Lindsay Corporation (LNN) is Reiterated by Stifel to Sell, Raises Price Target to $ 69

Lindsay Corporation (LNN) was Reiterated by Stifel to “Sell” according to the research note released today. The brokerage firm has raised the Price Target to $ 69 from a previous price target of $64 . Stifel advised their investors in a research report released on Oct 14, 2016.

On the company’s financial health, Lindsay Corporation reported $0.73 EPS for the quarter, beating the analyst consensus estimate by $ 0.32 according to the earnings call on Oct 13, 2016. Analyst had a consensus of $0.41. The company had revenue of $132.90 million for the quarter, compared to analysts expectations of $113.38 million. The company’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS.

Lindsay Corporation closed down -1.01 points or -1.41% at $70.7 with 99,793 shares getting traded on Tuesday. Post opening the session at $71.22, the shares hit an intraday low of $69.42 and an intraday high of $71.4 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

Investors should note that on Sep 23, 2016, Lindsay Corporation announced a cash dividend of $0.2900. The company’s management has announced Nov 14, 2016 as the ex-dividend date and fixed the record date on Nov 16, 2016. The payable date has been fixed on Nov 30, 2016.

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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Lindsay Corporation - Is it time to Sell?

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