Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of irrigation system maker Lindsay Corporation
So what: Fiscal third-quarter revenue was $172.1 million and came in ahead of the $166.2 million analysts had expected. Earnings per share rose to $1.47 from $1.20 a year ago and topped the $1.36 analysts had expected.
Now what: Domestic irrigation revenue drove earnings this quarter, rising 38% from a year ago, so the company's biggest market is looking strong. Shares now trade at just 16.7 times trailing earnings -- a reasonable price, considering the 12% rise in revenue this quarter. I think shares can rise further as margins improve and profitability continues to rise.
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