Lindsay (NYSE:LNN) Rating Increased to Neutral at Monness Crespi & Hardt

Monness Crespi & Hardt upgraded shares of Lindsay (NYSE:LNN) from a sell rating to a neutral rating in a research note published on Friday morning, Analyst Ratings Network reports.

Several other analysts also recently weighed in on the company. TheStreet raised Lindsay from a c+ rating to a b- rating in a report on Thursday, July 2nd. Boenning Scattergood raised Lindsay from a neutral rating to an outperform rating and set a $145.00 target price for the company in a report on Thursday, October 22nd. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Lindsay presently has a consensus rating of Buy and a consensus price target of $106.60.

NYSE:LNN opened at $110.42 on Friday. The stock has a 50-day simple moving average of $101.05 and a 200-day simple moving average of $96.68. The stock has a market cap of $1.20 billion, a P/E ratio of 46.99 and a beta of 0.24. Lindsay has a 1 year low of $71.86 and a 1 year high of $120.51. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.11 and a current ratio of 3.16.

Lindsay (NYSE:LNN) last released its quarterly earnings data on Thursday, October 22nd. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.36. Lindsay had a return on equity of 10.81% and a net margin of 5.68%. The business had revenue of $128.40 million during the quarter, compared to analysts’ expectations of $116.97 million. During the same period in the prior year, the firm posted $0.54 EPS. The business’s quarterly revenue was up 26.5% compared to the same quarter last year. On average, equities research analysts predict that Lindsay will post 3.25 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 16th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.16%. The ex-dividend date is Friday, November 13th. Lindsay’s dividend payout ratio is presently 88.28%.

Institutional investors and hedge funds have recently bought and sold shares of the business. Macquarie Group Ltd. purchased a new position in shares of Lindsay during the 2nd quarter worth approximately $27,000. Advisor Group Holdings Inc. purchased a new position in shares of Lindsay during the 1st quarter worth approximately $43,000. Allworth Financial LP purchased a new position in shares of Lindsay during the 2nd quarter worth approximately $58,000. Bank of Montreal Can raised its stake in shares of Lindsay by 497.4% during the 2nd quarter. Bank of Montreal Can now owns 1,165 shares of the industrial products company’s stock worth $105,000 after buying an additional 970 shares in the last quarter. Finally, Captrust Financial Advisors raised its stake in shares of Lindsay by 7.1% during the 2nd quarter. Captrust Financial Advisors now owns 2,159 shares of the industrial products company’s stock worth $196,000 after buying an additional 144 shares in the last quarter. 89.12% of the stock is owned by hedge funds and other institutional investors.

About Lindsay

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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