Linamar (TSE:LNR) Shares Cross Above 200 Day Moving Average – Here’s Why

Linamar Co. (TSE:LNR)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$81.74 and traded as high as C$88.31. Linamar shares last traded at C$86.90, with a volume of 132,219 shares changing hands.

Analyst Upgrades and Downgrades

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

Linamar Trading Down 0.2%

The business has a fifty day moving average price of C$89.66 and a 200-day moving average price of C$81.74. 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 company has a market cap of C$5.17 billion, a P/E ratio of 8.93, a PEG ratio of 1.12 and a beta of 1.72.

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

Insider Activity

In related news, insider Alexander Drolc sold 427 shares of the company’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of C$88.00, for a total value 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.