Lindsay (NYSE:LNN) Stock Price Down 5.1% – What’s Next?

by · The Markets Daily

Lindsay Corporation (NYSE:LNN – Get Free Report)’s share price was down 5.1% on Monday . The company traded as low as $115.96 and last traded at $115.8350. 118,600 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 158,281 shares. The stock had previously closed at $122.12.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LNN. Weiss Ratings lowered shares of Lindsay from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 21st. Stifel Nicolaus decreased their price objective on Lindsay from $128.00 to $113.00 and set a “hold” rating for the company in a report on Monday, April 6th. Finally, Zacks Research raised Lindsay from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $113.00.

Check Out Our Latest Research Report on LNN

Lindsay Stock Down 4.5%

The company has a debt-to-equity ratio of 0.23, a current ratio of 2.93 and a quick ratio of 2.04. The firm’s 50 day moving average is $113.48 and its two-hundred day moving average is $119.42. The firm has a market capitalization of $1.21 billion, a P/E ratio of 22.37 and a beta of 0.69.

Lindsay (NYSE:LNN – Get Free Report) last posted its quarterly earnings results on Thursday, July 2nd. The industrial products company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.39. The firm had revenue of $160.76 million for the quarter, compared to analyst estimates of $157.80 million. Lindsay had a net margin of 8.79% and a return on equity of 10.73%. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.78 earnings per share. Research analysts predict that Lindsay Corporation will post 5.19 EPS for the current year.

Institutional Investors Weigh In On Lindsay

Hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its position in Lindsay by 4.1% during the first quarter. PNC Financial Services Group Inc. now owns 3,046 shares of the industrial products company’s stock worth $363,000 after buying an additional 120 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Lindsay by 2.3% during the 2nd quarter. Sei Investments Co. now owns 6,466 shares of the industrial products company’s stock worth $933,000 after acquiring an additional 145 shares during the period. Chatham Capital Group Inc. increased its holdings in shares of Lindsay by 1.4% during the 4th quarter. Chatham Capital Group Inc. now owns 12,440 shares of the industrial products company’s stock worth $1,466,000 after acquiring an additional 170 shares during the last quarter. Diversified Trust Co increased its holdings in shares of Lindsay by 8.8% during the 1st quarter. Diversified Trust Co now owns 2,165 shares of the industrial products company’s stock worth $258,000 after acquiring an additional 175 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in Lindsay by 11.3% in the 3rd quarter. Van ECK Associates Corp now owns 1,739 shares of the industrial products company’s stock valued at $244,000 after acquiring an additional 177 shares during the period. 89.94% of the stock is currently owned by institutional investors and hedge funds.

Lindsay Company Profile

(Get Free Report)

Lindsay Corporation (NYSE: LNN) is a U.S.-based manufacturer of agricultural irrigation and infrastructure products. Headquartered in Omaha, Nebraska, the company has built a reputation for designing and producing center pivot and lateral‐move irrigation systems under the Zimmatic brand. These systems feature advanced controls, precision sprinklers and automated monitoring technology that help growers optimize water use, improve crop yields and enhance sustainability in a variety of row-crop, specialty crop and forage operations.

Beyond its core irrigation business, Lindsay operates an infrastructure segment that delivers engineered products and services for water and roadway management.

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