Linamar (TSE:LNR) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

Linamar Co. (TSE:LNR) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$55.13 and traded as high as C$63.07. Linamar shares last traded at C$62.58, with a volume of 111,549 shares trading hands.

Analyst Ratings Changes

A number of brokerages recently commented on LNR. BMO Capital Markets lowered their price objective on shares of Linamar from C$75.00 to C$65.00 in a research note on Thursday, March 6th. TD Securities raised shares of Linamar from a “hold” rating to a “buy” rating and raised their price target for the stock from C$59.00 to C$66.00 in a research note on Thursday, May 8th. Cibc World Mkts cut shares of Linamar from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Scotiabank raised their price target on shares of Linamar from C$61.00 to C$66.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 8th. Finally, CIBC cut shares of Linamar from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from C$82.00 to C$55.00 in a research note on Wednesday, March 5th.

Linamar Price Performance

The company’s fifty day moving average is C$51.69 and its 200 day moving average is C$55.13. The company has a quick ratio of 0.75, a current ratio of 1.79 and a debt-to-equity ratio of 42.84. The stock has a market cap of C$3.83 billion, a PE ratio of 6.53, a price-to-earnings-growth ratio of 1.12 and a beta of 1.41.

Insider Activity

In related news, Senior Officer Csaba Havasi sold 2,000 shares of Linamar stock in a transaction on Friday, May 2nd. The shares were sold at an average price of C$50.91, for a total value of C$101,816.40. Insiders own 33.49% of the company’s stock.

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.