Linamar (TSE:LNR) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Linamar Co. (TSE:LNR)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$91.00 and traded as high as C$97.58. Linamar shares last traded at C$96.48, with a volume of 37,468 shares.

Analysts Set New Price Targets

Several research firms have recently issued reports on LNR. Scotiabank decreased their price objective on Linamar from C$99.00 to C$96.00 and set a “sector perform” rating on the stock in a report on Friday, April 24th. TD Securities upped their target price on Linamar from C$103.00 to C$114.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Canadian Imperial Bank of Commerce increased their target price on Linamar from C$105.00 to C$110.00 in a research report on Thursday, May 7th. TD raised their price target on Linamar from C$116.00 to C$119.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Scotia lifted their price target 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 data from MarketBeat, Linamar has a consensus rating of “Moderate Buy” and a consensus target price of C$102.57.

Linamar Stock Performance

The company has a quick ratio of 0.75, a current ratio of 1.50 and a debt-to-equity ratio of 35.07. The company has a market cap of C$5.71 billion, a PE ratio of 9.19, a P/E/G ratio of 1.12 and a beta of 1.75. The stock’s 50 day simple moving average is C$97.89 and its two-hundred day simple moving average is C$91.00.

Linamar (TSE:LNR) last announced its quarterly earnings data on Thursday, May 7th. The company reported C$3.28 earnings per share (EPS) for the quarter. Linamar had a net margin of 5.90% and a return on equity of 10.37%. The company had revenue of C$2.94 billion during the quarter. As a group, 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 Csaba Havasi sold 3,000 shares of Linamar stock in a transaction on Thursday, May 14th. The stock was sold at an average price of C$97.47, for a total value of C$292,410.00. Following the transaction, the insider owned 71,543 shares in the company, valued at approximately C$6,973,296.21. This trade represents a 4.02% decrease in their ownership of the stock. Insiders own 33.49% of the company’s stock.

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.