Stock Rating Runner: Is Piper Jaffray Very Positive For Lindsay Corp (NYSE:LNN) After Its Upgrade?

November 28, 2016 - By Richard Conner

Stock Rating Runner:  Is Piper Jaffray Very Positive For Lindsay Corp (NYSE:LNN) After Its Upgrade?

Lindsay Corp (NYSE:LNN) Upgrade

In an analyst note revealed to investors and clients on Monday morning, Piper Jaffray has upped 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 -14.85% below today’s ($83.15) stock price. Lindsay has been the topic of 7 analyst reports since August 31, 2015 according to StockzIntelligence Inc. On Friday, October 14 the stock rating was maintained by Stifel Nicolaus with “Sell”. The stock has “Sell” rating given by Monness Crespi & Hardt on Monday, September 14. The stock of Lindsay Corporation (NYSE:LNN) has “Buy” rating given on Monday, August 31 by Zacks. As per Thursday, June 2, the company rating was downgraded by Stifel Nicolaus. The company was initiated on Tuesday, May 24 by Seaport Global. The company was maintained on Thursday, December 24 by Piper Jaffray.

About 118,665 shares traded hands or 2.50% up from the average. 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 $6.77M for 33.00 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 Q2 2016. Its up 0.23, from 0.74 in 2016Q1. The ratio increased, 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.

Alliancebernstein Limited Partnership last reported 23,691 shares in the company. Public Employees Retirement Association Of Colorado owns 3,484 shares or 0% of their US portfolio. The New York-based Teton Advisors has invested 0.1% in Lindsay Corporation (NYSE:LNN). J Goldman & L P accumulated 4,100 shares or 0.01% of the stock. State Street Corporation, a Massachusetts-based fund reported 222,487 shares. Fifth Third National Bank & Trust, a Ohio-based fund reported 99 shares. Shapiro Capital Mgmt Limited last reported 1.23M shares in the company. Jpmorgan Chase holds 0% or 8,393 shares in its portfolio. Van Eck Associate has 1,399 shares for 0% of their US portfolio. Vulcan Value Lc owns 1.02 million shares or 0.68% of their US portfolio. Blackrock Grp Ltd holds 48,787 shares or 0% of its portfolio. Principal Group Inc has 75,807 shares for 0.01% of their US portfolio. Citigroup accumulated 6,888 shares or 0% of the stock. Great Lakes Lc accumulated 67,173 shares or 0.12% of the stock. The New York-based D E Shaw & has invested 0% in Lindsay Corporation (NYSE:LNN).

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 $893.43 million. The Firm operates through two divisions: Irrigation Segment and Infrastructure Segment. It has a 44.43 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 important 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 article titled: “Lindsay Corporation Reports Fiscal 2015 Fourth Quarter and Full Year Results”, Seekingalpha.com published: “Lindsay Corporation’s (LNN) CEO Richard Parod on Q4 2016 Results – Earnings …” on October 13, 2016. More interesting news about Lindsay Corporation (NYSE:LNN) was released by: Businesswire.com and their article: “Lindsay Corporation Reports Fiscal 2016 Third Quarter Results” with publication date: June 30, 2016.

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