Lindsay (NYSE:LNN) Rating Lowered to “Hold” at StockNews.com

Lindsay (NYSE:LNN) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

Separately, Stifel Nicolaus upped their price objective on shares of Lindsay from $126.00 to $130.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th.

Lindsay Stock Up 1.8 %

LNN traded up $2.30 on Monday, reaching $132.75. 63,248 shares of the company traded hands, compared to its average volume of 77,005. Lindsay has a 52-week low of $109.27 and a 52-week high of $140.26. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.65. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 21.31 and a beta of 0.67. The stock’s 50 day moving average price is $128.12 and its 200-day moving average price is $124.53.

Lindsay (NYSE:LNN) last announced its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.39 by $0.18. The business had revenue of $166.30 million during the quarter, compared to analysts’ expectations of $169.78 million. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.36 EPS. On average, sell-side analysts expect that Lindsay will post 5.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Lightrock Netherlands B.V. bought a new position in shares of Lindsay in the fourth quarter worth about $11,396,000. T. Rowe Price Investment Management Inc. grew its stake in shares of Lindsay by 37.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 331,027 shares of the industrial products company’s stock worth $39,164,000 after acquiring an additional 89,373 shares during the last quarter. KBC Group NV increased its position in Lindsay by 32.7% during the third quarter. KBC Group NV now owns 343,132 shares of the industrial products company’s stock worth $42,768,000 after acquiring an additional 84,560 shares during the period. SG Americas Securities LLC raised its stake in Lindsay by 746.5% during the 4th quarter. SG Americas Securities LLC now owns 52,138 shares of the industrial products company’s stock valued at $6,168,000 after purchasing an additional 45,979 shares during the last quarter. Finally, Jennison Associates LLC bought a new stake in shares of Lindsay in the fourth quarter valued at about $5,088,000. Institutional investors own 89.94% of the company’s stock.

Lindsay Company Profile

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.