Lindsay (NYSE:LNN) Price Target Raised to $134.00 at Stifel Nicolaus

Lindsay (NYSE:LNN - Free Report) had its target price hoisted by Stifel Nicolaus from $130.00 to $134.00 in a research note published on Friday morning, MarketBeat.com reports. They currently have a hold rating on the industrial products company's stock.

Separately, StockNews.com lowered Lindsay from a "buy" rating to a "hold" rating in a report on Thursday, April 3rd.

Lindsay Stock Up 8.3 %

Shares of LNN traded up $9.62 during trading hours on Friday, reaching $125.94. The stock had a trading volume of 156,210 shares, compared to its average volume of 86,735. The firm has a 50-day simple moving average of $129.86 and a 200 day simple moving average of $126.85. Lindsay has a 12 month low of $109.27 and a 12 month high of $140.27. The company has a current ratio of 3.87, a quick ratio of 2.65 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 20.21 and a beta of 0.72.

Lindsay (NYSE:LNN - Get Free Report) last released its quarterly earnings data on Thursday, April 3rd. The industrial products company reported $2.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.89 by $0.55. The firm had revenue of $187.10 million for the quarter, compared to analyst estimates of $174.50 million. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The business's quarterly revenue was up 23.5% compared to the same quarter last year. During the same period last year, the firm earned $1.64 earnings per share. Equities research analysts predict that Lindsay will post 5.82 earnings per share for the current fiscal year.

Lindsay Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Friday, May 16th. Lindsay's dividend payout ratio is 20.48%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Corient Private Wealth LLC increased its stake in Lindsay by 1.8% in the 4th quarter. Corient Private Wealth LLC now owns 4,515 shares of the industrial products company's stock valued at $534,000 after buying an additional 78 shares during the last quarter. Global Retirement Partners LLC increased its position in shares of Lindsay by 10.3% during the fourth quarter. Global Retirement Partners LLC now owns 925 shares of the industrial products company's stock valued at $109,000 after acquiring an additional 86 shares during the last quarter. Gitterman Wealth Management LLC lifted its holdings in Lindsay by 6.1% during the fourth quarter. Gitterman Wealth Management LLC now owns 1,753 shares of the industrial products company's stock worth $207,000 after acquiring an additional 101 shares during the period. GAMMA Investing LLC lifted its holdings in Lindsay by 90.3% during the fourth quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company's stock worth $33,000 after acquiring an additional 131 shares during the period. Finally, CANADA LIFE ASSURANCE Co boosted its position in Lindsay by 1.7% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 10,588 shares of the industrial products company's stock worth $1,253,000 after purchasing an additional 177 shares during the last quarter. 89.94% of the stock is owned by institutional investors.

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.