The stock of Lindsay Corporation (NYSE:LNN) hit a new 52-week high and has $88.94 target or 7.00% above today’s $83.12 share price. The 6 months bullish chart indicates low risk for the $893.10M company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $88.94 price target is reached, the company will be worth $62.52M 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 123,158 shares traded hands or 6.39% up from the average. Lindsay Corporation (NYSE:LNN) has risen 6.23% since April 25, 2016 and is uptrending. It has outperformed by 0.21% the S&P500.
Analysts await Lindsay Corporation (NYSE:LNN) to report earnings on December, 28. They expect $0.63 EPS, up 1.61% or $0.01 from last year’s $0.62 per share. LNN’s profit will be $6.77 million for 32.98 P/E if the $0.63 EPS becomes a reality. After $0.73 actual EPS 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 6 analysts covering Lindsay (NYSE:LNN), 1 rate it a “Buy”, 2 “Sell”, while 3 “Hold”. This means 17% are positive. Lindsay has been the topic of 9 analyst reports since August 31, 2015 according to StockzIntelligence Inc. Monness Crespi & Hardt maintained Lindsay Corporation (NYSE:LNN) on Monday, September 14 with “Sell” rating. The firm has “Sell” rating given on Thursday, June 2 by Stifel Nicolaus. Stifel Nicolaus maintained the shares of LNN in a report on Friday, October 14 with “Sell” rating. The stock of Lindsay Corporation (NYSE:LNN) has “Buy” rating given on Monday, August 31 by Zacks. The stock of Lindsay Corporation (NYSE:LNN) has “Neutral” rating given on Tuesday, May 24 by Seaport Global. As per Thursday, December 24, the company rating was maintained by Piper Jaffray. The rating was upgraded by Piper Jaffray to “Neutral” on Monday, November 28. As per Monday, November 28, the company rating was upgraded by PiperJaffray.
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 Q2 2016. Its up 0.23, from 0.74 in 2016Q1. The ratio increased, 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.
Tompkins Financial Corporation has invested 0.01% of its portfolio in Lindsay Corporation (NYSE:LNN). Thrivent For Lutherans last reported 5,040 shares in the company. Bluestein R H Com holds 0.02% or 4,000 shares in its portfolio. Arizona State Retirement Systems has 5,634 shares for 0.01% of their US portfolio. Ameriprise Fincl holds 0% of its portfolio in Lindsay Corporation (NYSE:LNN) for 53,336 shares. Swiss Fincl Bank accumulated 0% or 20,400 shares. Legal And General Public Limited Co accumulated 0% or 2,911 shares. State Teachers Retirement owns 34,891 shares or 0.01% of their US portfolio. Pub Employees Retirement Association Of Colorado owns 3,484 shares or 0% of their US portfolio. Blackrock Fund Advsr, a California-based fund reported 699,606 shares. The Kansas-based Tortoise Capital Advisors Ltd Com has invested 0% in Lindsay Corporation (NYSE:LNN). Aperio Group Ltd Liability owns 5,527 shares or 0% of their US portfolio. Mycio Wealth Partners Lc accumulated 0% or 200 shares. J Goldman And Commerce Lp, a New York-based fund reported 4,100 shares. New York State Common Retirement Fund holds 11,200 shares or 0% of its portfolio.
More important 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 Seekingalpha.com published article titled: “Lindsay Corporation’s (LNN) CEO Richard Parod on Q4 2016 Results – Earnings …”, 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, 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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