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

Linamar Co. (TSE:LNR) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$82.12 and traded as high as C$85.48. Linamar shares last traded at C$85.00, with a volume of 43,134 shares traded.

Analyst Ratings Changes

LNR has been the subject of several recent analyst reports. Raymond James Financial raised their price objective on shares of Linamar from C$85.00 to C$100.00 in a research note on Thursday, March 5th. Canadian Imperial Bank of Commerce upped their target price on shares of Linamar from C$99.00 to C$105.00 in a research report on Friday, March 6th. TD Securities increased their target price on shares of Linamar from C$103.00 to C$114.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Finally, Scotiabank lifted their price target on shares of Linamar from C$83.00 to C$98.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 27th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$99.40.

Linamar Stock Down 0.5%

The company has a current ratio of 1.73, a quick ratio of 0.75 and a debt-to-equity ratio of 34.42. The firm has a 50 day moving average price of C$89.36 and a 200-day moving average price of C$82.18. The firm has a market cap of C$5.13 billion, a price-to-earnings ratio of 8.87, a P/E/G ratio of 1.12 and a beta of 1.72.

Linamar (TSE:LNR) last issued its quarterly earnings data on Wednesday, March 4th. The company reported C$2.28 EPS for the quarter. The firm had revenue of C$2.52 billion for the quarter. Linamar had a net margin of 5.71% and a return on equity of 9.92%. On average, equities analysts forecast that Linamar Co. will post 11.4332724 EPS for the current year.

Insider Activity at Linamar

In other news, insider Alexander Drolc sold 427 shares of the firm’s stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of C$88.00, for a total transaction of C$37,576.00. 33.49% of the stock is owned by corporate 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.