Lindsay (NYSE:LNN) Coverage Initiated at Roth Capital

Stock analysts at Roth Capital started coverage on shares of Lindsay (NYSE:LNNGet Rating) in a report released on Friday, Briefing.com reports. The firm set a “neutral” rating and a $135.00 price target on the industrial products company’s stock. Roth Capital’s price target points to a potential downside of 0.02% from the company’s previous close.

Separately, StockNews.com initiated coverage on Lindsay in a research note on Thursday, March 31st. They issued a “hold” rating for the company.

NYSE:LNN opened at $135.03 on Friday. The stock has a 50 day moving average of $138.15 and a two-hundred day moving average of $140.82. Lindsay has a 12 month low of $118.28 and a 12 month high of $179.26. The firm has a market cap of $1.48 billion, a P/E ratio of 32.30 and a beta of 0.53. The company has a current ratio of 2.79, a quick ratio of 1.63 and a debt-to-equity ratio of 0.32.

Lindsay (NYSE:LNNGet Rating) last issued its quarterly earnings results on Tuesday, April 5th. The industrial products company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.31 by $0.01. Lindsay had a return on equity of 16.04% and a net margin of 6.76%. The firm had revenue of $200.10 million during the quarter, compared to analysts’ expectations of $187.09 million. During the same period in the previous year, the business earned $1.08 earnings per share. The firm’s revenue for the quarter was up 39.3% on a year-over-year basis. On average, research analysts forecast that Lindsay will post 5.05 earnings per share for the current year.

In other news, insider James Scott Marion sold 1,945 shares of the company’s stock in a transaction that occurred on Friday, April 8th. The stock was sold at an average price of $146.01, for a total value of $283,989.45. Following the completion of the sale, the insider now directly owns 4,520 shares in the company, valued at $659,965.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.91% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. Advisor Group Holdings Inc. grew its position in shares of Lindsay by 28.7% in the third quarter. Advisor Group Holdings Inc. now owns 691 shares of the industrial products company’s stock valued at $103,000 after purchasing an additional 154 shares in the last quarter. Royal Bank of Canada grew its position in Lindsay by 84.1% in the second quarter. Royal Bank of Canada now owns 1,031 shares of the industrial products company’s stock worth $170,000 after acquiring an additional 471 shares during the period. Captrust Financial Advisors grew its position in Lindsay by 21.3% in the first quarter. Captrust Financial Advisors now owns 1,134 shares of the industrial products company’s stock worth $178,000 after acquiring an additional 199 shares during the period. Sei Investments Co. purchased a new position in Lindsay in the first quarter worth approximately $209,000. Finally, Annex Advisory Services LLC purchased a new position in Lindsay in the first quarter worth approximately $223,000. Institutional investors and hedge funds own 85.44% of the company’s stock.

Lindsay Company Profile (Get Rating)

Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. The company 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 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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