StockNews.com Upgrades Lindsay (NYSE:LNN) to Buy

StockNews.com upgraded shares of Lindsay (NYSE:LNN) from a hold rating to a buy rating in a report published on Tuesday.

Lindsay Price Performance

Lindsay stock opened at $119.72 on Tuesday. The stock has a market cap of $1.30 billion, a P/E ratio of 19.89 and a beta of 0.66. The company has a fifty day simple moving average of $125.54 and a 200-day simple moving average of $121.86. The company has a current ratio of 3.92, a quick ratio of 2.69 and a debt-to-equity ratio of 0.24. Lindsay has a 12-month low of $109.27 and a 12-month high of $135.20.

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

Lindsay Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend was Friday, November 15th. Lindsay’s payout ratio is 23.92%.

Institutional Investors Weigh In On Lindsay

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE grew its holdings in shares of Lindsay by 45.9% during the third quarter. US Bancorp DE now owns 267 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 84 shares during the last quarter. GAMMA Investing LLC grew its stake in 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 during the last quarter. CWM LLC increased its position in Lindsay by 16.8% during the third quarter. CWM LLC now owns 638 shares of the industrial products company’s stock worth $80,000 after buying an additional 92 shares during the period. Intech Investment Management LLC purchased a new stake in Lindsay in the second quarter valued at approximately $241,000. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Lindsay by 1,283.5% in the second quarter. Point72 Asset Management L.P. now owns 2,767 shares of the industrial products company’s stock valued at $340,000 after acquiring an additional 2,567 shares during the period. 89.94% of the stock is owned by hedge funds and other institutional investors.

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.