Linamar (TSE:LNR) Share Price Passes Above Two Hundred Day Moving Average of $56.08

Shares of Linamar Co. (TSE:LNRGet Rating) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$56.08 and traded as high as C$66.20. Linamar shares last traded at C$65.25, with a volume of 161,909 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. TD Securities boosted their price objective on shares of Linamar from C$80.00 to C$86.00 and gave the company a “buy” rating in a report on Thursday, August 11th. CIBC boosted their price objective on shares of Linamar from C$71.00 to C$80.00 and gave the company an “outperform” rating in a report on Thursday, August 11th. BMO Capital Markets boosted their price objective on shares of Linamar from C$58.00 to C$65.00 in a report on Thursday, August 11th. Finally, Scotiabank boosted their price objective on shares of Linamar from C$80.00 to C$85.00 in a report on Thursday, August 11th.

Linamar Stock Performance

The company has a debt-to-equity ratio of 26.40, a current ratio of 1.32 and a quick ratio of 0.79. The company has a market capitalization of C$4.15 billion and a PE ratio of 11.86. The firm’s fifty day simple moving average is C$60.24 and its 200 day simple moving average is C$56.08.

Insider Buying and Selling at Linamar

In other Linamar news, insider Linamar Corporation purchased 35,844 shares of the stock in a transaction on Monday, July 4th. The shares were bought at an average cost of C$55.28 per share, with a total value of C$1,981,420.48. Following the completion of the acquisition, the insider now owns 35,844 shares in the company, valued at C$1,981,420.48. Over the last three months, insiders have acquired 456,776 shares of company stock valued at $27,271,095.

About Linamar

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Linamar Corporation, together with its subsidiaries, design, develop, and produce engineered products in Canada, North America, Europe, and the Asia Pacific. It operates through two segments, Mobility and Industrial. The Mobility segment engages in the design, development, and manufacture of precision metallic components, modules, and systems for vehicle and power generation markets.

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