Lindsay (NYSE:LNN) Price Target Raised to $130.00

Lindsay (NYSE:LNN) had its target price increased by Stifel Nicolaus from $126.00 to $130.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a hold rating on the industrial products company’s stock.

Separately, StockNews.com upgraded Lindsay from a “hold” rating to a “buy” rating in a research note on Tuesday.

Lindsay Trading Down 0.3 %

NYSE:LNN opened at $122.92 on Wednesday. The stock’s 50-day moving average is $125.69 and its two-hundred day moving average is $121.88. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.92 and a quick ratio of 2.69. The stock has a market cap of $1.33 billion, a PE ratio of 20.42 and a beta of 0.66. Lindsay has a fifty-two week low of $109.27 and a fifty-two week 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 for the quarter, beating the consensus estimate of $1.39 by $0.18. The firm had revenue of $166.30 million for the quarter, compared to analyst estimates of $169.78 million. Lindsay had a net margin of 10.91% and a return on equity of 12.86%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.36 EPS. As a group, equities research analysts forecast that Lindsay will post 5.64 earnings per share for the current fiscal year.

Lindsay Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.17%. Lindsay’s payout ratio is currently 23.11%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of 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 purchasing an additional 131 shares during the last quarter. Barclays PLC boosted its holdings in Lindsay by 248.8% in the 3rd quarter. Barclays PLC now owns 19,607 shares of the industrial products company’s stock valued at $2,446,000 after purchasing an additional 13,986 shares during the period. Pier Capital LLC grew its position in Lindsay by 19.1% in the 3rd quarter. Pier Capital LLC now owns 71,246 shares of the industrial products company’s stock worth $8,880,000 after purchasing an additional 11,446 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Lindsay by 35.4% during the 3rd quarter. Wellington Management Group LLP now owns 138,170 shares of the industrial products company’s stock worth $17,222,000 after purchasing an additional 36,128 shares during the period. Finally, Quadrature Capital Ltd raised its position in shares of Lindsay by 6.8% during the third quarter. Quadrature Capital Ltd now owns 3,140 shares of the industrial products company’s stock valued at $392,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds 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.