Lindsay (NYSE:LNN) Stock Rating Upgraded by Zacks Research

Lindsay (NYSE:LNN) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other brokerages have also recently commented on LNN. Stifel Nicolaus lowered their price objective 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. Weiss Ratings cut Lindsay from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 21st. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $113.00.

Lindsay Stock Performance

NYSE:LNN opened at $114.74 on Monday. The firm’s fifty day moving average price is $109.97 and its 200 day moving average price is $119.21. Lindsay has a 1-year low of $97.27 and a 1-year high of $150.96. 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 firm has a market cap of $1.19 billion, a price-to-earnings ratio of 21.02 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 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 during the quarter, compared to analysts’ expectations of $163.52 million. During the same period in the previous year, the firm earned $2.44 EPS. The firm’s revenue was down 15.7% on a year-over-year basis. On average, sell-side analysts expect that Lindsay will post 5.19 EPS for the current year.

Hedge Funds Weigh In On Lindsay

Several institutional investors have recently added to or reduced their stakes in LNN. Nuance Investments LLC lifted its position in Lindsay by 293.5% during the fourth quarter. Nuance Investments LLC now owns 178,571 shares of the industrial products company’s stock worth $21,048,000 after buying an additional 133,190 shares during the period. Wellington Management Group LLP acquired a new position in shares of Lindsay during the 4th quarter valued at about $13,994,000. Amundi lifted its holdings in shares of Lindsay by 39.4% during the 4th quarter. Amundi now owns 269,817 shares of the industrial products company’s stock worth $31,843,000 after acquiring an additional 76,292 shares during the period. Invesco Ltd. lifted its holdings in shares of Lindsay by 32.6% during the 3rd quarter. Invesco Ltd. now owns 205,985 shares of the industrial products company’s stock worth $28,953,000 after acquiring an additional 50,671 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of Lindsay in the second quarter worth approximately $6,670,000. 89.94% of the stock is currently owned by institutional investors and hedge funds.

About Lindsay

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.