The stock of Lindsay Corporation (NYSE:LNN) hit a new 52-week high and has $86.02 target or 6.00% above today’s $81.15 share price. The 5 months bullish chart indicates low risk for the $862.42 million company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $86.02 price target is reached, the company will be worth $51.75 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 116,301 shares traded hands. Lindsay Corporation (NYSE:LNN) has risen 3.33% since April 21, 2016 and is uptrending. It has underperformed by 1.99% the S&P500.
Analysts await Lindsay Corporation (NYSE:LNN) to report earnings on December, 28. They expect $0.63 earnings per share, up 1.61% or $0.01 from last year’s $0.62 per share. LNN’s profit will be $6.70 million for 32.20 P/E if the $0.63 EPS becomes a reality. After $0.73 actual earnings per share reported by Lindsay Corporation for the previous quarter, Wall Street now forecasts -13.70% 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 7 analyst reports since August 31, 2015 according to StockzIntelligence Inc. The stock of Lindsay Corporation (NYSE:LNN) earned “Buy” rating by Zacks on Monday, August 31. The rating was maintained by Piper Jaffray on Thursday, December 24 with “Underweight”. Stifel Nicolaus maintained the shares of LNN in a report on Friday, October 14 with “Sell” rating. The firm has “Sell” rating given on Thursday, June 2 by Stifel Nicolaus. The stock of Lindsay Corporation (NYSE:LNN) has “Sell” rating given on Monday, September 14 by Monness Crespi & Hardt. As per Tuesday, May 24, the company rating was initiated by Seaport Global.
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 0.97 in 2016 Q2. Its up 0.23, from 0.74 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.
Kbc Group Nv has 41,802 shares for 0.04% of their US portfolio. Weik Services Incorporated accumulated 0.12% or 3,000 shares. Ubs Asset Management Americas, a Illinois-based fund reported 6,661 shares. Citigroup has 6,888 shares for 0% of their US portfolio. The Maryland-based Price T Rowe Associates Inc Md has invested 0% in Lindsay Corporation (NYSE:LNN). Qs Investors Limited reported 452 shares or 0% of all its holdings. Cubist Systematic Strategies Ltd Liability Corporation has 0.01% invested in the company for 2,974 shares. Guggenheim Cap Llc owns 38,890 shares or 0.01% of their US portfolio. Moreover, Us Commercial Bank De has 0% invested in Lindsay Corporation (NYSE:LNN) for 120 shares. The California-based California Pub Employees Retirement Sys has invested 0% in Lindsay Corporation (NYSE:LNN). Deutsche Bancorporation Ag accumulated 0% or 42,835 shares. Capstone Asset holds 0.01% of its portfolio in Lindsay Corporation (NYSE:LNN) for 3,868 shares. Fred Alger Mngmt owns 4,765 shares or 0% of their US portfolio. John G Ullman Associate accumulated 2.35% or 168,757 shares. Northern Trust Corp has invested 0% of its portfolio in Lindsay Corporation (NYSE:LNN).
More notable recent Lindsay Corporation (NYSE:LNN) news were published by: Nasdaq.com which released: “Lindsay Corporation (LNN) Ex-Dividend Date Scheduled for November 14, 2016” on November 11, 2016, also Businesswire.com with their article: “Lindsay Corporation Reports Fiscal 2015 Fourth Quarter and Full Year Results” published on October 15, 2015, Businesswire.com published: “Lindsay Corporation Reports Fiscal 2016 Third Quarter Results” on June 30, 2016. More interesting news about Lindsay Corporation (NYSE:LNN) were released by: Seekingalpha.com and their article: “Lindsay Corporation’s (LNN) CEO Richard Parod on Q4 2016 Results – Earnings …” published on October 13, 2016 as well as Seekingalpha.com‘s news article titled: “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, along with its subsidiaries, provides a range of water management and road infrastructure services and products. The Firm operates through two divisions: Irrigation Segment and Infrastructure Segment. The Irrigation Segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, which are used primarily in the agricultural industry. The 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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