Linamar (TSE:LNR) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Linamar Co. (TSE:LNR)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$82.78 and traded as high as C$87.78. Linamar shares last traded at C$87.17, with a volume of 114,620 shares changing hands.

Analyst Ratings Changes

A number of research firms have weighed in on LNR. Scotiabank raised their price objective on shares of Linamar from C$83.00 to C$98.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 27th. TD Securities raised their price objective on shares of Linamar from C$103.00 to C$114.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Raymond James Financial raised their price objective on shares of Linamar from C$85.00 to C$100.00 in a research note on Thursday, March 5th. Finally, Canadian Imperial Bank of Commerce raised their price objective on shares of Linamar from C$99.00 to C$105.00 in a research note on Friday, March 6th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$99.40.

Linamar Price Performance

The company has a quick ratio of 0.75, a current ratio of 1.73 and a debt-to-equity ratio of 34.42. The business’s 50-day moving average is C$88.97 and its two-hundred day moving average is C$82.78. The company has a market capitalization of C$5.18 billion, a P/E ratio of 8.96, a price-to-earnings-growth ratio of 1.12 and a beta of 1.58.

Linamar (TSE:LNR) last released its quarterly earnings results on Wednesday, March 4th. The company reported C$2.28 earnings per share for the quarter. Linamar had a net margin of 5.71% and a return on equity of 9.92%. The company had revenue of C$2.52 billion for the quarter. As a group, analysts predict that Linamar Co. will post 11.4332724 earnings per share for the current year.

Insider Buying and Selling at Linamar

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

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.