Wedbush Neutral on Lindsay

Wedbush is out with a research report on Lindsay Corp. LNN and it has a Neutral rating and a $65 price target on shares. In a note to clients, Wedbush writes, "Despite better than expected revenues largely driven by impressive international irrigation sales, operating results were disappointing as a result of unexpected operating inefficiencies in the implementation of its new ERP system and margin mix issues. The largely one-time event in the quarter totaled approximately $0.13 per share, suggesting a $0.02 shortfall in “normalized” operating earnings." Shares of LNN are up $1.17 to $58.10, a gain of 2.06%.