Lindsay Corporation (LNN) Receives Hold Rating from Boenning Scattergood

Lindsay Corporation (NYSE:LNN)‘s stock had its “hold” rating reaffirmed by equities research analysts at Boenning Scattergood in a report issued on Thursday.

Several other equities research analysts have also commented on the company. Stifel Nicolaus boosted their price target on Lindsay Corporation from $76.00 to $90.00 and gave the stock a “hold” rating in a research note on Friday. Piper Jaffray Companies reissued a “hold” rating and set a $80.00 price target on shares of Lindsay Corporation in a research note on Sunday, September 10th. BidaskClub lowered Lindsay Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 26th. Zacks Investment Research raised Lindsay Corporation from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a research note on Monday, July 31st. Finally, Sidoti reissued a “buy” rating and set a $107.00 price target (up previously from $100.00) on shares of Lindsay Corporation in a research note on Friday, July 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $95.00.

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In other Lindsay Corporation news, insider Rick Parod sold 77,387 shares of the stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $91.47, for a total transaction of $7,078,588.89. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 3.10% of the company’s stock.

Several institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its stake in shares of Lindsay Corporation by 0.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,971 shares of the industrial products company’s stock worth $265,000 after purchasing an additional 14 shares during the period. Texas Permanent School Fund lifted its stake in shares of Lindsay Corporation by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 7,761 shares of the industrial products company’s stock worth $693,000 after purchasing an additional 65 shares during the period. Arizona State Retirement System lifted its stake in shares of Lindsay Corporation by 1.8% during the 1st quarter. Arizona State Retirement System now owns 5,534 shares of the industrial products company’s stock worth $488,000 after purchasing an additional 100 shares during the period. CS Mckee LP lifted its stake in shares of Lindsay Corporation by 0.6% during the 2nd quarter. CS Mckee LP now owns 17,850 shares of the industrial products company’s stock worth $1,593,000 after purchasing an additional 100 shares during the period. Finally, Van ECK Associates Corp lifted its stake in shares of Lindsay Corporation by 13.7% during the 1st quarter. Van ECK Associates Corp now owns 1,330 shares of the industrial products company’s stock worth $117,000 after purchasing an additional 160 shares during the period. 97.44% of the stock is currently owned by institutional investors.

Lindsay Corporation Company Profile

Lindsay Corporation, along with its subsidiaries, provides a range of water management and road infrastructure products and services. The Company operates through two segments: 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.

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