Lindsay (NYSE:LNN) Upgraded at StockNews.com

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

Lindsay Stock Performance

Shares of LNN opened at $122.66 on Tuesday. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 20.38 and a beta of 0.66. Lindsay has a 12 month low of $109.27 and a 12 month high of $135.20. The company has a current ratio of 3.92, a quick ratio of 2.69 and a debt-to-equity ratio of 0.24. The stock has a 50 day moving average of $125.62 and a 200 day moving average of $121.87.

Lindsay (NYSE:LNN) last posted its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.18. The business had revenue of $166.30 million during the quarter, compared to the consensus estimate of $169.78 million. Lindsay had a net margin of 10.91% and a return on equity of 12.86%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.36 earnings per share. As a group, sell-side analysts forecast that Lindsay will post 5.64 earnings per share for the current year.

Institutional Investors Weigh In On Lindsay

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LNN. Royce & Associates LP boosted its holdings in 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 buying an additional 6,253 shares during the period. KBC Group NV boosted its holdings in shares of Lindsay by 32.7% in 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. Dimensional Fund Advisors LP boosted its holdings in shares of Lindsay by 6.7% in the second quarter. Dimensional Fund Advisors LP now owns 341,554 shares of the industrial products company’s stock worth $41,975,000 after acquiring an additional 21,474 shares during the period. Wellington Management Group LLP boosted its stake in Lindsay by 35.4% in the 3rd 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 period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Lindsay by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 132,952 shares of the industrial products company’s stock valued at $16,571,000 after buying an additional 5,007 shares in the last quarter. 89.94% of the stock is currently owned by institutional investors.

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.