The stock of Lindsay Corporation (NYSE:LNN) is a huge mover today! About 419,087 shares traded hands or 441.80% 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.
The move comes after 6 months positive chart setup for the $812.31 million company. It was reported on Oct, 13 by Barchart.com. We have $97.45 PT which if reached, will make NYSE:LNN worth $203.08 million more.
Analysts await Lindsay Corporation (NYSE:LNN) to report earnings on October, 20. They expect $0.44 EPS, up 4.76% or $0.02 from last year’s $0.42 per share. LNN’s profit will be $4.58 million for 44.30 P/E if the $0.44 EPS becomes a reality. After $0.90 actual EPS 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. 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. The rating was initiated by Seaport Global with “Neutral” on Tuesday, May 24. The firm has “Sell” rating given on Monday, September 14 by Monness Crespi & Hardt. Piper Jaffray maintained it with “Underweight” rating and $63 target price in Thursday, December 24 report. The stock of Lindsay Corporation (NYSE:LNN) earned “Buy” rating by Zacks on Monday, August 31.
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 Q2 2016. 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.
Impax Asset Mgmt, a United Kingdom-based fund reported 263,879 shares. Nelson Van Denburg Campbell Wealth Management Gru Lc accumulated 0% or 90 shares. Gamco Inc Et Al has 0.03% invested in the company for 60,000 shares. Goldman Sachs Grp Inc Inc accumulated 17,280 shares or 0% of the stock. Nationwide Fund Advsr has invested 0% of its portfolio in Lindsay Corporation (NYSE:LNN). Bnp Paribas Arbitrage Sa reported 5,268 shares or 0% of all its holdings. Gabelli Funds accumulated 0.02% or 61,000 shares. The Pennsylvania-based Cordasco Networks has invested 0.08% in Lindsay Corporation (NYSE:LNN). Pub Sector Pension Investment Board holds 7,847 shares or 0.01% of its portfolio. King Luther Cap Mgmt has invested 0.04% of its portfolio in Lindsay Corporation (NYSE:LNN). Moreover, Schroder Inv Gp has 0.01% invested in Lindsay Corporation (NYSE:LNN) for 74,983 shares. Pnc Services Group Inc Inc has 2,801 shares for 0% of their US portfolio. Alliancebernstein L P holds 0% of its portfolio in Lindsay Corporation (NYSE:LNN) for 23,691 shares. Royal Commercial Bank Of Canada reported 1,173 shares or 0% of all its holdings. Comml Bank Of New York Mellon has invested 0.01% of its portfolio in Lindsay Corporation (NYSE:LNN).
Insider Transactions: Since April 22, 2016, the stock had 2 buys, and 0 sales for $105,207 net activity. Another trade for 500 shares valued at $34,693 was made by Ketcham Brian L on Thursday, May 12.
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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