What’s Lindsay Corporation (LNN) Upside After Forming Double Top Pattern?

December 7, 2017 - By Richard Conner

Investors sentiment decreased to 0.86 in 2017 Q2. Its down 0.27, from 1.13 in 2017Q1. It dropped, as 14 investors sold Lindsay Corporation shares while 51 reduced holdings. 20 funds opened positions while 36 raised stakes. 10.29 million shares or 5.72% less from 10.91 million shares in 2017Q1 were reported.
7,761 are owned by Texas Permanent School Fund. Legal & General Plc invested in 20,506 shares. Jpmorgan Chase & holds 0% of its portfolio in Lindsay Corporation (NYSE:LNN) for 20,983 shares. Amer Inc has 0% invested in Lindsay Corporation (NYSE:LNN) for 7,870 shares. 2,621 are held by Mason Street Advsr Limited Liability. Vanguard Grp Inc Inc reported 1.01M shares stake. Franklin holds 200,069 shares. Tortoise Advisors Limited Liability Corporation has invested 0% in Lindsay Corporation (NYSE:LNN). State Of Alaska Department Of Revenue owns 0.01% invested in Lindsay Corporation (NYSE:LNN) for 2,095 shares. Germany-based Deutsche Bankshares Ag has invested 0% in Lindsay Corporation (NYSE:LNN). Gamco Invsts Inc Et Al stated it has 56,000 shares or 0.03% of all its holdings. Prudential Fincl has invested 0% of its portfolio in Lindsay Corporation (NYSE:LNN). 58,812 are owned by First Trust Advsr Limited Partnership. Shapiro Capital Management Lc invested in 0% or 685,954 shares. Timber Creek Mngmt Limited Liability reported 25,180 shares.

The chart of Lindsay Corporation (LNN) shows a double top with $99.09 target or 7.00 % above today’s $92.61 share price. The 5 months chart pattern indicates low risk for the $990.65M company. It was reported on Dec, 7 by Finviz.com. If the $99.09 price target is reached, the company will be worth $69.35 million more. Double tops are rare but powerful chart patterns.

The stock decreased 0.22% or $0.2 during the last trading session, reaching $92.61. About 110,096 shares traded or 31.67% up from the average. Lindsay Corporation (NYSE:LNN) has risen 25.75% since December 7, 2016 and is uptrending. It has outperformed by 9.05% the S&P500.

Analysts await Lindsay Corporation (NYSE:LNN) to report earnings on December, 20. They expect $0.36 earnings per share, up 350.00 % or $0.28 from last year’s $0.08 per share. LNN’s profit will be $3.85 million for 64.31 P/E if the $0.36 EPS becomes a reality. After $0.59 actual earnings per share reported by Lindsay Corporation for the previous quarter, Wall Street now forecasts -38.98 % negative EPS growth.

Lindsay Corporation (NYSE:LNN) Ratings Coverage

Among 7 analysts covering Lindsay (NYSE:LNN), 1 have Buy rating, 1 Sell and 5 Hold. Therefore 14% are positive. Lindsay had 17 analyst reports since August 31, 2015 according to SRatingsIntel. The stock of Lindsay Corporation (NYSE:LNN) has “Sell” rating given on Monday, September 14 by Monness Crespi & Hardt. The stock of Lindsay Corporation (NYSE:LNN) earned “Hold” rating by Stifel Nicolaus on Thursday, August 17. The company was downgraded on Monday, August 31 by Zacks. PiperJaffray upgraded the stock to “Neutral” rating in Monday, November 28 report. Piper Jaffray maintained the stock with “Underweight” rating in Thursday, December 24 report. Seaport Global initiated the shares of LNN in report on Tuesday, May 24 with “Neutral” rating. Stifel Nicolaus maintained Lindsay Corporation (NYSE:LNN) rating on Friday, October 13. Stifel Nicolaus has “Hold” rating and $90 target. Piper Jaffray upgraded the shares of LNN in report on Monday, November 28 to “Neutral” rating. On Thursday, October 12 the stock rating was maintained by Piper Jaffray with “Hold”. Piper Jaffray maintained Lindsay Corporation (NYSE:LNN) on Friday, September 8 with “Hold” rating.

More notable recent Lindsay Corporation (NYSE:LNN) news were published by: Omaha.com which released: “Lindsay Corporation” on October 22, 2017, also Nasdaq.com with their article: “Lindsay Corporation (LNN) Ex-Dividend Date Scheduled for November 15, 2017” published on November 14, 2017, Businesswire.com published: “Lindsay Corporation Reports Fiscal 2017 Fourth Quarter and Full Year Results” on October 12, 2017. More interesting news about Lindsay Corporation (NYSE:LNN) were released by: Prnewswire.com and their article: “Lindsay Corp. President and CEO Speaks to US Senate Committee” published on November 08, 2017 as well as Seekingalpha.com‘s news article titled: “Lindsay: You’re Probably Overlooking This Growth Opportunity” with publication date: October 11, 2017.

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