Stifel analyst Nathan Jones reiterated a Hold rating and $113.00 price target on Lindsay Corporation (NYSE: LNN).

The analyst commented, "We recently completed a survey of 50 of Lindsay's domestic irrigation dealers. Dealer network sentiment improved compared to our prior survey, with volume now expected to be -1.7% vs. -2.1% previously, over the next 12 months. Dealers reported domestic volume down 4.5% over the past three months (F3Q26). This compares to dealers' forecast three months ago of -4.6% y/y. Our regression model predicts F3Q26 domestic sales down 4.5% based on dealer responses (RSquare = ~0.63, Stifel -5.0%). Dealers expect volume over the next three and 12 months to be down 1.5% y/y and down 1.7% y/y, respectively (dealers historically underestimate volume changes in both directions). Reported pricing decelerated slightly in the quarter at +2.2% y/y vs. +2.7% y/y in our prior survey, and 68% of dealers expect additional price increases in the coming months (56% prior)."

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Shares of Lindsay Corporation closed at $116.10 yesterday.