Linamar (TSE:LNR) Share Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Linamar Co.'s share price has surpassed its 200-day moving average, trading as high as C$69.23, with the last recorded price at C$69.19.
• CIBC and Scotiabank have recently upgraded their price targets for Linamar, with CIBC raising its target from C$57.00 to C$68.00.
• Insider activity includes a Senior Officer selling 4,000 shares at an average price of C$61.96, while corporate insiders hold 33.49% of the stock.

Linamar Co. (TSE:LNR - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$57.71 and traded as high as C$69.23. Linamar shares last traded at C$69.19, with a volume of 69,663 shares.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on LNR shares. CIBC boosted their price target on shares of Linamar from C$57.00 to C$68.00 in a report on Thursday, July 17th. Scotiabank lifted their target price on shares of Linamar from C$61.00 to C$66.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 8th. Finally, TD Securities upgraded Linamar from a "hold" rating to a "buy" rating and boosted their price objective for the company from C$59.00 to C$66.00 in a research note on Thursday, May 8th.

Linamar Trading Up 1.5%

The stock has a 50-day moving average price of C$65.68 and a 200-day moving average price of C$57.71. The stock has a market cap of C$4.23 billion, a P/E ratio of 7.22, a P/E/G ratio of 1.12 and a beta of 1.41. The company has a debt-to-equity ratio of 42.84, a quick ratio of 0.75 and a current ratio of 1.79.

Insider Buying and Selling

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

About Linamar

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.

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