Linamar (TSE:LNR) Shares Pass Above 200 Day Moving Average – What’s Next?

Shares of Linamar Co. (TSE:LNR) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$79.16 and traded as high as C$94.09. Linamar shares last traded at C$92.25, with a volume of 84,682 shares trading hands.

Analysts Set New Price Targets

LNR has been the topic of several recent analyst reports. Canadian Imperial Bank of Commerce lifted their price objective on shares of Linamar from C$88.00 to C$99.00 and gave the stock an “outperform” rating in a research note on Monday, January 5th. Scotiabank lifted their price target on shares of 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. Finally, TD Securities boosted their price target on shares of Linamar from C$96.00 to C$103.00 in a report on Thursday, February 5th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$92.00.

Linamar Stock Down 1.2%

The firm has a market capitalization of C$5.52 billion, a P/E ratio of 22.39, a PEG ratio of 1.12 and a beta of 1.60. The company has a debt-to-equity ratio of 42.84, a quick ratio of 0.75 and a current ratio of 1.79. The firm’s 50-day moving average is C$86.69 and its 200 day moving average is C$79.16.

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

Insider Buying and Selling at Linamar

In other news, insider Alexander Drolc sold 427 shares of Linamar stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of C$88.00, for a total value of C$37,576.00. 33.49% of the stock is owned by corporate insiders.

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.