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The Screen · Industrials · Farm & Heavy Construction Machinery
Lindsay Corporation
LNN · the NYSE · USD · Market cap $1.1B · 1,275 employees
Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally.
Positioning no disclosures inside 60 days, left as found
Options put/call open interest 4.60, read 2026-10-29
Ethical passes the values gate
Price103.37 USD
Fair value124.90
Ethical score70.0/100
Our investment reviews on this name
2026-10-29Read Distribution103.37+0.0% to today Markdown gives way to Distribution after a 10% slide in 3 weeks
2026-10-11Read Markdown114.73-9.9% to today ✓Distribution gives way to Markdown first Markdown read since September
2026-10-02Read Distribution115.00-10.1% to today ✓Markdown gives way to Distribution with volume flow in agreement
2026-09-04Read Markdown114.26-9.5% to today ✓Markup gives way to Markdown while volume still accumulates
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Lindsay Corporation holds its Distribution at $103.37. The statistical read favours the sellers, held for 121 days.
As held on the ledger · 2026-10-28
Phase
Distribution · caution
Quantitative state
The statistical read favours the sellers, held for 121 days
Price at the screen
$103.37
Valuation
21.50 trailing · 17.66 forward price to earnings
Values screen
PASS· score 70.0
Beta
0.68
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
16.24%
Below 33%
Interest-bearing debt is just 16.2% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
43.24%
Below 49%
Money owed to the company is 43.2% of assets, under the 49% limit.
Pass
Revenue purity
1.14%
Below 5%
Only 1.1% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
Lindsay clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 16%, inside the ~33% line, and interest is about 1% of its income, under the ~5% line, so it passes.
Read as at 2026-10-29. It updates when the underlying figures move, and past reads are kept below.
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Today LNN passes the screen. If new figures move it to a fail, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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Fair value range in USD, drawn from the 2026-10-28 screen. The gold marker is the market price at the same screen. A 20.8% margin of safety to the base estimate.
Third-party analyst targets: 2 covering, consensus None. The average target sits +19% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-28 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Water pipes and road barriers miss the growth
Picture a company selling the pipes that water crops and the barriers that line highways. Lindsay serves real needs in irrigation and infrastructure, yet revenue is shrinking 5 percent while margins sit at just 9 percent and return on equity reaches only 11 percent. At 19.2 times forward earnings the valuation leaves almost no room for error against our fair value of 125 dollars.
We see an 8 percent margin of safety at the current price of 115 dollars, but the opportunity rating stays at none. Two analysts call it a buy with a 136 dollar median target, yet the flat revenue trend and modest returns on capital give us little reason to step in even though the ethical screen clears without issue.
Cyclical farm and construction spending can swing sharply, and unknown competitive protection adds another layer of uncertainty. The modest numbers simply do not create a compelling case on either growth or value grounds.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
LNN trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 6.5% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 17%. Our forward projection puts the odds of a 10% gain over the next month near 18%. The street (2 analysts) rates it buy, with a mean price target of $124.
2026-10-22Markdown$110.59+0.0%Entry 15
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 17%. Our forward projection puts the odds of a 10% gain over the next month near 18%. The street (2 analysts) rates it buy, with a mean price target of $124. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-21Markdown$110.59+0.0%Entry 14
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 17%. Our forward projection puts the odds of a 10% gain over the next month near 18%. The street (2 analysts) rates it buy, with a mean price target of $124. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-20Markdown$110.59+0.0%Entry 13
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 17%. Our forward projection puts the odds of a 10% gain over the next month near 18%. The street (2 analysts) rates it buy, with a mean price target of $124. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-19Markdown$110.59+0.0%Entry 12
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 17%. Our forward projection puts the odds of a 10% gain over the next month near 18%. The street (2 analysts) rates it buy, with a mean price target of $124. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-18Markdown$110.59+0.0%Entry 11
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 17%. Our forward projection puts the odds of a 10% gain over the next month near 18%. The street (2 analysts) rates it buy, with a mean price target of $124. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-17Markdown$110.59+0.0%Entry 10
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 17%. Our forward projection puts the odds of a 10% gain over the next month near 18%. The street (2 analysts) rates it buy, with a mean price target of $124. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-16Markdown$110.59-1.3%Entry 9
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 1.3% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 17%. Our forward projection puts the odds of a 10% gain over the next month near 18%. The street (2 analysts) rates it buy, with a mean price target of $124. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-15Markdown$112.02-2.4%Entry 8
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 2.4% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 17%. Our forward projection puts the odds of a 10% gain over the next month near 18%. The street (2 analysts) rates it buy, with a mean price target of $124. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-11Markdown · changed$114.73-0.2%Entry 7
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.2% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 17%. Our forward projection puts the odds of a 10% gain over the next month near 18%. The street (2 analysts) rates it buy, with a mean price target of $124.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
