Stifel Nicolaus Issues Positive Forecast for Lindsay (NYSE:LNN) Stock Price

Lindsay (NYSE:LNN - Get Free Report) had its price target boosted by research analysts at Stifel Nicolaus from $126.00 to $130.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a "hold" rating on the industrial products company's stock. Stifel Nicolaus' price target indicates a potential upside of 5.98% from the stock's previous close.

Separately, StockNews.com upgraded shares of Lindsay from a "hold" rating to a "buy" rating in a research report on Tuesday.

Lindsay Price Performance

Shares of NYSE:LNN traded up $2.87 during trading on Wednesday, reaching $122.66. 112,993 shares of the company's stock traded hands, compared to its average volume of 87,118. The firm has a market cap of $1.33 billion, a PE ratio of 20.38 and a beta of 0.66. Lindsay has a fifty-two week low of $109.27 and a fifty-two week 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 company has a 50-day simple moving average of $125.62 and a 200-day simple moving average of $121.87.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Royce & Associates LP lifted its holdings in Lindsay by 1.6% during 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 in the last quarter. KBC Group NV boosted its holdings in shares of Lindsay by 32.7% in the 3rd quarter. KBC Group NV now owns 343,132 shares of the industrial products company's stock valued at $42,768,000 after buying an additional 84,560 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Lindsay by 6.7% during the second 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 during the last quarter. Wellington Management Group LLP grew its stake in Lindsay by 35.4% during the 3rd quarter. Wellington Management Group LLP now owns 138,170 shares of the industrial products company's stock worth $17,222,000 after buying an additional 36,128 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of 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 acquiring an additional 5,007 shares during the last quarter. 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.