Linamar (TSE:LNR) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Linamar Co. (TSE:LNR) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$96.47 and traded as high as C$99.62. Linamar shares last traded at C$98.72, with a volume of 153,575 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LNR. Canadian Imperial Bank of Commerce raised their price objective on shares of Linamar from C$115.00 to C$120.00 in a report on Thursday, August 13th. Scotiabank boosted their target price on Linamar from C$102.00 to C$114.00 and gave the stock a “sector perform” rating in a report on Thursday, August 13th. BMO Capital Markets lowered Linamar from an “outperform” rating to a “market perform” rating and set a C$105.00 price target on the stock. in a research report on Friday. Finally, TD raised their price target on Linamar from C$119.00 to C$123.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Linamar has a consensus rating of “Hold” and an average target price of C$110.71.

Linamar Stock Down 3.6%

The stock has a market cap of C$5.66 billion, a P/E ratio of 8.37, a PEG ratio of 1.12 and a beta of 1.62. The company has a debt-to-equity ratio of 32.89, a quick ratio of 0.75 and a current ratio of 1.88. The firm’s 50-day moving average is C$102.40 and its two-hundred day moving average is C$96.51.

Insider Activity

In related news, Director Mark Stoddart sold 18,932 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of C$105.58, for a total transaction of C$1,998,840.56. Following the completion of the sale, the director directly owned 455,914 shares of the company’s stock, valued at C$48,135,400.12. The trade was a 3.99% decrease in their ownership of the stock. Company 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.