Boenning & Scattergood Maintains a Hold Rating on Lindsay Corp

Boenning & Scattergood analyst Ryan Connors maintained a Hold rating on Lindsay Corp (NYSE: LNN) today. The company’s shares opened today at $87.10.

According to TipRanks.com, Connors is a 4-star analyst with an average return of 16.0% and a 96.3% success rate. Connors covers the Industrial Goods sector, focusing on stocks such as Advanced Drainage Systems, Watts Water Technologies, and Mueller Water Products.

Currently, the analyst consensus on Lindsay Corp is Hold and the average price target is $78, representing a -10.4% downside.

In a report issued on October 2, Stifel Nicolaus also reiterated a Hold rating on the stock with a $76 price target.

Based on Lindsay Corp’s latest earnings report for the quarter ending May 31, the company posted quarterly revenue of $152 million and quarterly net profit of $10.95 million. In comparison, last year the company earned revenue of $133 million and had a net profit of $7.81 million.

Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is negative on the stock. Most recently, in July 2017, Rick Parod, the President & CEO of LNN sold 77,387 shares for a total of $7,078,428.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Lindsay Corp. provides proprietary water management and road infrastructure products and services. It operates its business through the Irrigation and Infrastructure segments.

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