hitting the consensus estimate of $0.56. The firm had revenue of $130.30 million for the quarter, compared to the consensus estimate of $133.05 million. Lindsay Manufacturing had a net margin of 4.13% and a return on equity of 9.84%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the company posted $0.47 EPS. analysts forecast that Lindsay Manufacturing will post 3.08 EPS for the current year.

In other news, Director Bill Welsh sold 2,200 shares of Lindsay Manufacturing stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $90.00, for a total value of $198,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.10% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of LNN. BNP Paribas Arbitrage SA raised its holdings in shares of Lindsay Manufacturing by 41.7% in the third quarter. BNP Paribas Arbitrage SA now owns 6,434 shares of the industrial products company’s stock valued at $591,000 after purchasing an additional 1,895 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its holdings in shares of Lindsay Manufacturing by 43.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 4,870 shares of the industrial products company’s stock valued at $448,000 after purchasing an additional 1,480 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Lindsay Manufacturing by 24.3% in the third quarter. Advisors Asset Management Inc. now owns 5,307 shares of the industrial products company’s stock valued at $488,000 after purchasing an additional 1,037 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Lindsay Manufacturing by 1.1% in the third quarter. Ameriprise Financial Inc. now owns 58,225 shares of the industrial products company’s stock valued at $5,350,000 after purchasing an additional 645 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Lindsay Manufacturing in the third quarter valued at approximately $246,000. Institutional investors own 92.02% of the company’s stock.

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About Lindsay Manufacturing

Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. The company's Irrigation segment manufactures and markets center pivot, lateral move irrigation systems, and irrigation controls under the Zimmatic brand; hose reel travelers under the Perrot and Greenfield brands; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems under the GrowSmart brand.

Analyst Recommendations for Lindsay Manufacturing (NYSE:LNN)

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