Linamar (TSE:LNR) Reaches New 1-Year High – Here’s What Happened

Linamar Co. (TSE:LNR)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$100.11 and last traded at C$100.11, with a volume of 29979 shares. The stock had previously closed at C$98.97.

Wall Street Analyst Weigh In

Several brokerages recently commented on LNR. TD increased their target price on Linamar from C$116.00 to C$119.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. TD Securities upped their price target 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. Scotiabank cut their price target on Linamar from C$99.00 to C$96.00 and set a “sector perform” rating on the stock in a research note on Friday, April 24th. Canadian Imperial Bank of Commerce upped their price target on Linamar from C$105.00 to C$110.00 in a research note on Thursday, May 7th. Finally, Raymond James Financial upped their price target on Linamar from C$90.00 to C$100.00 and gave the company a “market perform” rating in a research note on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$102.57.

Linamar Stock Performance

The company has a market capitalization of C$5.92 billion, a price-to-earnings ratio of 9.53, a PEG ratio of 1.12 and a beta of 1.68. The stock has a 50-day moving average price of C$88.14 and a 200-day moving average price of C$86.08. The company has a debt-to-equity ratio of 35.07, a current ratio of 1.50 and a quick ratio of 0.75.

Linamar (TSE:LNR) last released its quarterly earnings results on Thursday, May 7th. The company reported C$3.28 earnings per share for the quarter. The business had revenue of C$2.94 billion during the quarter. Linamar had a return on equity of 10.37% and a net margin of 5.90%. As a group, analysts forecast that Linamar Co. will post 11.4332724 earnings per share for the current year.

Insiders Place Their Bets

In other Linamar 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 completion of the transaction, the insider directly owned 71,543 shares of the company’s stock, valued at 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.

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.