StockNews.com Downgrades Lindsay (NYSE:LNN) to Hold

Lindsay (NYSE:LNN) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Separately, Stifel Nicolaus raised their target price on Lindsay from $126.00 to $130.00 and gave the company a “hold” rating in a research note on Wednesday, January 8th.

Lindsay Trading Up 3.5 %

NYSE LNN opened at $137.71 on Monday. Lindsay has a fifty-two week low of $109.27 and a fifty-two week high of $140.26. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.65 and a current ratio of 3.87. The stock has a 50 day simple moving average of $128.25 and a two-hundred day simple moving average of $124.65. The stock has a market cap of $1.50 billion, a P/E ratio of 22.10 and a beta of 0.67.

Lindsay (NYSE:LNN) last released its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.18. The business had revenue of $166.30 million during the quarter, compared to analysts’ expectations of $169.78 million. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business posted $1.36 EPS. On average, analysts forecast that Lindsay will post 5.82 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Lindsay by 7.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,245 shares of the industrial products company’s stock valued at $4,288,000 after buying an additional 2,413 shares in the last quarter. Raiffeisen Bank International AG bought a new position in Lindsay during the 4th quarter valued at approximately $2,885,000. Millennium Management LLC increased its position in Lindsay by 80.0% during the 4th quarter. Millennium Management LLC now owns 8,636 shares of the industrial products company’s stock valued at $1,022,000 after buying an additional 3,838 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Lindsay by 4.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,166 shares of the industrial products company’s stock valued at $729,000 after buying an additional 259 shares in the last quarter. Finally, Graham Capital Management L.P. bought a new position in Lindsay during the 4th quarter valued at approximately $331,000. Institutional investors own 89.94% of the company’s stock.

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.