Linamar (TSE:LNR) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Linamar Co. (TSE:LNR) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$77.44 and traded as high as C$88.54. Linamar shares last traded at C$87.19, with a volume of 142,945 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LNR. Scotiabank increased their price target on Linamar from C$83.00 to C$98.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 27th. CIBC upped their target price on Linamar from C$88.00 to C$99.00 and gave the stock an “outperform” rating in a research note on Monday, January 5th. Finally, TD Securities raised their target price on Linamar from C$85.00 to C$96.00 in a report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$90.60.

Linamar Price Performance

The stock’s fifty day moving average price is C$83.96 and its 200-day moving average price is C$77.44. The firm has a market cap of C$5.21 billion, a PE ratio of 21.16, a price-to-earnings-growth ratio of 1.12 and a beta of 1.60. The company has a debt-to-equity ratio of 42.84, a current ratio of 1.79 and a quick ratio of 0.75.

Linamar (TSE:LNR) last posted its quarterly earnings results on Wednesday, November 12th. The company reported C$2.51 earnings per share for the quarter. The firm 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 analysts expect that Linamar Co. will post 11.4332724 EPS for the current fiscal year.

Insider Activity at Linamar

In related news, insider Alexander Drolc sold 427 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of C$88.00, for a total transaction of C$37,576.00. Insiders own 33.49% of the company’s stock.

Linamar Company Profile

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.