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

Linamar Co. (TSE:LNR) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$91.77 and traded as high as C$101.84. Linamar shares last traded at C$99.89, with a volume of 123,114 shares traded.

Analyst Ratings Changes

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

Linamar Price Performance

The firm’s fifty day simple moving average is C$99.62 and its 200 day simple moving average is C$91.77. The firm has a market cap of C$5.91 billion, a P/E ratio of 9.51, a P/E/G ratio of 1.12 and a beta of 1.72. The company has a debt-to-equity ratio of 35.07, a quick ratio of 0.75 and a current ratio of 1.50.

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

Insider Transactions at Linamar

In other news, insider Csaba Havasi sold 3,000 shares of the company’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 sale, the insider directly owned 71,543 shares of the company’s stock, valued at C$6,973,296.21. This represents a 4.02% decrease in their position. 33.49% of the stock is currently owned by insiders.

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.