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

StockNews.com upgraded shares of Lindsay (NYSE:LNN - Free Report) from a hold rating to a buy rating in a research note released on Wednesday morning.

Separately, Stifel Nicolaus boosted their price target on 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

Lindsay stock traded down $1.50 during midday trading on Wednesday, reaching $126.40. 198,520 shares of the company traded hands, compared to its average volume of 84,017. Lindsay has a 12 month low of $109.27 and a 12 month high of $140.27. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.65. The business has a 50 day moving average of $132.05 and a two-hundred day moving average of $126.36. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 20.29 and a beta of 0.70.

Lindsay (NYSE:LNN - Get Free Report) last released its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.18. Lindsay had a return on equity of 13.17% and a net margin of 11.18%. The firm had revenue of $166.30 million for the quarter, compared to analysts' expectations of $169.78 million. During the same period in the prior year, the firm earned $1.36 EPS. The company's revenue was up 3.0% compared to the same quarter last year. As a group, research analysts predict that Lindsay will post 5.82 earnings per share for the current year.

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Lindsay Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend was Friday, February 14th. Lindsay's payout ratio is 23.11%.

Hedge Funds Weigh In On Lindsay

A number of institutional investors have recently bought and sold shares of the stock. Putney Financial Group LLC purchased a new stake in Lindsay in the fourth quarter worth about $233,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Lindsay by 7.1% in the 4th 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 worth $4,288,000 after acquiring an additional 2,413 shares in the last quarter. Raiffeisen Bank International AG bought a new stake in Lindsay during the 4th quarter worth approximately $2,885,000. Millennium Management LLC raised its stake in 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 during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Lindsay by 4.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,166 shares of the industrial products company's stock valued at $729,000 after purchasing an additional 259 shares in the last quarter. 89.94% of the stock is 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.