Market Rating: Is Lindsay Corp (NYSE:LNN) a Buy? How Analyst Rate it? Why Piper Jaffray Upgraded The Stock

November 28, 2016 - By Hazel Jackson

Market Rating:  Is Lindsay Corp (NYSE:LNN) a Buy? How Analyst Rate it? Why Piper Jaffray Upgraded The Stock

Lindsay Corp (NYSE:LNN) Upgrade

In a research report issued to clients and investors on Monday, 28 November, Piper Jaffray has increased Lindsay Corp (NYSE:LNN) stock to a “Neutral”. LNN’s old rating was “Underweight”.

Lindsay Corporation (NYSE:LNN) Ratings Coverage

Out of 5 analysts covering Lindsay (NYSE:LNN), 1 rate it a “Buy”, 3 “Sell”, while 1 “Hold”. This means 20% are positive. $93 is the highest target while $62 is the lowest. The $70.80 average target is -15.93% below today’s ($84.22) stock price. Lindsay has been the topic of 7 analyst reports since August 31, 2015 according to StockzIntelligence Inc. Seaport Global initiated it with “Neutral” rating and $67 target price in Tuesday, May 24 report. On Thursday, June 2 the stock rating was downgraded by Stifel Nicolaus to “Sell”. The firm earned “Buy” rating on Monday, August 31 by Zacks. The company was maintained on Friday, October 14 by Stifel Nicolaus. The stock of Lindsay Corporation (NYSE:LNN) earned “Sell” rating by Monness Crespi & Hardt on Monday, September 14. As per Thursday, December 24, the company rating was maintained by Piper Jaffray.

About 60,452 shares traded hands. Lindsay Corporation (NYSE:LNN) has risen 6.23% since April 25, 2016 and is uptrending. It has outperformed by 0.21% the S&P500.

Analysts await Lindsay Corporation (NYSE:LNN) to report earnings on December, 28. They expect $0.63 earnings per share, up 1.61% or $0.01 from last year’s $0.62 per share. LNN’s profit will be $6.77 million for 33.42 P/E if the $0.63 EPS becomes a reality. After $0.73 actual earnings per share reported by Lindsay Corporation for the previous quarter, Wall Street now forecasts -13.70% negative EPS growth.

Insitutional Activity: The institutional sentiment increased to 0.97 in 2016 Q2. Its up 0.23, from 0.74 in 2016Q1. The ratio is positive, as 16 funds sold all Lindsay Corporation shares owned while 53 reduced positions. 13 funds bought stakes while 38 increased positions. They now own 11.32 million shares or 5.04% less from 11.92 million shares in 2016Q1.

Blackrock Group has 48,787 shares for 0% of their US portfolio. Morgan Stanley accumulated 17,715 shares or 0% of the stock. Swiss National Bank has 20,400 shares for 0% of their US portfolio. Geode Capital Management Limited Liability last reported 74,758 shares in the company. Fred Alger Management Incorporated has 0% invested in the company for 4,765 shares. Kbc Group Nv holds 41,802 shares or 0.04% of its portfolio. J Goldman And Communication L P last reported 0.01% of its portfolio in the stock. Sector Pension Investment Board owns 7,847 shares or 0.01% of their US portfolio. Rhumbline Advisers holds 0% of its portfolio in Lindsay Corporation (NYSE:LNN) for 16,759 shares. Spot Trading Ltd Llc holds 1,778 shares or 0% of its portfolio. Shapiro Cap Mngmt Lc last reported 1.23 million shares in the company. Great Lakes Advsr Llc holds 0.12% or 67,173 shares in its portfolio. Trexquant Investment L P owns 3,100 shares or 0.03% of their US portfolio. Huntington State Bank, a Ohio-based fund reported 935 shares. Principal Fincl Grp Inc reported 75,807 shares or 0.01% of all its holdings.

Lindsay Corporation, along with its subsidiaries, provides a range of water management and road infrastructure services and products. The company has a market cap of $904.92 million. The Firm operates through two divisions: Irrigation Segment and Infrastructure Segment. It has a 45 P/E ratio. The Irrigation Segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, which are used primarily in the agricultural industry.

According to Zacks Investment Research, “Lindsay Corporation manufactures and markets irrigation equipment including Zimmatic, Greenfield, Stettyn and Perrot center pivot, lateral move and hose reel irrigation systems and GrowSmart controls, all of which are used by farmers to increase or stabilize crop production while conserving water, energy, and labor. The Company also manufactures and markets infrastructure products including movable barriers for lane management to reduce traffic congestion and improve safety through its wholly owned subsidiary, Barrier Systems Inc. In addition, the Company produces crash cushions and specialty barriers to improve motorist and highway worker safety, large diameter steel tubing, and provides outsourced manufacturing and production services for other companies.”

LNN Company Profile

Lindsay Corporation, incorporated on January 7, 1974, along with its subsidiaries, provides a range of water management and road infrastructure services and products. The Firm operates through two divisions: Irrigation Segment and Infrastructure Segment. The Irrigation Segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, which are used primarily in the agricultural industry. The Infrastructure Segment includes the manufacture and marketing of moveable barriers, specialty barriers, crash cushions and end terminals, road marking and road safety equipment, large diameter steel tubing, and railroad signals and structures.

More recent Lindsay Corporation (NYSE:LNN) news were published by: Nasdaq.com which released: “Lindsay Corporation (LNN) Ex-Dividend Date Scheduled for November 14, 2016” on November 11, 2016. Also Businesswire.com published the news titled: “Lindsay Corporation Reports Fiscal 2015 Fourth Quarter and Full Year Results” on October 15, 2015. Seekingalpha.com‘s news article titled: “Lindsay Corporation’s (LNN) CEO Richard Parod on Q4 2016 Results – Earnings …” with publication date: October 13, 2016 was also an interesting one.

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