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

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

Lindsay Stock Performance

Lindsay stock traded up $2.08 during midday trading on Tuesday, reaching $119.72. The stock had a trading volume of 137,065 shares, compared to its average volume of 80,666. The firm has a market capitalization of $1.30 billion, a PE ratio of 19.89 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 quick ratio of 2.69, a current ratio of 3.92 and a debt-to-equity ratio of 0.24. The firm’s 50-day moving average price is $125.54 and its 200 day moving average price is $121.86.

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

Institutional Trading of Lindsay

A number of institutional investors have recently added to or reduced their stakes in LNN. Rhumbline Advisers increased its position in shares of Lindsay by 2.8% during the second quarter. Rhumbline Advisers now owns 37,082 shares of the industrial products company’s stock valued at $4,557,000 after buying an additional 1,013 shares during the period. Victory Capital Management Inc. grew its stake in Lindsay by 139.4% during the second quarter. Victory Capital Management Inc. now owns 11,768 shares of the industrial products company’s stock valued at $1,446,000 after acquiring an additional 6,853 shares in the last quarter. Candriam S.C.A. increased its holdings in Lindsay by 9.1% during the 2nd quarter. Candriam S.C.A. now owns 22,772 shares of the industrial products company’s stock worth $2,798,000 after acquiring an additional 1,898 shares during the period. Texas Permanent School Fund Corp lifted its stake in Lindsay by 5.8% in the 2nd quarter. Texas Permanent School Fund Corp now owns 10,215 shares of the industrial products company’s stock worth $1,255,000 after purchasing an additional 561 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Lindsay by 37.0% in the 2nd quarter. American Century Companies Inc. now owns 39,021 shares of the industrial products company’s stock valued at $4,795,000 after purchasing an additional 10,536 shares during the period. Hedge funds and other institutional investors 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.