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

Linamar Co. (TSE:LNR)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$73.92 and traded as high as C$84.65. Linamar shares last traded at C$84.22, with a volume of 56,022 shares trading hands.

Analyst Ratings Changes

A number of brokerages recently weighed in on LNR. CIBC boosted their price target on shares of Linamar from C$87.00 to C$88.00 in a report on Thursday, November 13th. Scotiabank lifted their price objective on shares of Linamar from C$80.00 to C$83.00 in a research report on Friday, October 17th. Finally, TD Securities increased their target price on shares of Linamar from C$85.00 to C$96.00 in a research report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Linamar presently has a consensus rating of “Moderate Buy” and an average target price of C$85.40.

Linamar Stock Performance

The company has a debt-to-equity ratio of 42.84, a current ratio of 1.79 and a quick ratio of 0.75. The firm has a market capitalization of C$5.04 billion, a PE ratio of 20.44, a P/E/G ratio of 1.12 and a beta of 1.59. The company’s fifty day simple moving average is C$79.33 and its 200 day simple moving average is C$73.92.

Linamar (TSE:LNR) last posted its quarterly earnings results on Wednesday, November 12th. The company reported C$2.51 earnings per share (EPS) for the quarter. The company had revenue of C$2.54 billion for the quarter. Linamar had a net margin of 5.58% and a return on equity of 10.73%. As a group, equities research analysts expect that Linamar Co. will post 11.4332724 EPS for the current fiscal year.

About Linamar

Linamar Corp is a diversified global manufacturing company of highly engineered products. The Company’s Industrial segment operates the Skyjack and MacDon brands, It manufactures products for the Aerial Work Platform and Agricultural industries, respectively. The Mobility segment features vertically integrated operations to combine expertise in light metal casting, forging, machining and assembly of components and systems for electric and traditional vehicle applications. In addition, McLaren Engineering and eLIN Product Solutions Group provide design, development, and testing services for the Mobility segment.