Lindsay (NYSE:LNN) Shares Gap Up – Time to Buy?

Lindsay Corporation (NYSE:LNN) shares gapped up prior to trading on Friday . The stock had previously closed at $120.53, but opened at $124.22. Lindsay shares last traded at $124.2170, with a volume of 4,835 shares.

Wall Street Analyst Weigh In

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

Lindsay Stock Up 0.1%

The firm has a market cap of $1.30 billion, a PE ratio of 22.93 and a beta of 0.72. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.15 and a current ratio of 3.02. The company’s 50-day simple moving average is $111.65 and its two-hundred day simple moving average is $119.33.

Lindsay (NYSE:LNN) last released its quarterly earnings data 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). The firm had revenue of $157.72 million during the quarter, compared to analysts’ expectations of $163.52 million. Lindsay had a net margin of 9.25% and a return on equity of 11.28%. Lindsay’s revenue was down 15.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.44 EPS. On average, analysts predict that Lindsay Corporation will post 5.16 earnings per share for the current fiscal year.

Lindsay Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders 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 dividend on an annualized basis and a yield of 1.2%. Lindsay’s dividend payout ratio is presently 27.11%.

Institutional Investors Weigh In On Lindsay

A number of large investors have recently made changes to their positions in the business. Nuance Investments LLC raised its holdings in shares of Lindsay by 293.5% during the fourth quarter. Nuance Investments LLC now owns 178,571 shares of the industrial products company’s stock valued at $21,048,000 after acquiring an additional 133,190 shares in the last quarter. Wellington Management Group LLP purchased a new position in Lindsay during the 4th quarter valued at $13,994,000. Amundi increased its position in Lindsay by 39.4% during the 4th quarter. Amundi now owns 269,817 shares of the industrial products company’s stock valued at $31,843,000 after purchasing an additional 76,292 shares during the period. Invesco Ltd. raised its holdings in Lindsay by 32.6% in the 3rd quarter. Invesco Ltd. now owns 205,985 shares of the industrial products company’s stock worth $28,953,000 after purchasing an additional 50,671 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in Lindsay in the 2nd quarter worth $6,670,000. 89.94% of the stock is currently owned by institutional investors.

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.