Lindsay Corporation (LNN) is Initiated by Seaport Global Securities to Neutral, Price Target at $67

Lindsay Corporation (LNN) was Initiated by Seaport Global Securities to “Neutral” and the brokerage firm has set the Price Target at $67. Seaport Global Securities advised their investors in a research report released on May 24, 2016.

Many Wall Street Analysts have commented on Lindsay Corporation. Shares were Reiterated by Wedbush on Apr 1, 2016 to “Neutral” and Lowered the Price Target to $ 68 from a previous price target of $69 .

On the company’s financial health, Lindsay Corporation reported $0.42 EPS for the quarter, missing the analyst consensus estimate by $ -0.14 based on the information available during the earnings call on Mar 31, 2016. Analyst had a consensus of $0.56. The company had revenue of $120.60 million for the quarter, compared to analysts expectations of $123.84 million. The company’s revenue was down -14.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.75 EPS.

Lindsay Corporation opened for trading at $67.36 and hit $67.52 on the upside on Friday, eventually ending the session at $67.27, with a gain of 0.03% or 0.02 points. The heightened volatility saw the trading volume jump to 1,26,012 shares. Company has a market cap of $725 M.

In a different news, on May 12, 2016, Brian L Ketcham (CFO) purchased 500 shares at $69.39 per share price. According to the SEC, on Jan 12, 2015, Barry Ruffalo (President-Infrastructure) sold 644 shares at $84.48 per share price.

Lindsay Corporation provides a range of water management and road infrastructure products and services. The Company operates through two segments: Irrigation Segment and Infrastructure Segment. Its 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 Irrigation Segment also manufactures and markets repair and replacement parts for its irrigation systems and controls. In addition the Irrigation Segment designs and manufactures water pumping stations and controls for the agriculture golf landscape and municipal markets and filtration solutions for groundwater agriculture industrial and heat transfer markets. Its 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.

Lindsay Corporation

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