Stifel Nicolaus Upgrades Lindsay Corp. to Hold

By Carrie Williams

In a report released today, Nathan Jones from Stifel Nicolaus upgraded Lindsay Corp. (NYSE: LNN) to Hold, with a price target of $85. The company’s shares closed yesterday at $84.28, close to its 52-week high of $85.68.

According to TipRanks.com, Jones is a 4-star analyst with an average return of 5.6% and a 52.5% success rate. Jones covers the Industrial Goods sector, focusing on stocks such as Circor International, Eaton Corporation, and Flowserve Corp.

Currently, the analyst consensus on Lindsay Corp. is Hold and the average price target is $85, representing a 0.9% upside.

In a report issued on November 28, Piper Jaffray also upgraded the stock to Hold with a $77 price target.

Lindsay Corp.’s market cap is currently $895.9M and has a P/E ratio of 44.83. The company has a book value ratio of 3.5613.

Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LNN in relation to earlier this year.

Lindsay Corp. provides proprietary water management and road infrastructure products and services. It operates its business through the Irrigation and Infrastructure segments. The 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 to increase or stabilize crop production while conserving water, energy and labor. It’s also manufactures and markets repair and replacement parts for its irrigation systems and controls, and designs and manufactures water pumping stations and controls for the agriculture, golf, landscape and municipal markets. The Infrastructure segment manufacturing and marketing moveable barriers, specialty barriers, crash cushions and end terminals, road marking and road safety equipment, large diameter steel tubing, railroad signals and structures, and outsourced manufacturing services. The company was founded by Paul Zimmerer in 1955 and is headquartered in Omaha, NE.