Linamar (TSE:LNR) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Linamar Co. (TSE:LNR)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$89.32 and traded as high as C$103.12. Linamar shares last traded at C$100.73, with a volume of 94,215 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. TD lifted their target price on shares of Linamar from C$116.00 to C$119.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Scotia lifted their target price on shares of Linamar from C$96.00 to C$99.00 and gave the company a “sector perform” rating in a research note on Thursday, May 7th. Scotiabank decreased their target price on shares of Linamar from C$99.00 to C$96.00 and set a “sector perform” rating for the company in a research note on Friday, April 24th. Canadian Imperial Bank of Commerce lifted their target price on shares of Linamar from C$105.00 to C$110.00 in a research note on Thursday, May 7th. Finally, TD Securities lifted their target price on shares of Linamar from C$103.00 to C$114.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Linamar has a consensus rating of “Moderate Buy” and a consensus price target of C$102.57.

Linamar Stock Performance

The company has a debt-to-equity ratio of 35.07, a quick ratio of 0.75 and a current ratio of 1.50. The firm’s 50 day moving average is C$94.24 and its 200-day moving average is C$89.32. The firm has a market cap of C$5.96 billion, a price-to-earnings ratio of 9.59, a price-to-earnings-growth ratio of 1.12 and a beta of 1.75.

Linamar (TSE:LNR) last issued its quarterly earnings data on Thursday, May 7th. The company reported C$3.28 earnings per share (EPS) for the quarter. The firm had revenue of C$2.94 billion during the quarter. Linamar had a net margin of 5.90% and a return on equity of 10.37%. Sell-side analysts anticipate that Linamar Co. will post 11.4332724 earnings per share for the current fiscal year.

Insider Transactions at Linamar

In related news, insider Csaba Havasi sold 3,000 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of C$97.47, for a total value of C$292,410.00. Following the completion of the sale, the insider directly owned 71,543 shares in the company, valued at approximately C$6,973,296.21. This represents a 4.02% decrease in their ownership of the stock. Corporate insiders own 33.49% of the company’s stock.

About Linamar

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.