Linamar (TSE:LNR) Sets New 52-Week High - Time to Buy?

Key Points

• Linamar shares reached a new 52-week high of C$107.55 and last traded at C$107.40, up from the prior close of C$103.39.
• Analyst sentiment is moderately positive, with three Buy and three Hold ratings and a consensus price target of C$104.14; TD has the highest target at C$119.
• The company reported quarterly EPS of C$3.28 on revenue of C$2.94 billion, while insider Csaba Havasi sold 3,000 shares at an average price of C$97.47.

Linamar Co. (TSE:LNR - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$107.55 and last traded at C$107.40, with a volume of 1932 shares changing hands. The stock had previously closed at C$103.39.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LNR. Scotiabank raised their price target on shares of Linamar from C$99.00 to C$102.00 and gave the stock a "sector perform" rating in a research report on Monday, July 20th. TD upped their price target on shares of Linamar from C$116.00 to C$119.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Canadian Imperial Bank of Commerce increased their price objective on shares of Linamar from C$110.00 to C$115.00 in a research note on Tuesday, July 14th. Scotia boosted their target price on shares of Linamar from C$96.00 to C$99.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 7th. Finally, Raymond James Financial upped their target price on shares of 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 investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of C$104.14.

Linamar Stock Performance

The company has a 50-day moving average of C$102.18 and a 200-day moving average of C$93.88. The firm has a market capitalization of C$6.38 billion, a price-to-earnings ratio of 10.26, a price-to-earnings-growth ratio of 1.12 and a beta of 1.72. The company has a current ratio of 1.50, a quick ratio of 0.75 and a debt-to-equity ratio of 35.07.

Linamar (TSE:LNR - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported C$3.28 EPS for the quarter. The firm had revenue of C$2.94 billion during the quarter. Linamar had a net margin of 5.90% and a return on equity of 10.37%. On average, equities research analysts forecast that Linamar Co. will post 11.4332724 earnings per share for the current fiscal year.

Insider Buying and Selling at Linamar

In related news, insider Csaba Havasi sold 3,000 shares of the business's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of C$97.47, for a total transaction of C$292,410.00. Following the completion of the sale, the insider owned 71,543 shares of the company's stock, valued at C$6,973,296.21. This represents a 4.02% decrease in their position. 33.49% of the stock is currently owned by corporate insiders.

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.

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