Lindsay Corporation (LNN) Rating Increased to B- at TheStreet

Lindsay Corporation (NYSE:LNN) was upgraded by analysts at TheStreet from a “c+” rating to a “b-” rating in a report released on Thursday.

Several other research firms also recently weighed in on LNN. Zacks Investment Research upgraded shares of Lindsay Corporation from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a research report on Monday, July 31st. Piper Jaffray Companies set a $80.00 price target on shares of Lindsay Corporation and gave the stock a “hold” rating in a research report on Saturday, August 5th. BidaskClub downgraded shares of Lindsay Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. Boenning Scattergood reiterated a “hold” rating on shares of Lindsay Corporation in a research report on Thursday, October 12th. Finally, Stifel Nicolaus increased their price target on shares of Lindsay Corporation from $76.00 to $90.00 and gave the stock a “hold” rating in a research report on Friday, October 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $95.00.

Shares of Lindsay Corporation (NYSE LNN) traded down $1.08 during trading on Thursday, reaching $88.15. 175,422 shares of the company were exchanged, compared to its average volume of 78,780. The company has a market capitalization of $931.53, a P/E ratio of 40.89, a price-to-earnings-growth ratio of 1.99 and a beta of 0.49. Lindsay Corporation has a 12 month low of $72.85 and a 12 month high of $95.04. The company has a current ratio of 3.18, a quick ratio of 2.25 and a debt-to-equity ratio of 0.43.

Lindsay Corporation (NYSE:LNN) last issued its quarterly earnings data on Thursday, October 12th. The industrial products company reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.18. Lindsay Corporation had a net margin of 4.47% and a return on equity of 8.95%. The company had revenue of $131.94 million for the quarter, compared to the consensus estimate of $134.83 million. equities research analysts predict that Lindsay Corporation will post 2.95 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Flinton Capital Management LLC increased its stake in shares of Lindsay Corporation by 72.7% in the second quarter. Flinton Capital Management LLC now owns 1,292 shares of the industrial products company’s stock worth $115,000 after purchasing an additional 544 shares in the last quarter. Acrospire Investment Management LLC increased its stake in shares of Lindsay Corporation by 467.1% in the second quarter. Acrospire Investment Management LLC now owns 1,429 shares of the industrial products company’s stock worth $128,000 after purchasing an additional 1,177 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Lindsay Corporation by 27.2% in the second quarter. Van ECK Associates Corp now owns 1,692 shares of the industrial products company’s stock worth $151,000 after purchasing an additional 362 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Lindsay Corporation by 79.1% in the second quarter. State of Alaska Department of Revenue now owns 2,095 shares of the industrial products company’s stock worth $186,000 after purchasing an additional 925 shares in the last quarter. Finally, Piedmont Investment Advisors LLC purchased a new stake in shares of Lindsay Corporation in the second quarter worth $205,000. 96.96% of the stock is owned by hedge funds and other institutional investors.

About Lindsay Corporation

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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