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

Lindsay (NYSE:LNN) had its price target upped by stock analysts at Stifel Nicolaus from $126.00 to $130.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 5.98% from the company’s previous close.

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

Lindsay Stock Performance

NYSE:LNN opened at $122.66 on Wednesday. The firm has a market capitalization of $1.33 billion, a PE ratio of 20.38 and a beta of 0.66. The stock’s fifty day moving average is $125.69 and its 200 day moving average is $121.88. Lindsay has a fifty-two week low of $109.27 and a fifty-two week high of $135.20. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.69 and a current ratio of 3.92.

Lindsay (NYSE:LNN) last announced its earnings results 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. Lindsay had a net margin of 10.91% and a return on equity of 12.86%. The business had revenue of $166.30 million for the quarter, compared to the consensus estimate of $169.78 million. During the same quarter in the prior year, the firm posted $1.36 earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, sell-side analysts anticipate that Lindsay will post 5.64 earnings per share for the current year.

Institutional Investors Weigh In On Lindsay

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in shares of Lindsay by 90.3% during the fourth quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 131 shares during the period. Barclays PLC grew its stake in Lindsay by 248.8% in the third quarter. Barclays PLC now owns 19,607 shares of the industrial products company’s stock worth $2,446,000 after purchasing an additional 13,986 shares in the last quarter. Pier Capital LLC increased its holdings in Lindsay by 19.1% during 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 period. Wellington Management Group LLP raised its position in Lindsay by 35.4% during the 3rd quarter. Wellington Management Group LLP now owns 138,170 shares of the industrial products company’s stock valued at $17,222,000 after purchasing an additional 36,128 shares in the last quarter. Finally, Quadrature Capital Ltd lifted its holdings in shares of Lindsay by 6.8% in the 3rd quarter. Quadrature Capital Ltd now owns 3,140 shares of the industrial products company’s stock worth $392,000 after buying an additional 200 shares during the period. 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.