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

Linamar Co. (TSE:LNR) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$70.92 and traded as high as C$79.34. Linamar shares last traded at C$78.82, with a volume of 62,762 shares traded.

Analysts Set New Price Targets

Several brokerages have commented on LNR. Cibc World Mkts upgraded shares of Linamar from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 25th. CIBC boosted their price target on Linamar from C$87.00 to C$88.00 in a report on Thursday, November 13th. Raymond James Financial upped their price objective on Linamar from C$70.00 to C$80.00 and gave the stock a “market perform” rating in a research report on Thursday, August 14th. BMO Capital Markets lifted their target price on Linamar from C$75.00 to C$80.00 in a research report on Thursday, August 14th. Finally, Scotiabank increased their target price on shares of Linamar from C$80.00 to C$83.00 in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$85.40.

Linamar Stock Performance

The company has a market cap of C$4.71 billion, a price-to-earnings ratio of 19.13, a P/E/G ratio of 1.12 and a beta of 1.65. 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 company has a fifty day moving average of C$75.53 and a two-hundred day moving average of C$70.92.

Linamar (TSE:LNR) last posted its earnings results on Wednesday, November 12th. The company reported C$2.51 EPS for the quarter. Linamar had a return on equity of 10.73% and a net margin of 5.58%.The firm had revenue of C$2.54 billion during the quarter. Equities research analysts anticipate that Linamar Co. will post 11.4332724 EPS for the current year.

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.