Linamar (TSE:LNR) Hits New 52-Week High – Should You Buy?

Linamar Co. (TSE:LNR)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as C$107.55 and last traded at C$107.40, with a volume of 1932 shares trading hands. The stock had previously closed at C$103.39.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Scotiabank upped their price target on Linamar from C$99.00 to C$102.00 and gave the stock a “sector perform” rating in a report on Monday, July 20th. Scotia raised their price objective 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. Raymond James Financial upped their target price on Linamar from C$90.00 to C$100.00 and gave the stock a “market perform” rating in a research note on Thursday, May 7th. Canadian Imperial Bank of Commerce increased their target price on Linamar from C$110.00 to C$115.00 in a research report on Tuesday, July 14th. Finally, TD raised their target price on 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 assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$104.14.

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 price is C$102.30 and its two-hundred day moving average price is C$94.12. The stock has a market cap of C$6.10 billion, a price-to-earnings ratio of 9.81, a PEG ratio of 1.12 and a beta of 1.71.

Linamar (TSE:LNR) last released 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 firm had revenue of C$2.94 billion during the quarter. On average, analysts expect that Linamar Co. will post 11.4332724 EPS for the current fiscal year.

Insider Activity

In other news, insider Csaba Havasi sold 3,000 shares of Linamar stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of C$97.47, for a total transaction of C$292,410.00. Following the sale, the insider owned 71,543 shares of the company’s stock, valued at approximately C$6,973,296.21. The trade was 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.