Lindsay (NYSE:LNN) Given New $134.00 Price Target at Stifel Nicolaus

Lindsay (NYSE:LNN) had its price target raised by Stifel Nicolaus from $130.00 to $134.00 in a report released on Friday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the industrial products company’s stock.

Separately, StockNews.com downgraded Lindsay from a “buy” rating to a “hold” rating in a research report on Thursday.

Lindsay Trading Down 7.4 %

Shares of NYSE:LNN opened at $119.75 on Friday. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 19.22 and a beta of 0.72. The business’s 50 day moving average price is $131.04 and its 200-day moving average price is $126.98. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.65. Lindsay has a 1 year low of $109.27 and a 1 year high of $140.27.

Lindsay (NYSE:LNN) last announced its earnings results on Thursday, April 3rd. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.55. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The business had revenue of $187.10 million for the quarter, compared to analyst estimates of $174.50 million. During the same quarter last year, the business earned $1.64 earnings per share. The company’s revenue for the quarter was up 23.5% compared to the same quarter last year. On average, equities research analysts forecast that Lindsay will post 5.82 earnings per share for the current fiscal year.

Lindsay Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.20%. Lindsay’s dividend payout ratio is presently 23.11%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. AlphaQuest LLC purchased a new position in Lindsay during the fourth quarter worth approximately $32,000. GAMMA Investing LLC raised its holdings in shares of Lindsay by 90.3% during the 4th quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 131 shares during the period. Global Retirement Partners LLC boosted its position in shares of Lindsay by 10.3% during the 4th quarter. Global Retirement Partners LLC now owns 925 shares of the industrial products company’s stock valued at $109,000 after acquiring an additional 86 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Lindsay by 73.1% in the fourth quarter. Van ECK Associates Corp now owns 1,475 shares of the industrial products company’s stock valued at $175,000 after purchasing an additional 623 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in Lindsay by 729.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,709 shares of the industrial products company’s stock worth $202,000 after purchasing an additional 1,503 shares during the last quarter. 89.94% of the stock is currently owned by institutional investors and hedge funds.

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.