Linamar (TSE:LNR) Stock Passes Above 200 Day Moving Average – What’s Next?

Linamar Co. (TSE:LNR)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$88.34 and traded as high as C$106.30. Linamar shares last traded at C$103.37, with a volume of 161,059 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on LNR shares. Scotiabank decreased their price objective on Linamar from C$99.00 to C$96.00 and set a “sector perform” rating for the company in a report on Friday, April 24th. TD increased their target price on Linamar from C$116.00 to C$119.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Canadian Imperial Bank of Commerce increased their target price on Linamar from C$105.00 to C$110.00 in a report on Thursday, May 7th. Raymond James Financial increased their target price on Linamar from C$90.00 to C$100.00 and gave the company a “market perform” rating in a report on Thursday, May 7th. Finally, Scotia increased their target price on Linamar from C$96.00 to C$99.00 and gave the company a “sector perform” rating in a report on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$102.57.

Linamar Price Performance

The firm has a 50 day moving average of C$92.35 and a 200-day moving average of C$88.34. The company has a market cap of C$6.12 billion, a P/E ratio of 9.84, a P/E/G ratio of 1.12 and a beta of 1.75. The company has a current ratio of 1.50, a quick ratio of 0.75 and a debt-to-equity ratio of 35.07.

Linamar (TSE:LNR) last issued its earnings results on Thursday, May 7th. The company reported C$3.28 earnings per share (EPS) for the quarter. The company had revenue of C$2.94 billion for the quarter. Linamar had a return on equity of 10.37% and a net margin of 5.90%. On average, equities research analysts predict that Linamar Co. will post 11.4332724 EPS for the current year.

Insiders Place Their Bets

In other Linamar news, insider Csaba Havasi sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of C$97.47, for a total transaction of C$292,410.00. Following the completion of the transaction, the insider owned 71,543 shares in the company, valued at C$6,973,296.21. This trade represents a 4.02% decrease in their position. 33.49% of the stock is owned by corporate 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.