Piper Jaffray Cos. upgraded shares of Lindsay Corp. (NYSE:LNN) from an underweight rating to a neutral rating in a research report report published on Monday. The brokerage currently has $77.00 price objective on the stock, up from their prior price objective of $67.00.
A number of other research analysts also recently commented on LNN. TheStreet downgraded shares of Lindsay Corp. from a buy rating to a hold rating in a research report on Monday, August 15th. Zacks Investment Research downgraded shares of Lindsay Corp. from a hold rating to a sell rating in a research report on Tuesday, August 30th. Finally, Stifel Nicolaus raised their price target on shares of Lindsay Corp. from $64.00 to $69.00 and gave the company a sell rating in a report on Friday, October 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $75.71.
Shares of Lindsay Corp. (NYSE:LNN) opened at 83.56 on Monday. Lindsay Corp. has a one year low of $62.99 and a one year high of $85.09. The firm’s 50-day moving average is $77.69 and its 200-day moving average is $72.55. The stock has a market capitalization of $888.24 million, a PE ratio of 45.17 and a beta of 0.79.
Lindsay Corp. (NYSE:LNN) last posted its earnings results on Thursday, October 13th. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.30. The business had revenue of $132.90 million for the quarter, compared to the consensus estimate of $113.38 million. Lindsay Corp. had a net margin of 3.92% and a return on equity of 11.25%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.42 EPS. On average, analysts expect that Lindsay Corp. will post $2.75 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Wednesday, November 16th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Monday, November 14th. Lindsay Corp.’s dividend payout ratio (DPR) is presently 61.70%.
A number of hedge funds have recently added to or reduced their stakes in the company. Summit Partners Public Asset Management LLC bought a new stake in Lindsay Corp. during the third quarter worth approximately $3,329,000. The Manufacturers Life Insurance Company bought a new stake in Lindsay Corp. during the third quarter worth approximately $527,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Lindsay Corp. by 0.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,976 shares of the company’s stock worth $2,144,000 after buying an additional 245 shares during the period. ProShare Advisors LLC boosted its stake in Lindsay Corp. by 44.6% in the third quarter. ProShare Advisors LLC now owns 39,405 shares of the company’s stock worth $2,915,000 after buying an additional 12,152 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Lindsay Corp. by 1.4% in the third quarter. Principal Financial Group Inc. now owns 76,904 shares of the company’s stock worth $5,689,000 after buying an additional 1,097 shares during the period.
Lindsay Corp. Company Profile