Linamar (TSE:LNR) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Linamar Co. (TSE:LNR)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$82.12 and traded as high as C$85.48. Linamar shares last traded at C$85.00, with a volume of 43,134 shares.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Scotiabank upped their target price 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. Raymond James Financial boosted their price target on shares of Linamar from C$85.00 to C$100.00 in a report on Thursday, March 5th. TD Securities upped 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 report on Thursday, March 5th. Finally, Canadian Imperial Bank of Commerce raised their price objective on Linamar from C$99.00 to C$105.00 in a research note on Friday, March 6th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$99.40.

Linamar Price Performance

The company has a 50-day moving average of C$89.41 and a 200-day moving average of C$82.12. The company has a debt-to-equity ratio of 34.42, a quick ratio of 0.75 and a current ratio of 1.73. The firm has a market capitalization of C$5.05 billion, a price-to-earnings ratio of 8.74, a price-to-earnings-growth 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 EPS for the quarter. Linamar had a net margin of 5.71% and a return on equity of 9.92%. The firm had revenue of C$2.52 billion for the quarter. As a group, research analysts anticipate that Linamar Co. will post 11.4332724 EPS for the current fiscal year.

Insider Activity

In related news, insider Alexander Drolc sold 427 shares of the 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. 33.49% of the stock is owned by corporate 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.