Lindsay Co. (NYSE:LNN) has been assigned an average rating of “Hold” from the seven ratings firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $92.67.
Several analysts recently weighed in on LNN shares. TheStreet lowered Lindsay from a “b-” rating to a “c” rating in a research note on Tuesday, January 9th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $91.00 price objective on shares of Lindsay in a research note on Thursday, December 14th. Finally, Zacks Investment Research downgraded Lindsay from a “hold” rating to a “sell” rating in a research report on Wednesday, December 13th.
Lindsay (NYSE LNN) traded down $0.37 during trading hours on Wednesday, reaching $92.28. The company had a trading volume of 43,940 shares, compared to its average volume of 90,012. The firm has a market capitalization of $993.34, a price-to-earnings ratio of 38.28, a PEG ratio of 2.00 and a beta of 0.36. The company has a quick ratio of 2.24, a current ratio of 3.29 and a debt-to-equity ratio of 0.43. Lindsay has a fifty-two week low of $79.03 and a fifty-two week high of $96.22.
Lindsay (NYSE:LNN) last released its quarterly earnings data on Thursday, December 21st. The industrial products company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.06). The business had revenue of $124.53 million during the quarter, compared to analyst estimates of $117.11 million. Lindsay had a net margin of 4.79% and a return on equity of 9.65%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period last year, the business earned $0.08 earnings per share. sell-side analysts anticipate that Lindsay will post 3.09 EPS for the current fiscal year.
In other news, EVP David B. Downing sold 21,816 shares of the firm’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $86.11, for a total transaction of $1,878,575.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bill Welsh sold 800 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $90.20, for a total value of $72,160.00. The disclosure for this sale can be found here. Insiders sold 58,281 shares of company stock valued at $5,033,499 over the last quarter. Corporate insiders own 1.20% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Elkfork Partners LLC bought a new position in shares of Lindsay during the fourth quarter worth about $136,000. Crossmark Global Holdings Inc. bought a new stake in Lindsay in the third quarter worth approximately $224,000. Dynamic Technology Lab Private Ltd bought a new stake in Lindsay in the third quarter worth approximately $246,000. Jane Street Group LLC bought a new stake in Lindsay in the fourth quarter worth approximately $248,000. Finally, Victory Capital Management Inc. bought a new stake in Lindsay in the third quarter worth approximately $261,000. Institutional investors own 92.02% of the company’s stock.
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Lindsay Company Profile
Lindsay Corporation, along with its subsidiaries, provides a range of water management and road infrastructure products and services. The Company operates through two segments: Irrigation Segment and Infrastructure Segment. The Irrigation Segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, which are used primarily in the agricultural industry.
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