Linamar (TSE:LNR) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of Linamar Co. (TSE:LNR) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$90.28 and traded as high as C$103.15. Linamar shares last traded at C$100.19, with a volume of 70,349 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Canadian Imperial Bank of Commerce increased their target price on shares of Linamar from C$105.00 to C$110.00 in a research note on Thursday, May 7th. Scotia lifted their price target on shares of Linamar from C$96.00 to C$99.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 7th. TD Securities upped their price target 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. Raymond James Financial increased their price objective on shares of Linamar from C$90.00 to C$100.00 and gave the stock a “market perform” rating in a research report on Thursday, May 7th. Finally, TD raised their price objective on shares of Linamar from C$116.00 to C$119.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$102.57.

Linamar Stock Down 1.5%

The stock has a market cap of C$5.84 billion, a PE ratio of 9.40, a price-to-earnings-growth ratio of 1.12 and a beta of 1.75. The business has a fifty day moving average of C$96.37 and a 200-day moving average of C$90.34. 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 issued its earnings results 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 for the quarter. Equities research analysts anticipate that Linamar Co. will post 11.4332724 earnings per share for the current 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 value of C$292,410.00. Following the transaction, the insider 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 currently owned by 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.