Lindsay (NYSE:LNN) Price Target Raised to $130.00 at Stifel Nicolaus

Lindsay (NYSE:LNN) had its target price raised by analysts at Stifel Nicolaus from $126.00 to $130.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ price target points to a potential upside of 7.93% from the company’s current price.

Separately, StockNews.com raised shares of Lindsay from a “hold” rating to a “buy” rating in a report on Tuesday.

Lindsay Stock Performance

Shares of LNN stock traded up $0.66 during trading hours on Wednesday, hitting $120.45. 24,752 shares of the company were exchanged, compared to its average volume of 68,772. The firm has a fifty day simple moving average of $125.54 and a 200 day simple moving average of $121.86. Lindsay has a 52-week low of $109.27 and a 52-week high of $135.20. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 20.01 and a beta of 0.66. The company has a current ratio of 3.92, a quick ratio of 2.69 and a debt-to-equity ratio of 0.24.

Lindsay (NYSE:LNN) last announced its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.18. The business had revenue of $166.30 million for 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 quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.36 EPS. Research analysts predict that Lindsay will post 5.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lindsay

Large investors have recently added to or reduced their stakes in the company. US Bancorp DE raised its stake in shares of Lindsay by 45.9% during the third quarter. US Bancorp DE now owns 267 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 84 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Lindsay by 90.3% in the 4th quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 131 shares during the last quarter. CWM LLC grew its holdings in shares of Lindsay by 16.8% in the third quarter. CWM LLC now owns 638 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 92 shares during the last quarter. Intech Investment Management LLC bought a new stake in Lindsay in the 2nd quarter worth $241,000. Finally, Point72 Asset Management L.P. lifted its holdings in Lindsay by 1,283.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,767 shares of the industrial products company’s stock worth $340,000 after buying an additional 2,567 shares during the period. Hedge funds and other 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.