Linamar (TSE:LNR) Reaches New 12-Month High - What's Next?

Key Points

• Linamar's share price hit a new 52-week high at C$73.64 during trading, up from a previous close of C$73.22.
• Analysts have raised their target prices for Linamar, with TD Securities setting a new target at C$85.00 and a "buy" rating.
• The company declared a quarterly dividend increase from $0.25 to $0.29, representing an annual yield of 1.6%.

Linamar Co. (TSE:LNR - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The company traded as high as C$73.64 and last traded at C$73.64, with a volume of 46468 shares. The stock had previously closed at C$73.22.

Wall Street Analysts Forecast Growth

LNR has been the subject of a number of recent research reports. Scotiabank boosted their price objective on shares of Linamar from C$71.00 to C$80.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 14th. CIBC boosted their price objective on shares of Linamar from C$57.00 to C$68.00 in a research note on Thursday, July 17th. BMO Capital Markets boosted their price objective on shares of Linamar from C$75.00 to C$80.00 in a research note on Thursday, August 14th. Raymond James Financial boosted their price objective on shares of Linamar from C$70.00 to C$80.00 and gave the stock a "market perform" rating in a research note on Thursday, August 14th. Finally, TD Securities boosted their price objective on shares of Linamar from C$78.00 to C$85.00 and gave the stock a "buy" rating in a research note on Thursday, August 14th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of C$78.60.

Linamar Stock Performance

The business has a 50-day moving average price of C$67.38 and a 200-day moving average price of C$58.66. The firm has a market capitalization of C$4.49 billion, a price-to-earnings ratio of 7.66, a P/E/G ratio of 1.12 and a beta of 1.41. The company has a quick ratio of 0.75, a current ratio of 1.79 and a debt-to-equity ratio of 42.84.

Linamar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.29 per share. This is an increase from Linamar's previous quarterly dividend of $0.25. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.6%. Linamar's dividend payout ratio is presently 10.44%.

Insider Activity

In related news, Senior Officer Csaba Havasi sold 4,000 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of C$61.96, for a total value of C$247,848.00. 33.49% of the stock is currently owned by insiders.

Linamar Company Profile

Linamar Corporation, together with its subsidiaries, produces engineered products in Canada, Europe, the Asia Pacific, and rest of North America. It operates through two segments, Mobility and Industrial. The Mobility segment focuses on light metal casting, forging, machining, and assembly for electrified and powered vehicle markets.