Lindsay (NYSE:LNN) Lowered to Hold Rating by StockNews.com

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

Separately, Stifel Nicolaus raised their price objective on shares of Lindsay from $126.00 to $130.00 and gave the company a “hold” rating in a research note on Wednesday, January 8th.

Lindsay Stock Performance

LNN stock traded up $2.30 during trading on Monday, reaching $132.75. 63,248 shares of the company’s stock were exchanged, compared to its average volume of 77,005. The firm has a market cap of $1.44 billion, a PE ratio of 21.31 and a beta of 0.67. The company has a quick ratio of 2.65, a current ratio of 3.87 and a debt-to-equity ratio of 0.24. Lindsay has a 1-year low of $109.27 and a 1-year high of $140.26. The company’s fifty day moving average price is $128.12 and its 200-day moving average price is $124.53.

Lindsay (NYSE:LNN) last posted its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.18. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The business had revenue of $166.30 million during the quarter, compared to the consensus estimate of $169.78 million. During the same quarter in the prior year, the company posted $1.36 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, research analysts expect that Lindsay will post 5.82 EPS for the current fiscal year.

Hedge Funds Weigh In On Lindsay

Several large investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Lindsay by 7.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,245 shares of the industrial products company’s stock valued at $4,288,000 after purchasing an additional 2,413 shares during the last quarter. Raiffeisen Bank International AG acquired a new stake in shares of Lindsay during the 4th quarter valued at $2,885,000. Millennium Management LLC boosted its stake in shares of Lindsay by 80.0% during the 4th quarter. Millennium Management LLC now owns 8,636 shares of the industrial products company’s stock worth $1,022,000 after acquiring an additional 3,838 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Lindsay by 4.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,166 shares of the industrial products company’s stock worth $729,000 after acquiring an additional 259 shares during the last quarter. Finally, Graham Capital Management L.P. acquired a new position in shares of Lindsay in the 4th quarter worth $331,000. Institutional investors own 89.94% of the company’s stock.

Lindsay Company Profile

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.