Exclusive: Could Lindsay Corporation Go Down After Reaching 52-Week High?

Exclusive: Could Lindsay Corporation Go Down After Reaching 52 Week High?

The stock of Lindsay Corporation (NYSE:LNN) hit a new 52-week high and has $108.43 target or 41.00% above today’s $76.90 share price. The 9 months bullish chart indicates low risk for the $801.27M company. The 1-year high was reported on Oct, 13 by Barchart.com. If the $108.43 price target is reached, the company will be worth $328.52 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 305,834 shares traded hands or 295.38% up from the average. Lindsay Corporation (NYSE:LNN) has declined 6.73% since March 10, 2016 and is downtrending. It has underperformed by 14.25% the S&P500.

Analysts await Lindsay Corporation (NYSE:LNN) to report earnings on October, 20. They expect $0.44 earnings per share, up 4.76% or $0.02 from last year’s $0.42 per share. LNN’s profit will be $4.58 million for 43.69 P/E if the $0.44 EPS becomes a reality. After $0.90 actual earnings per share reported by Lindsay Corporation for the previous quarter, Wall Street now forecasts -51.11% negative EPS growth.

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 $71.25 average target is -7.35% below today’s ($76.9) stock price. Lindsay has been the topic of 6 analyst reports since August 31, 2015 according to StockzIntelligence Inc. The firm has “Sell” rating given on Thursday, June 2 by Stifel Nicolaus. Seaport Global initiated it with “Neutral” rating and $67 target price in Tuesday, May 24 report. On Monday, September 14 the stock rating was maintained by Monness Crespi & Hardt with “Sell”. The firm has “Buy” rating given on Monday, August 31 by Zacks. Piper Jaffray maintained the stock with “Underweight” rating in Thursday, December 24 report.

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.”

Insitutional Activity: The institutional sentiment increased to 0.74 in 2016 Q2. Its up 0.11, from 0.63 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.
Ameriprise Inc owns 53,336 shares or 0% of their US portfolio. Van Eck Associate Corp has 0% invested in the company for 1,399 shares. Moreover, Natl Bank Of New York Mellon has 0.01% invested in Lindsay Corporation (NYSE:LNN) for 451,667 shares. Swiss National Bank owns 20,400 shares or 0% of their US portfolio. Northern Tru Corp accumulated 135,016 shares or 0% of the stock. Cs Mckee Limited Partnership last reported 21,950 shares in the company. First Trust Advsr L P has 35,361 shares for 0.01% of their US portfolio. Vanguard Group has 914,200 shares for 0% of their US portfolio. Bluecrest Cap Mgmt, a Guernsey-based fund reported 8,974 shares. Ls Investment Advisors Limited Liability last reported 403 shares in the company. Barclays Public Lc last reported 0% of its portfolio in the stock. The New Jersey-based Nj State Employees Deferred Compensation Plan has invested 0.04% in Lindsay Corporation (NYSE:LNN). Pittenger Anderson holds 0% or 200 shares in its portfolio. Teacher Retirement Systems Of Texas holds 0% of its portfolio in Lindsay Corporation (NYSE:LNN) for 1,584 shares. Teachers Retirement System Of The State Of Kentucky reported 4,600 shares or 0% of all its holdings.

Insider Transactions: Since April 22, 2016, the stock had 2 buys, and 0 selling transactions for $105,207 net activity. The insider Ketcham Brian L bought $34,693.

More important recent Lindsay Corporation (NYSE:LNN) news were published by: Businesswire.com which released: “Lindsay Corporation Reports Fiscal 2016 Fourth Quarter and Full Year Results” on October 13, 2016, also Businesswire.com published article titled: “Lindsay Corporation Reports Fiscal 2015 Fourth Quarter and Full Year Results”, Businesswire.com published: “Lindsay Corporation Reports Fiscal 2016 Third Quarter Results” on June 30, 2016. More interesting news about Lindsay Corporation (NYSE:LNN) was released by: Seekingalpha.com and their article: “Lindsay Corporation – Estimating Mid-Cycle Earnings For A Cyclical Business” with publication date: May 09, 2016.

LNN Company Profile

Lindsay Corporation, incorporated on January 7, 1974, provides a range of water management and road infrastructure services and products. The Firm operates through two divisions: Irrigation Segment and Infrastructure Segment. The Company’s Irrigation Segment includes the manufacture and marketing of center pivot, lateral move and hose reel irrigation systems, which are used principally in the agricultural industry. The Company’s 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.

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