Lindsay (NYSE:LNN) Upgraded to “Buy” at StockNews.com

Lindsay (NYSE:LNN) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

Lindsay Stock Up 1.8 %

NYSE:LNN traded up $2.08 during trading hours on Tuesday, reaching $119.72. 137,065 shares of the stock were exchanged, compared to its average volume of 80,666. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.92 and a quick ratio of 2.69. Lindsay has a twelve month low of $109.27 and a twelve month high of $135.20. The stock has a market cap of $1.30 billion, a PE ratio of 19.89 and a beta of 0.66. The firm has a 50 day moving average of $125.54 and a 200 day moving average of $121.86.

Lindsay (NYSE:LNN) last issued its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.39 by $0.18. The firm had revenue of $166.30 million during the quarter, compared to analysts’ expectations of $169.78 million. Lindsay had a return on equity of 12.86% and a net margin of 10.91%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.36 earnings per share. On average, equities analysts expect that Lindsay will post 5.64 earnings per share for the current year.

Institutional Trading of Lindsay

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its position in shares of Lindsay by 90.3% during the 4th quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company’s stock worth $33,000 after buying an additional 131 shares in the last quarter. Barclays PLC boosted its position in Lindsay by 248.8% in the third quarter. Barclays PLC now owns 19,607 shares of the industrial products company’s stock worth $2,446,000 after purchasing an additional 13,986 shares during the last quarter. Pier Capital LLC grew its stake in Lindsay by 19.1% in the 3rd quarter. Pier Capital LLC now owns 71,246 shares of the industrial products company’s stock valued at $8,880,000 after purchasing an additional 11,446 shares during the period. Wellington Management Group LLP increased its position in shares of Lindsay by 35.4% during the 3rd quarter. Wellington Management Group LLP now owns 138,170 shares of the industrial products company’s stock valued at $17,222,000 after purchasing an additional 36,128 shares during the last quarter. Finally, Quadrature Capital Ltd raised its stake in shares of Lindsay by 6.8% during the 3rd quarter. Quadrature Capital Ltd now owns 3,140 shares of the industrial products company’s stock worth $392,000 after purchasing an additional 200 shares during the period. 89.94% of the stock is currently owned by institutional investors and hedge funds.

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.