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

Lindsay (NYSE:LNN) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday, Zacks reports.

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Lindsay in a research report on Tuesday, August 18th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Lindsay has an average rating of “Reduce” and an average price target of $113.00.

Lindsay Trading Up 4.6%

Shares of LNN opened at $120.08 on Tuesday. Lindsay has a 12-month low of $97.27 and a 12-month high of $148.00. The firm has a market capitalization of $1.22 billion, a P/E ratio of 23.05 and a beta of 0.70. The firm has a 50-day moving average price of $115.78 and a 200 day moving average price of $116.43. The company has a current ratio of 2.93, a quick ratio of 2.04 and a debt-to-equity ratio of 0.23.

Lindsay (NYSE:LNN) last posted its quarterly earnings results on Thursday, July 2nd. The industrial products company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.39. The business had revenue of $160.76 million during the quarter, compared to analysts’ expectations of $157.80 million. Lindsay had a net margin of 8.79% and a return on equity of 10.73%. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.78 EPS. Sell-side analysts forecast that Lindsay will post 5.19 EPS for the current year.

Institutional Investors Weigh In On Lindsay

A number of institutional investors and hedge funds 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 worth approximately $25,000. Advisory Services Network LLC acquired a new stake in Lindsay in the 3rd quarter valued at approximately $30,000. Parallel Advisors LLC raised its position in Lindsay by 1,295.8% in the first quarter. Parallel Advisors LLC now owns 335 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 311 shares during the period. Kestra Advisory Services LLC purchased a new stake in Lindsay in the fourth quarter valued at approximately $83,000. Finally, Nykredit A S acquired a new position in Lindsay during the second quarter worth $123,000. 89.94% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Lindsay

Here are the key news stories impacting Lindsay this week:

• Neutral Sentiment: The news items concern the criminal trial of Lindsay Clancy, an unrelated individual, including a deadlocked jury, continued deliberations, and an arrest related to alleged juror intimidation. These developments have no apparent connection to Lindsay Corporation’s irrigation and infrastructure equipment business. Jury in Lindsay Clancy trial tells judge for a second time that it can’t agree on a verdict
• Neutral Sentiment: With no fresh earnings release, contract announcement, analyst action, or agricultural-equipment industry update included, the rise in LNN is likely being driven by broader market conditions, trading activity, or technical factors rather than the listed headlines. The most recent operating backdrop remains its prior quarterly report: earnings exceeded expectations, while revenue declined year over year.

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.