Linamar (TSE:LNR) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Linamar Co. (TSE:LNR)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$82.45 and traded as high as C$89.05. Linamar shares last traded at C$88.79, with a volume of 104,857 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on LNR shares. Scotiabank upped their price target on shares of Linamar from C$83.00 to C$98.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 27th. TD Securities lifted their price objective on shares of Linamar from C$103.00 to C$114.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Raymond James Financial boosted their price objective on shares of Linamar from C$85.00 to C$100.00 in a research report on Thursday, March 5th. Finally, Canadian Imperial Bank of Commerce upped their target price on shares of 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 given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$99.40.

Linamar Trading Up 3.0%

The company has a current ratio of 1.73, a quick ratio of 0.75 and a debt-to-equity ratio of 34.42. The stock has a 50-day simple moving average of C$89.19 and a two-hundred day simple moving average of C$82.45. The firm has a market capitalization of C$5.28 billion, a P/E ratio of 9.13, a price-to-earnings-growth ratio of 1.12 and a beta of 1.72.

Linamar (TSE:LNR) last posted its quarterly earnings results on Wednesday, March 4th. The company reported C$2.28 earnings per share (EPS) for the quarter. The business 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%. On average, equities research analysts anticipate that Linamar Co. will post 11.4332724 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Alexander Drolc sold 427 shares of the company’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of C$88.00, for a total value of C$37,576.00. 33.49% of the stock is currently owned by company 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.