Some Traders Are Very Bullish on Lindsay Corporation (LNN) After Forming Bullish Double Top Pattern

December 7, 2017 - By Migdalia James

Investors sentiment decreased to 0.86 in 2017 Q2. Its down 0.27, from 1.13 in 2017Q1. It turned negative, 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.
550 are owned by Tompkins Corporation. Northern Trust stated it has 0% in Lindsay Corporation (NYSE:LNN). Nuance Limited Liability Company holds 0.35% in Lindsay Corporation (NYSE:LNN) or 51,697 shares. Guggenheim Ltd Liability Corporation has invested 0.01% of its portfolio in Lindsay Corporation (NYSE:LNN). Advisory Net Limited stated it has 15 shares. Brandywine Investment Management Ltd Limited Liability Company reported 0.04% of its portfolio in Lindsay Corporation (NYSE:LNN). Texas Permanent School Fund reported 0.01% in Lindsay Corporation (NYSE:LNN). Moreover, Amer Rech & has 0% invested in Lindsay Corporation (NYSE:LNN). Stephens Mgmt Lc holds 0.26% of its portfolio in Lindsay Corporation (NYSE:LNN) for 119,635 shares. Neuberger Berman Grp Ltd Limited Liability Company owns 764,904 shares. Fenimore Asset Mngmt Inc invested in 96,770 shares. Bank Of America Corporation De, a North Carolina-based fund reported 15,117 shares. Pub Sector Pension Board holds 0% or 5,447 shares in its portfolio. Renaissance Tech Limited Liability Com reported 0.03% of its portfolio in Lindsay Corporation (NYSE:LNN). Goldman Sachs Group Incorporated has invested 0% in Lindsay Corporation (NYSE:LNN).

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 EPS, 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 EPS 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 rating was maintained by Stifel Nicolaus with “Sell” on Friday, October 14. The firm has “Hold” rating by Stifel Nicolaus given on Friday, July 7. The stock of Lindsay Corporation (NYSE:LNN) has “Hold” rating given on Friday, August 4 by Piper Jaffray. The rating was maintained by Stifel Nicolaus with “Hold” on Thursday, August 17. Seaport Global initiated it with “Neutral” rating and $67 target in Tuesday, May 24 report. Piper Jaffray upgraded the shares of LNN in report on Monday, November 28 to “Neutral” rating. As per Monday, September 14, the company rating was maintained by Monness Crespi & Hardt. The stock has “Buy” rating by Zacks on Monday, August 31. As per Thursday, December 24, the company rating was maintained by Piper Jaffray. Piper Jaffray maintained it with “Hold” rating and $80.0 target in Friday, September 8 report.

More notable recent Lindsay Corporation (NYSE:LNN) news were published by: Businesswire.com which released: “Lindsay Corporation Reports Fiscal 2017 Fourth Quarter and Full Year Results” on October 12, 2017, also Omaha.com with their article: “Lindsay Corporation” published on October 22, 2017, Nasdaq.com published: “Lindsay Corporation (LNN) Ex-Dividend Date Scheduled for November 15, 2017” on November 14, 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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