Lindsay (NYSE:LNN) Stock Rating Upgraded by StockNews.com

Lindsay (NYSE:LNN) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

Lindsay Price Performance

LNN stock opened at $122.66 on Tuesday. The company’s fifty day simple moving average is $125.62 and its 200 day simple moving average is $121.87. Lindsay has a 12-month low of $109.27 and a 12-month high of $135.20. The company has a quick ratio of 2.69, a current ratio of 3.92 and a debt-to-equity ratio of 0.24. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 20.38 and a beta of 0.66.

Lindsay (NYSE:LNN) last released its earnings results on Tuesday, January 7th. The industrial products company reported $1.57 EPS for the quarter, topping 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 12.86% and a net margin of 10.91%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.36 earnings per share. On average, analysts expect that Lindsay will post 5.64 earnings per share for the current year.

Institutional Investors Weigh In On Lindsay

Hedge funds have recently added to or reduced their stakes in the company. Royce & Associates LP lifted its holdings in shares of Lindsay by 1.6% in the 3rd quarter. Royce & Associates LP now owns 404,701 shares of the industrial products company’s stock worth $50,442,000 after purchasing an additional 6,253 shares in the last quarter. KBC Group NV boosted its stake in Lindsay by 32.7% during the 3rd quarter. KBC Group NV now owns 343,132 shares of the industrial products company’s stock valued at $42,768,000 after purchasing an additional 84,560 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Lindsay by 6.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 341,554 shares of the industrial products company’s stock worth $41,975,000 after purchasing an additional 21,474 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Lindsay by 35.4% in the third quarter. Wellington Management Group LLP now owns 138,170 shares of the industrial products company’s stock worth $17,222,000 after purchasing an additional 36,128 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Lindsay by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 132,952 shares of the industrial products company’s stock worth $16,571,000 after buying an additional 5,007 shares in the last quarter. Institutional investors and hedge funds own 89.94% of the company’s stock.

About Lindsay

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.