Linamar (TSE:LNR) Share Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Linamar crossed above its 200-day moving average, trading as high as C$89.05 and last at C$88.79 on volume of 104,857 shares (200-day MA C$82.45; 50-day MA C$89.19).
• Analysts have raised targets recently (Scotiabank C$98, Raymond James C$100, TD Securities C$114, CIBC C$105); consensus is a Moderate Buy with an average target of C$99.40 and two Buy / two Hold ratings.
• Recent quarter showed C$2.28 EPS on C$2.52B revenue, a PE of 9.13 and debt/equity of 34.42, while insiders own 33.49%—indicating solid profitability and significant insider ownership.

Linamar Co. (TSE:LNR - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$82.45 and traded as high as C$89.05. Linamar shares last traded at C$88.79, with a volume of 104,857 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms recently commented on LNR. Scotiabank lifted their price target on Linamar from C$83.00 to C$98.00 and gave the stock a "sector perform" rating in a research report on Tuesday, January 27th. Raymond James Financial upped their price objective on Linamar from C$85.00 to C$100.00 in a research report on Thursday, March 5th. TD Securities lifted their target price on Linamar from C$103.00 to C$114.00 and gave the stock a "buy" rating in a report on Thursday, March 5th. Finally, Canadian Imperial Bank of Commerce boosted their target price on Linamar from C$99.00 to C$105.00 in a research report on Friday, March 6th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Linamar presently has an average rating of "Moderate Buy" and a consensus target price of C$99.40.

Linamar Price Performance

The company has a current ratio of 1.73, a quick ratio of 0.75 and a debt-to-equity ratio of 34.42. The company has a market capitalization of C$5.28 billion, a PE ratio of 9.13, a price-to-earnings-growth ratio of 1.12 and a beta of 1.72. The stock's 50-day moving average is C$89.19 and its two-hundred day moving average is C$82.45.

Linamar (TSE:LNR - Get Free Report) last announced its earnings results on Wednesday, March 4th. The company reported C$2.28 earnings per share (EPS) for the quarter. The business had revenue of C$2.52 billion during the quarter. Linamar had a return on equity of 9.92% and a net margin of 5.71%. On average, equities analysts predict that Linamar Co. will post 11.4332724 EPS for the current year.

Insider Activity

In related news, insider Alexander Drolc sold 427 shares of the business's stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of C$88.00, for a total transaction of C$37,576.00. Corporate insiders own 33.49% of the company's stock.

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.

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