Linamar (TSE:LNR) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Linamar Co. (TSE:LNRGet Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$55.58 and traded as high as C$63.91. Linamar shares last traded at C$62.75, with a volume of 294,153 shares changing hands.

Wall Street Analyst Weigh In

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

Get Our Latest Analysis on LNR

Linamar Stock Performance

The stock has a market cap of C$3.84 billion, a PE ratio of 6.55, a P/E/G ratio of 1.12 and a beta of 1.41. The company has a fifty day moving average price of C$57.80 and a 200 day moving average price of C$55.58. The company has a quick ratio of 0.75, a current ratio of 1.79 and a debt-to-equity ratio of 42.84.

Insiders Place Their Bets

In related news, Senior Officer Csaba Havasi sold 2,000 shares of Linamar stock in a transaction 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. Insiders own 33.49% of the company’s stock.

About Linamar

(Get Free Report)

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.

Further Reading

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