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

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$55.30 and traded as high as C$62.69. Linamar shares last traded at C$62.61, with a volume of 110,637 shares trading hands.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Cibc World Mkts downgraded shares of Linamar from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. BMO Capital Markets reduced their price objective on Linamar from C$75.00 to C$65.00 in a report on Thursday, March 6th. TD Securities upgraded Linamar from a “hold” rating to a “buy” rating and boosted their target price for the company from C$59.00 to C$66.00 in a research note on Thursday, May 8th. CIBC cut Linamar from an “outperform” rating to a “neutral” rating and dropped their price target for the company from C$82.00 to C$55.00 in a research report on Wednesday, March 5th. Finally, Scotiabank lifted their price objective on Linamar from C$61.00 to C$66.00 and gave the stock a “sector perform” rating in a report on Thursday, May 8th.

Linamar Stock Performance

The company has a market capitalization of C$3.83 billion, a P/E ratio of 6.54, a P/E/G ratio of 1.12 and a beta of 1.41. The company has a current ratio of 1.79, a quick ratio of 0.75 and a debt-to-equity ratio of 42.84. The company’s fifty day moving average is C$52.82 and its 200 day moving average is C$55.30.

Insider Activity

In other news, Senior Officer Csaba Havasi sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of C$50.91, for a total value of C$101,816.40. 33.49% of the stock is owned by company insiders.

About Linamar

Linamar Corporation, together with its subsidiaries, produces engineered products in Canada, Europe, the Asia Pacific, and rest of North America. It operates through two segments, Mobility and Industrial. The Mobility segment focuses on light metal casting, forging, machining, and assembly for electrified and powered vehicle markets.