Analysts Set Lindsay Co. (NYSE:LNN) Price Target at $62.00

Shares of Lindsay Co. (NYSE:LNN) have been given an average rating of “Hold” by the seven ratings firms that are presently covering the stock, Market Beat reports. Three equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $62.00.

Shares of Lindsay (NYSE:LNN) traded down 3.98% on Monday, reaching $69.52. 100,260 shares of the company traded hands. The firm has a market capitalization of $774.11 million and a P/E ratio of 31.40. Lindsay has a 1-year low of $63.19 and a 1-year high of $91.93. The stock has a 50-day moving average price of $70.00 and a 200 day moving average price of $75.04.

Lindsay (NYSE:LNN) last issued its earnings results on Wednesday, December 23rd. The company reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.07. The company earned $121.60 million during the quarter. The company’s revenue was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.62 EPS. Analysts anticipate that Lindsay will post $2.82 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 29th. Shareholders of record on Monday, February 15th will be given a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, February 10th. This represents a $1.12 annualized dividend and a yield of 1.55%. This is an increase from Lindsay’s previous quarterly dividend of $0.12.

LNN has been the topic of several research reports. Zacks Investment Research cut shares of Lindsay from a “hold” rating to a “strong sell” rating in a report on Monday, October 19th. Piper Jaffray reiterated a “sell” rating and issued a $59.00 price target (down from $74.00) on shares of Lindsay in a research report on Friday, October 16th. Monness Crespi & Hardt decreased their price target on shares of Lindsay from $70.00 to $62.00 and set a “sell” rating on the stock in a research report on Monday, September 14th. Finally, Wedbush reiterated a “hold” rating and issued a $69.00 price target on shares of Lindsay in a research report on Tuesday, December 22nd.

An institutional investor recently raised its position in Lindsay stock. Perigon Wealth Management increased its stake in shares of Lindsay Co. (NYSE:LNN) by 1.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,402 shares of the company’s stock after buying an additional 66 shares during the period. Perigon Wealth Management’s holdings in Lindsay were worth $366,000 as of its most recent SEC filing.

12 Month Chart for NYSE:LNN

Lindsay Corporation is a provider of a range of water management and road infrastructure products and services. The Company manufactures and distributes agricultural equipment. The Company operates in two segments: the irrigation segment and the infrastructure segment. The Company’s irrigation segment manufactures and sells center pivot, lateral move, and hose reel irrigation systems; repair and replacement parts for its irrigation systems and controls, and water pumping stations and controls for the agriculture, golf, landscape and municipal markets and filtration solutions for groundwater, agriculture, industrial and heat transfer markets. The Company’s infrastructure segment manufactures and sells moveable barriers, specialty barriers, crash cushions and end terminals, road marking and road safety equipment, large diameter steel tubing, and railroad signals and structures. The infrastructure segment also provides outsourced manufacturing and production services.

 

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