Linamar (TSE:LNR) Stock Price Up 10% on Analyst Upgrade

Linamar Co. (TSE:LNR) shares were up 10% during trading on Thursday after TD Securities raised their price target on the stock from C$86.00 to C$97.00. TD Securities currently has a buy rating on the stock. Linamar traded as high as C$73.84 and last traded at C$72.39. Approximately 83,190 shares changed hands during trading, an increase of 1% from the average daily volume of 82,115 shares. The stock had previously closed at C$65.79.

LNR has been the subject of several other reports. Scotiabank increased their price target on shares of Linamar from C$85.00 to C$90.00 in a report on Thursday. CIBC increased their price objective on Linamar from C$90.00 to C$92.00 in a research report on Thursday. Raymond James boosted their target price on shares of Linamar from C$70.00 to C$74.00 in a research report on Thursday. Finally, BMO Capital Markets increased their price target on shares of Linamar from C$80.00 to C$90.00 in a report on Thursday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$88.60.

Insider Activity at Linamar

In other Linamar news, Senior Officer Michael Willard Russell bought 586 shares of the company’s stock in a transaction on Monday, March 18th. The shares were bought at an average cost of C$69.93 per share, with a total value of C$40,978.98. Following the completion of the acquisition, the insider now owns 586 shares of the company’s stock, valued at C$40,978.98. 35.92% of the stock is owned by corporate insiders.

Linamar Stock Up 6.8 %

The stock’s fifty day simple moving average is C$68.02 and its two-hundred day simple moving average is C$64.54. The company has a market capitalization of C$4.33 billion, a price-to-earnings ratio of 8.60, a P/E/G ratio of 1.12 and a beta of 1.45. The company has a debt-to-equity ratio of 33.30, a quick ratio of 0.75 and a current ratio of 1.59.

Linamar (TSE:LNR) last announced its earnings results on Wednesday, March 6th. The company reported C$1.98 EPS for the quarter, beating the consensus estimate of C$1.75 by C$0.23. The business had revenue of C$2.45 billion during the quarter, compared to the consensus estimate of C$2.40 billion. Linamar had a return on equity of 9.93% and a net margin of 5.17%. On average, sell-side analysts anticipate that Linamar Co. will post 10.0864553 EPS for the current year.

Linamar Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.42%. This is a positive change from Linamar’s previous quarterly dividend of $0.22. Linamar’s dividend payout ratio (DPR) is 12.24%.

About Linamar

Linamar Corporation, together with its subsidiaries, produces engineered products in Canada, Europe, the Asia Pacific, and rest of North America. It operates through two segments, Mobility and Industrial. The Mobility segment focuses on light metal casting, forging, machining, and assembly for electrified and powered vehicle markets.