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

Linamar Co. (TSE:LNR) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$66.98 and traded as high as C$76.26. Linamar shares last traded at C$75.95, with a volume of 80,175 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LNR. Raymond James Financial lifted their price target on Linamar from C$70.00 to C$80.00 and gave the company a “market perform” rating in a research report on Thursday, August 14th. TD Securities lifted their price objective on Linamar from C$78.00 to C$85.00 and gave the company a “buy” rating in a research note on Thursday, August 14th. CIBC raised Linamar from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from C$77.00 to C$87.00 in a research note on Tuesday, August 26th. BMO Capital Markets lifted their price objective on Linamar from C$75.00 to C$80.00 in a research note on Thursday, August 14th. Finally, Scotiabank lifted their price objective on Linamar from C$80.00 to C$83.00 in a research note on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Linamar presently has a consensus rating of “Moderate Buy” and a consensus price target of C$83.00.

Linamar Stock Performance

The company has a debt-to-equity ratio of 42.84, a current ratio of 1.79 and a quick ratio of 0.75. The company has a 50 day simple moving average of C$75.02 and a 200-day simple moving average of C$66.98. The stock has a market cap of C$4.54 billion, a P/E ratio of 21.52, a price-to-earnings-growth ratio of 1.12 and a beta of 1.66.

Linamar Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Friday, August 22nd were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.5%. This is a positive change from Linamar’s previous quarterly dividend of $0.25. Linamar’s payout ratio is 29.46%.

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.