Lindsay (LNN) Upgraded to Hold by Zacks Investment Research

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Lindsay (NYSE:LNN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “Lindsay remains focused on simplifying its business in order to improve productivity. Lindsay anticipates its irrigation operating margin performance in the United States to benefit from the strength and growth of technology products. Lindsay’s infrastructure business continues to generate growth on the back of strong order activity for the Road Zipper projects. Further, demand for the company’s transportation safety products continues to gain traction on the back of population growth and need for improved road safety. However, considerable duration required for completing Road Zipper projects is a concern. Lower backlog, constrained North American agricultural market, high steel prices remain concerns. The company has underperformed the industry over the past year.”

Several other brokerages have also commented on LNN. Sidoti lowered shares of Lindsay from a “buy” rating to a “neutral” rating and set a $111.00 price target for the company. in a research report on Tuesday, November 13th. Boenning Scattergood reaffirmed a “buy” rating and set a $132.00 price target on shares of Lindsay in a research report on Tuesday, January 8th. ValuEngine lowered shares of Lindsay from a “buy” rating to a “hold” rating in a research report on Thursday, October 18th. Finally, TheStreet lowered shares of Lindsay from a “b” rating to a “c+” rating in a research report on Tuesday, January 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $102.60.

Shares of LNN stock opened at $88.50 on Tuesday. Lindsay has a one year low of $83.57 and a one year high of $109.50. The company has a quick ratio of 2.85, a current ratio of 3.92 and a debt-to-equity ratio of 0.42. The company has a market cap of $954.56 million, a P/E ratio of 30.10, a P/E/G ratio of 1.77 and a beta of 0.29.

Lindsay (NYSE:LNN) last issued its quarterly earnings results on Tuesday, January 8th. The industrial products company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.09). Lindsay had a return on equity of 11.80% and a net margin of 3.42%. The company had revenue of $111.95 million for the quarter, compared to analyst estimates of $113.57 million. During the same period last year, the company posted $0.30 EPS. The business’s revenue for the quarter was down 10.1% on a year-over-year basis. Research analysts anticipate that Lindsay will post 2.74 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pearl River Capital LLC purchased a new stake in Lindsay during the fourth quarter worth approximately $87,000. Bessemer Group Inc. purchased a new stake in Lindsay during the fourth quarter worth approximately $90,000. Keybank National Association OH purchased a new stake in Lindsay during the third quarter worth approximately $200,000. Everence Capital Management Inc. purchased a new stake in Lindsay during the fourth quarter worth approximately $211,000. Finally, PEAK6 Investments LLC purchased a new stake in Lindsay during the fourth quarter worth approximately $305,000. Institutional investors own 98.61% of the company’s stock.

Lindsay Company Profile

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.

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