Lindsay (NYSE:LNN) Stock Rating Upgraded by StockNews.com

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

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

Lindsay Price Performance

NYSE LNN opened at $126.40 on Wednesday. The stock has a 50-day simple moving average of $132.05 and a 200 day simple moving average of $126.26. 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 market capitalization of $1.37 billion, a PE ratio of 20.29 and a beta of 0.70. Lindsay has a twelve month low of $109.27 and a twelve month high of $140.27.

Lindsay (NYSE:LNN) last posted its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.39 by $0.18. The firm 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 company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.36 EPS. Research analysts anticipate that Lindsay will post 5.82 EPS for the current year.

Lindsay Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.36 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.14%. Lindsay’s payout ratio is presently 23.11%.

Hedge Funds Weigh In On Lindsay

A number of hedge funds have recently modified their holdings of the stock. Putney Financial Group LLC acquired a new position in shares of Lindsay in the 4th quarter worth approximately $233,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew 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 worth $4,288,000 after acquiring an additional 2,413 shares during the last quarter. Raiffeisen Bank International AG bought a new stake in Lindsay during the 4th quarter worth approximately $2,885,000. Millennium Management LLC grew 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 worth $1,022,000 after acquiring an additional 3,838 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 worth $729,000 after acquiring an additional 259 shares during the last quarter. 89.94% of the stock is owned by institutional investors and hedge funds.

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.