Linamar (TSE:LNR) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Linamar Co. (TSE:LNR)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$55.58 and traded as high as C$63.91. Linamar shares last traded at C$62.75, with a volume of 294,153 shares traded.

Analyst Upgrades and Downgrades

LNR has been the topic of several recent research reports. Scotiabank increased their target price on Linamar from C$61.00 to C$66.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 8th. BMO Capital Markets dropped their price objective on Linamar from C$75.00 to C$65.00 in a report on Thursday, March 6th. TD Securities raised shares of Linamar from a “hold” rating to a “buy” rating and increased their price target for the stock from C$59.00 to C$66.00 in a report on Thursday, May 8th. CIBC downgraded shares of Linamar from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from C$82.00 to C$55.00 in a report on Wednesday, March 5th. Finally, Cibc World Mkts downgraded shares of Linamar from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th.

Linamar Stock Down 1.1%

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 company has a market cap of C$3.84 billion, a PE ratio of 6.55, a P/E/G ratio of 1.12 and a beta of 1.41. The stock has a 50-day moving average of C$57.80 and a 200-day moving average of C$55.58.

Insider Activity at Linamar

In other news, Senior Officer Csaba Havasi sold 2,000 shares of the firm’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of C$50.91, for a total transaction of C$101,816.40. 33.49% of the stock is currently owned by insiders.

Linamar Company Profile

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.