November 28, 2016 - By Clifton Ray
PiperJaffray has upgraded Lindsay (NYSE:LNN) stock to Neutral in analysts report issued to clients and investors on 28 November. LNN’s old rating was Underweight.
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 -15.20% below today’s ($83.49) stock price. Lindsay has been the topic of 7 analyst reports since August 31, 2015 according to StockzIntelligence Inc. Monness Crespi & Hardt maintained the shares of LNN in a report on Monday, September 14 with “Sell” rating. The rating was initiated by Seaport Global with “Neutral” on Tuesday, May 24. As per Thursday, June 2, the company rating was downgraded by Stifel Nicolaus. Piper Jaffray maintained the shares of LNN in a report on Thursday, December 24 with “Underweight” rating. The stock of Lindsay Corporation (NYSE:LNN) earned “Sell” rating by Stifel Nicolaus on Friday, October 14. The firm has “Buy” rating by Zacks given on Monday, August 31.
About 108,034 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 EPS, up 1.61% or $0.01 from last year’s $0.62 per share. LNN’s profit will be $6.77 million for 33.13 P/E if the $0.63 EPS becomes a reality. After $0.73 actual EPS 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 improved, 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.
Moreover, Vanguard Group has 0% invested in Lindsay Corporation (NYSE:LNN) for 914,200 shares. Northern accumulated 0% or 135,016 shares. Metropolitan Life Co Ny last reported 8,405 shares in the company. Teachers Advisors Inc holds 0% of its portfolio in Lindsay Corporation (NYSE:LNN) for 21,531 shares. Principal Financial Group Incorporated holds 0.01% of its portfolio in Lindsay Corporation (NYSE:LNN) for 75,807 shares. Deutsche National Bank & Trust Ag owns 42,835 shares or 0% of their US portfolio. The Georgia-based Shapiro Capital Limited Liability Com has invested 0% in Lindsay Corporation (NYSE:LNN). Rhumbline Advisers holds 0% of its portfolio in Lindsay Corporation (NYSE:LNN) for 16,759 shares. Renaissance Techs Ltd Llc accumulated 0.04% or 273,300 shares. Bluestein R H And last reported 4,000 shares in the company. Cs Mckee Lp, a Pennsylvania-based fund reported 21,950 shares. Thrivent Fincl For Lutherans holds 0% or 5,040 shares in its portfolio. Moreover, Gabelli Funds has 0.02% invested in Lindsay Corporation (NYSE:LNN) for 61,000 shares. Barclays Public Ltd Com has 0% invested in the company for 1,290 shares. Qs Lc accumulated 452 shares or 0% of the stock.
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 $897.08 million. The Firm operates through two divisions: Irrigation Segment and Infrastructure Segment. It has a 44.61 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.”
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 news for Lindsay Corporation (NYSE:LNN) were recently published by: Nasdaq.com, which released: “Lindsay Corporation (LNN) Ex-Dividend Date Scheduled for November 14, 2016” on November 11, 2016. Seekingalpha.com‘s article titled: “Lindsay Corporation’s (LNN) CEO Richard Parod on Q4 2016 Results – Earnings …” and published on October 13, 2016 is yet another important article.
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By Clifton Ray