Lindsay Corporation (LNN - Free Report) recently completed the sale of its Watertronics and LAKOS businesses in line with the Foundation for Growth initiative. The divestment will simplify its business and help focus on core commercial irrigation and infrastructure sector.
During third-quarter fiscal 2018, Lindsay announced its plan to divest the company’s pump business — Watertronics — a designer and manufacturer of custom pumping solutions for golf, landscape, municipal and agricultural use. The company also decided to sell its filtration business, LAKOS, as well as an irrigation dealership. The combined revenues from these businesses are approximately $70 million annually.
Lindsay is expected to benefit from is focus on Foundation for Growth strategy. Its growth objectives include setting strategic direction, defining priorities and improving overall operating performance. A key financial objective is to achieve operating margin performance between 11% and 12% in fiscal 2020.
Zacks Rank & Stocks to Consider
Lindsay carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the same sector are W.W. Grainger, Inc. (GWW - Free Report) , iRobot Corporation (IRBT - Free Report) and Atkore International Group Inc. (ATKR - Free Report) . All three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Grainger has a long-term earnings growth rate of 12.5%. Its shares have surged 51% year to date.
iRobot Corporation has a long-term earnings growth rate of 19.5%. The company’s shares have gained 49% year to date.
Atkore International has a long-term earnings growth rate of 10%. The stock has rallied 28% year to date.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Lindsay Corporation (LNN - Free Report) recently completed the sale of its Watertronics and LAKOS businesses in line with the Foundation for Growth initiative. The divestment will simplify its business and help focus on core commercial irrigation and infrastructure sector.
During third-quarter fiscal 2018, Lindsay announced its plan to divest the company’s pump business — Watertronics — a designer and manufacturer of custom pumping solutions for golf, landscape, municipal and agricultural use. The company also decided to sell its filtration business, LAKOS, as well as an irrigation dealership. The combined revenues from these businesses are approximately $70 million annually.
Lindsay is expected to benefit from is focus on Foundation for Growth strategy. Its growth objectives include setting strategic direction, defining priorities and improving overall operating performance. A key financial objective is to achieve operating margin performance between 11% and 12% in fiscal 2020.
Zacks Rank & Stocks to Consider
Lindsay carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the same sector are W.W. Grainger, Inc. (GWW - Free Report) , iRobot Corporation (IRBT - Free Report) and Atkore International Group Inc. (ATKR - Free Report) . All three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Grainger has a long-term earnings growth rate of 12.5%. Its shares have surged 51% year to date.
iRobot Corporation has a long-term earnings growth rate of 19.5%. The company’s shares have gained 49% year to date.
Atkore International has a long-term earnings growth rate of 10%. The stock has rallied 28% year to date.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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