Lindsay (NYSE:LNN) Price Target Raised to $130.00 at Stifel Nicolaus

Lindsay (NYSE:LNN) had its price target upped by investment analysts at Stifel Nicolaus from $126.00 to $130.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 7.93% from the company’s current price.

Separately, StockNews.com raised Lindsay from a “hold” rating to a “buy” rating in a research report on Tuesday.

Lindsay Stock Up 0.6 %

Shares of Lindsay stock traded up $0.66 during trading on Wednesday, hitting $120.45. The company’s stock had a trading volume of 24,752 shares, compared to its average volume of 68,772. Lindsay has a 52 week low of $109.27 and a 52 week high of $135.20. The company has a market capitalization of $1.31 billion, a PE ratio of 20.01 and a beta of 0.66. The company has a fifty day simple moving average of $125.54 and a two-hundred day simple moving average of $121.86. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.69 and a current ratio of 3.92.

Lindsay (NYSE:LNN) last posted its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.18. The company had revenue of $166.30 million for the quarter, compared to the consensus estimate of $169.78 million. Lindsay had a return on equity of 12.86% and a net margin of 10.91%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.36 EPS. Equities research analysts predict that Lindsay will post 5.64 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LNN. Atom Investors LP purchased a new position in shares of Lindsay during the third quarter valued at approximately $731,000. Barclays PLC boosted its stake in shares of Lindsay by 248.8% during the third quarter. Barclays PLC now owns 19,607 shares of the industrial products company’s stock valued at $2,446,000 after purchasing an additional 13,986 shares during the period. Lombard Odier Asset Management Europe Ltd bought a new position in shares of Lindsay in the second quarter worth about $1,327,000. Victory Capital Management Inc. increased its stake in Lindsay by 139.4% in the 2nd quarter. Victory Capital Management Inc. now owns 11,768 shares of the industrial products company’s stock worth $1,446,000 after buying an additional 6,853 shares during the period. Finally, Deprince Race & Zollo Inc. bought a new stake in Lindsay during the 2nd quarter valued at about $6,402,000. Institutional investors own 89.94% of the company’s stock.

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.