Other equities analysts have also recently issued research reports about the stock. TheStreet raised shares of Lindsay from a c+ rating to a b+ rating in a research note on Thursday, June 28th. Zacks Investment Research raised shares of Lindsay from a hold rating to a buy rating and set a $112.00 price target for the company in a research note on Wednesday, May 30th. Finally, ValuEngine raised shares of Lindsay from a hold rating to a buy rating in a research note on Thursday, May 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $94.33.
Shares of NYSE:LNN opened at $91.48 on Tuesday. The company has a market cap of $960.74 million, a P/E ratio of 28.81, a PEG ratio of 1.40 and a beta of 0.34. Lindsay has a 12 month low of $83.57 and a 12 month high of $103.03. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.55 and a quick ratio of 2.71.
Lindsay (NYSE:LNN) last issued its quarterly earnings data on Thursday, June 28th. The industrial products company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.39 by $0.27. The company had revenue of $169.60 million during the quarter, compared to analysts’ expectations of $167.57 million. Lindsay had a net margin of 3.89% and a return on equity of 12.26%. Lindsay’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.02 earnings per share. equities research analysts anticipate that Lindsay will post 3.3 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 31st. Shareholders of record on Friday, August 17th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date was Thursday, August 16th. This is a boost from Lindsay’s previous quarterly dividend of $0.30. Lindsay’s payout ratio is currently 57.14%.
In other Lindsay news, Director Bill Welsh sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $93.52, for a total value of $280,560.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.10% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Cavalier Investments LLC grew its stake in Lindsay by 18.5% in the 2nd quarter. Cavalier Investments LLC now owns 3,927 shares of the industrial products company’s stock worth $380,000 after buying an additional 612 shares in the last quarter. Robecosam AG grew its stake in Lindsay by 5.4% in the 1st quarter. Robecosam AG now owns 12,246 shares of the industrial products company’s stock worth $1,120,000 after buying an additional 626 shares in the last quarter. Rhumbline Advisers grew its stake in Lindsay by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 25,488 shares of the industrial products company’s stock worth $2,472,000 after buying an additional 655 shares in the last quarter. Victory Capital Management Inc. grew its stake in Lindsay by 16.0% in the 2nd quarter. Victory Capital Management Inc. now owns 5,149 shares of the industrial products company’s stock worth $499,000 after buying an additional 709 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Lindsay by 0.5% in the 1st quarter. Northern Trust Corp now owns 139,978 shares of the industrial products company’s stock worth $12,799,000 after buying an additional 756 shares in the last quarter. 93.19% of the stock is owned by institutional investors and hedge funds.
Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. The company's 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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