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

Linamar Co. (TSE:LNR) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-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 changing hands.

Wall Street Analysts Forecast Growth

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

Linamar Price Performance

The stock has a market capitalization of C$5.05 billion, a price-to-earnings ratio of 8.74, a P/E/G ratio of 1.12 and a beta of 1.72. The company’s 50-day simple moving average is C$89.41 and its 200-day simple moving average is C$82.12. The company has a debt-to-equity ratio of 34.42, a current ratio of 1.73 and a quick ratio of 0.75.

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%. Research analysts forecast that Linamar Co. will post 11.4332724 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Alexander Drolc sold 427 shares of Linamar stock in a transaction on 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 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.