Lindsay (NYSE:LNN) Downgraded by Zacks Research to “Strong Sell”

Zacks Research downgraded shares of Lindsay (NYSE:LNN) from a hold rating to a strong sell rating in a research note issued to investors on Tuesday,Zacks.com reports.

Separately, Stifel Nicolaus reduced their price objective on Lindsay from $128.00 to $113.00 and set a “hold” rating on the stock in a report on Monday. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $113.00.

Lindsay Stock Up 2.5%

Shares of LNN opened at $108.41 on Tuesday. The company has a market capitalization of $1.13 billion, a P/E ratio of 19.86 and a beta of 0.82. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.02 and a quick ratio of 2.43. Lindsay has a one year low of $97.27 and a one year high of $150.96. The business’s 50 day simple moving average is $125.61 and its 200-day simple moving average is $123.55.

Lindsay (NYSE:LNN) last posted its quarterly earnings data on Thursday, April 2nd. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.45). Lindsay had a return on equity of 11.28% and a net margin of 9.25%.The firm had revenue of $157.72 million for the quarter, compared to analyst estimates of $163.52 million. During the same period in the prior year, the company posted $2.44 EPS. The firm’s quarterly revenue was down 15.7% compared to the same quarter last year. As a group, sell-side analysts predict that Lindsay will post 5.82 EPS for the current fiscal year.

Lindsay Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.48 annualized dividend and a yield of 1.4%. Lindsay’s dividend payout ratio is currently 27.11%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd acquired a new position in shares of Lindsay in the 4th quarter valued at $25,000. Advisory Services Network LLC acquired a new position in shares of Lindsay in the 3rd quarter valued at $30,000. Copeland Capital Management LLC bought a new stake in shares of Lindsay in the 4th quarter valued at $62,000. Kestra Advisory Services LLC bought a new stake in shares of Lindsay in the 4th quarter valued at $83,000. Finally, Russell Investments Group Ltd. increased its position in shares of Lindsay by 2,226.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 954 shares of the industrial products company’s stock valued at $134,000 after buying an additional 913 shares in the last quarter. Institutional investors and hedge funds own 89.94% of the company’s stock.

Lindsay Company Profile

Lindsay Corporation (NYSE: LNN) is a U.S.-based manufacturer of agricultural irrigation and infrastructure products. Headquartered in Omaha, Nebraska, the company has built a reputation for designing and producing center pivot and lateral‐move irrigation systems under the Zimmatic brand. These systems feature advanced controls, precision sprinklers and automated monitoring technology that help growers optimize water use, improve crop yields and enhance sustainability in a variety of row-crop, specialty crop and forage operations.

Beyond its core irrigation business, Lindsay operates an infrastructure segment that delivers engineered products and services for water and roadway management.